if the interest rate on a savings account is 0.018%, approximately how much money do you need to keep in this account for 1 year to earn enough interest to cover a single $9.99 Below-Minimum-Balance Fee?

Answers

Answer 1
A = $9.99, the amount needed after 1 year 
r = 0.018% = 0.00018, interest rate
n = 12, compoundings per year
t = 1, one year duration

Let P =  required balance at the beginning of the year.
Then
[tex]P(1+ \frac{r}{n} )^{nt} = A[/tex]
P(1 + 0.00018/12)¹² = 9.99
1.00018P = 9.99
P = $9.988 ≈ $9.99

Answer: $9.99


Related Questions

Lenders are prohibited from

Answers

Taking money from others

Answer:

Considering borrowers' race, sex, and national origin

Explanation:

Correct on Edge2021

In general, employers must provide fall protection to construction workers working on surfaces with unprotected sides and edges that are how many feet above the lower level?

Answers

Historically, falls are the leading cause of fatalities in construction, accounting for about one-third of all fatalities in the industry. OSHA recognizes that incidents involving falls are generally complex events, frequently involving a variety of factors. The standard for fall protection relates to the human and equipment-related issues to protect workers. The 6-foot rule means that for workers working at heights of 6 feet or greater above a lower level. This applies at heights of less than 6 feet when working near dangerous equipment, for example, working on machinery with open drive belts, pulleys or gears or open vats of degreasing agents or acid.

When writers take several outside sources and weave the information into their​ arguments, they are

Answers

The writers who take several outside sources and weaves their information into leading in arguments is a way of synthesizing. Synthesizing is a way of having to make or produce something or combine something such as having to combine sources and information from arguments that will contribute to their writing.

A writer is said to be synthesizing when he/she take several outside sources and weave the information into their​ arguments,

What is synthesizing?

Synthesizing refers to combination of multiple sources and ideas to create a content, support etc.

In conclusion, the writer is synthesizing when the take several outside sources.

Read more about synthesizing

brainly.com/question/1146283

How is creative thinking similar to a child’s thinking?

Answers

Children have not been taught how to think inside of the box which makes them have outstanding creative thinking
Hey there!

A child likely hasn't lived long enough to experience and take into account the limitations on life while adults have. This makes it to where adults allow these limitations to seep into their thoughts and ideas, giving them a limited scope of what they consider. For example, one of these limitations is self-control, which prevents crazy or impossible ideas from being thought up or expressed. 

Without limitations, children can create some wild ideas and use their imagination to its fullest extent. Creative thinking requires one to assess all possible solutions and outcomes (no matter how outlandish they may be) for a situation instead of only expressing ones that are reasonable or viable. This can lead to someone else taking that idea and reworking it into a viable idea or solution. 

TL;DR, children think creatively without limits. Creative thinking requires the same thing of thinkers, no matter how old someone is. 

Hope this helped you out! :-)

The prices of the Ralph Lauren clothing line are considerably higher than those of comparable-quality lines. Yet this brand sells more than a J.C. Penny brand of clothing. Does this violate the law of demand?

Answers

No, it does not because the law of demand says that as the price of an item goes up the want for the item goes down but your example is the honest.

No, this situation does not necessarily violate the law of demand. The law of demand states that, all else being equal, as the price of a good or service increases, the quantity demanded for that good or service decreases, and vice versa. However, there are factors other than price that can influence consumer demand.

In the case of the Ralph Lauren clothing line selling more than a J.C. Penney brand of clothing, there could be several reasons for this:

Brand perception and reputation: Ralph Lauren has established a strong brand image and reputation over the years, associated with quality, luxury, and prestige. Consumers may be willing to pay higher prices for Ralph Lauren products due to their perceived value and status associated with the brand.

Different target markets: Ralph Lauren and J.C. Penney may have different target markets and customer segments. The customers who prefer Ralph Lauren may be more willing and able to pay higher prices for the brand's products, while J.C. Penney may cater to a more price-sensitive market segment.

