South Central Bank pays 2.5 percent interest, compounded annually, on its savings accounts. Northern Bank pays 2.5 percent simple interest on its savings accounts. You want to deposit sufficient funds today so that you will have $1,500 in your account 2 years from today. The amount you must deposit today:

will be greater if you invest with South Central Bank.

is the same regardless of which bank you choose because they both pay the same rate of interest.

is the same regardless of which bank you choose because they both pay simple interest.

will be greater if you invest with Northern Bank.

is the same regardless of which bank you choose because the time period is the same for both banks.

When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $

Goldman services hired a new clerk to keep custody of and maintain all the equipment in the equipment yard. the clerk has not yet been adequately trained on the maintenance needs of the equipment. which internal control procedure needs strengthening?

You have just made your first $5,500 contribution to your retirement account. assume you earn a return of 10 percent per year and make no additional contributions. a. what will your account be worth when you retire in 45 years? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. what if you wait 10 years before contributing?