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umka21 [38]
2 years ago
9

Bryan searched for a new bank prior to filling out his direct deposit form at his new employer. He noted that 2-4-7 Bank offered

higher interest rates on savings accounts and money market accounts; and it offered other amenities such as online banking and funds transfer that many traditional banks offer. What is the most logical reason that 2-4-7 Bank can compete for customers by offering higher interest rates?
Business
1 answer:
VikaD [51]2 years ago
4 0

Answer:

2-4-7 has low operating costs

Explanation:

The 2-4-7 bank must be an online bank only. Online-only banks provide banking services, just like traditional banks. However, they offer higher interest rates to their customers as compared to traditional banks.

Online-only banks do not require branches to serve customers; neither do they do not need to hire a large number of employees. Their transactions are done via the internet. An online-only bank, therefore, has low operating costs as it does not pay rent for several branches and has a lean staff. Online banks pass the benefits of low operating costs to customers in the form of higher interest rates.

Online-only banking is a new concept in the banking industry. Online banks are using high interest rates to popularize the concept and attract customers.

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Novak Corp. reported net income of $1.20 million in 2022. Depreciation for the year was $192,000, accounts receivable decreased
Kay [80]

Answer:

$1,476,000

Explanation:

According to the scenario, computation of the given data are as follows:-  

Statement of The Cash Flow 31 December,2022

Particular                               Amount        Total Amount

Net Income                                                  $1,200,000

Depreciation                                $192,000  

Accounts receivable Decrease   $420,000  

Accounts payable Decrease       ($336,000)  

                                                                 $276,000

Net cash provided by operating activities        $1,476,000

6 0
2 years ago
Indicate whether each of the following transactions represents an increase in net exports, a decrease in net exports, an increas
dlinn [17]

Answer:

A. Decrease net capital outflow

B. Increase in net exports

C. Decrease in net exports.

D. Increase net capital outflow.

Explanation:

A. When the Sony pension fund buys U.S treasury then there is a inflow of capital. Hence, this will decrease the net capital outflow.

B. The Sunkist oranges is purchased by the South Korean tourist from the american farmer will increase the exports of the U.S. Hence, there is an increase in the net exports.

C. When a Toyota is purchased by an American then this will increase the imports of United states and hence, there is a reduction in the net exports.

D. The shares of Sony are purchased by an american, so there is a outflow of capital and this will increase the net capital outflow.

7 0
2 years ago
A major lottery advertises that it pays the winner $10 million. However, this prize money is paid at the rate of $ 500,000 each
My name is Ann [436]

Answer:

We have to discount these payments to find the present value

500,000

500,000/1.1

500,000/1.1^2

500,000/1.1^3

We keep on doing this until we reach 500,000/1.1^19

After that we add all the payments and get the value. A less time consuming way of doing it is using a financial calculator

Pv=?

N=19

FV=0

PMT=500,000

=4,182,460.05 we add 500,000 to this because the first payment was not discounted=4,682,460.05= Present Value.

Explanation:

8 0
2 years ago
Woodcarving Co. incurred the following costs during May: Conversion costs $ 476,500 Prime costs 403,750 Manufacturing overhead 3
faust18 [17]

Answer:

The correct answer is C

Explanation:

With the following information, we need to calculate the direct materials and direct labor:

Woodcarving Co. incurred the following costs during May:

Conversion costs $ 476,500

Prime costs 403,750

Manufacturing overhead 320,500

We know that:

Conversion cost= direct labor + Manufacturing overhead

476500= direct labor + 320500

direct labor= $156000

Prime costs= direct materials + direct labor

403750= direct materials + 156000

direct labor= $247750

7 0
2 years ago
he manufacturer of a light fixture believes that the dollars spent on advertising, the price of the fixture and the number of re
NemiM [27]

Answer: 10.9%

Explanation:

7 0
2 years ago
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