Product differentiation: The Ralph Lauren clothing line may offer unique designs, styles, or features that differentiate it from other brands, including J.C. Penney. The perceived value and exclusivity of these unique aspects can justify the higher prices and attract consumers who value those specific attributes.

To know more about law of demand

https://brainly.com/question/33404357

#SPJ2

What objective can a smart budget fulfill an Individual as well as an organization

Answers

helps to map expenses and control spending

The objective that can a smart budget fulfill an individual as well as an organization is an planning of actual performance.

What is the budget?

A price range is an estimation of sales and costs over a targeted time period and is commonly compiled and re-evaluated on a periodic basis.

A budget may be made for a person, a group of people, a business, a government, or pretty much anything else that makes and spends cash.

To control your month-to-month costs, prepare for life's unpredictable events, and be capable of managing to pay for big-priced price tag gadgets without going into debt, budgeting is important.

Keeping track of how much you earn and spend does not have to be a chore, does not require you to be a math genius, and does not imply that you cannot buy what you want.

It simply means that you will understand where your cash goes and that you will have extra control over your finances. A budget is a microeconomic concept that denotes the trade-off made when one good is exchanged for another.

The end result of this trade-off—a surplus price range method earnings are anticipated, a balanced price range method sales are predicted to have identical costs, and a deficit price range method costs will exceed sales.

Learn more about Budget, refer to:

brainly.com/question/14188925

#SPJ2

The union voted to lend ____ support to proposed contract changes

Answers

its is the answer
hope it helps

Does anyone have some sort of idea for inventing something, that would be useful to everyone in the world? It could be as simple as something like whoever created the travel mug, because they realized it's hard to bring a cup with no cap in the car. Let me know :)

Answers

Peripheral vision eyeglasses for bicyclists everywhere. It would provide a field of vision that will help avoid any accidents.

I hope this helps you! :)
Other Questions
Determine which package of laundry soap is the better buy: 65 ounces for 6.99 of 120 ounces of 12.99 What acidic and basic substances do you encounter in your everyday life activities? Never mistake motion for action. meaning Do you believe that sassanid persia or gupta india represent a form of the dynastic cycle as evidenced in chinese history? Nan is pregnant with her first child. she just found out that the baby has grown 1 pound since her last doctor's appointment. she is in the _____ period of prenatal development. Poetry, music. Which has more meaning when it comes to lyrics or wording? is 11:17 equivalent to 17:11 Explain what made the english settlement of new england distinctive Writing prompt: william bradford wrote the story using third person point of view. how would the excerpt be different if the young man were narrating? rewrite the beginning of the story from the young mans perspective. be sure to use complete sentences, and to cover all of the details discussed in the short story above. The minimum height for riding on the Super Screaming Spinner at the theme park is 52 inches. Which of the following expressions shows the height to ride? A. h < 52 B. h 52C. h > 52D. h 52 I need help with #7 please help What is 5.3 divided by 0.2 Please select the word from the list that best fits the definition Listing the potential causes of heart disease A. Categorization B. Visualization How do scientists determine the number of neutrons in an atom?Question 4 options:They subtract the atomic number from the atomic mass.They add the number of electrons and protons.They find the number of protons.They divide the atomic mass by two. Why do you think Pagis choose Adam, Eve, and their sons for the poem Written in Pencil in the Sealed Railway-Car? Luis starts at one corner of a square field and walks 80 feet along one side to another corner of the field. He turns 90 and walks 60 feet, and then walks straight back to where he started. What is the area of the part of the field he walked around?A.140 ftB.280 ftC.320 ftD.2400 ft Coughing and sneezing on foods can allow __________ to contaminate the food In order to learn to draw more realistically, we must overcome drawing symbols you must learn to draw from memory. Question 1 options: True False Where does the developmental life stage of emerging adulthood usually appear? A package of organic strawberries costs $1.50 while they are in season and $2.25 when they arent in season what is the percent increase? Steam Workshop Downloader