Determine the annual financing cost % of a 6-month (183 day)
$376,619 discounted bank loan at a stated annual interest rate of 7
percent. Assume that no compensating balance is required and that
there
Answers
Given that the bank loan is a discounted bank loan of $376,619 for 6 months (183 days). The stated annual interest rate is 7%. We have to determine the annual financing cost % of the loan.
There are different methods for calculating the annual financing cost % of a discounted bank loan. Here, we will use the "More than 100" method.More than 100 Method:Formula: $10,000 = $1,000 + $i($1,000)×nWhere,$i = annual financing cost %n = loan period (in years)Let's calculate the annual financing cost % of the bank loan using the above formula:We know that the loan amount is $376,619. Since the formula has $10,000, we will use proportions.$10,000 is to $1,000 as $376,619 is to x ($i$)$$\frac{10000}{1000}=\frac{376619}{i}$$Simplifying, we get:$$i = \frac{10000 × 7}{(376619/1000)}$$
Therefore, the annual financing cost % of the bank loan is 18.63% (rounded to two decimal places).Hence, the correct option is (b) 18.63.
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Related Questions
Checking account transactions are NOT reported to the credit bureaus and do not affect your credit score. Why is it still important to manage your checking account well?
Answers
Answer: Too see if anyone is stealing or charging extra fees
Explanation:
The percentage of the US labor force that is unemployed is known as the __________.
A.
consumer price index
B.
gross domestic product
C.
national unemployment rate
D.
annual percentage change
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
Explanation:
C
Answer:
C. national unemployment rate
Explanation:
i did the quiz, hope this helps<3!!
what happens when ethanol is refluxed with acidified sodiumheptaoxodiochromate(4) solution for a long time
Answers
Answer:
1-butanol
Explanation:
How does American style differ from Japanese style? Japanese style is identified as casually elegant, often using very luxurious fabrics while American style is noted for being chic, sophisticated, and smart. Japanese style is identified as casually elegant, often using very luxurious fabrics while American style is noted for being chic, sophisticated, and smart. American style is identified as casual, athletic, and clean-cut while Japanese style is noted for having complicated cutting and structure. American style is identified as casual, athletic, and clean-cut while Japanese style is noted for having complicated cutting and structure. American style is identified as casually elegant, often using very luxurious fabrics while Japanese style is noted for being chic, sophisticated, and smart. American style is identified as casually elegant, often using very luxurious fabrics while Japanese style is noted for being chic, sophisticated, and smart. Japanese style is identified as casual, athletic, and clean-cut while American style is noted for having complicated cutting and structure.
Answers
Answer:
American style is identified as casual, and ethic and clean cut while japanese style is considered poorly and has been noted for having complicated cutting and structure
Explantion:
got it right on Edge 2022
Why do the media sensationalize issues?
A.
to generate interest in a story, attracting readers or viewers
B.
to ensure that both sides of a story are explored
C.
to remove bias from a story
D.
to make sure that only the most important issues get news coverage
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
A. to generate interest in a story to attract viewers and readers
under which of the following conditions is job dissatisfaction most likely to result in turnover?
Answers
Job dissatisfaction is most likely to result in turnover under the following conditions: Lack of career growth opportunities: When employees feel stuck in their current positions with limited prospects for advancement or professional development, their dissatisfaction with the job may prompt them to seek new opportunities elsewhere.
Inadequate compensation and benefits: If employees feel that they are not being adequately rewarded for their efforts, including salary, benefits, and incentives, they may become dissatisfied and be more inclined to leave the job in search of better compensation elsewhere.
Poor working conditions: Unfavorable working conditions, such as a toxic work environment, lack of work-life balance, excessive workload, or inadequate resources, can contribute to job dissatisfaction. In such cases, employees may choose to leave the organization in pursuit of a healthier and more supportive work environment.
Lack of job autonomy and control: Employees who feel micromanaged or have limited control over their work processes may experience a sense of frustration and dissatisfaction. The desire for more autonomy and the ability to make independent decisions may lead them to consider leaving the job.
Ineffective leadership and management: Poor leadership, lack of communication, and a lack of support from managers can significantly impact job satisfaction. When employees feel undervalued or unsupported by their superiors, they are more likely to seek employment elsewhere.
Mismatch between job expectations and reality: If employees have unrealistic expectations about their job roles, responsibilities, or the organization, and these expectations are consistently unmet, they may become dissatisfied. The perception that the job does not align with their initial expectations can drive turnover.
It is important to note that individual circumstances and motivations can vary, and job dissatisfaction alone may not always result in turnover. However, these conditions are commonly associated with increased likelihood of employees deciding to leave their current positions.
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Stagg Advertising Company's trial balance at December 31 shows Supplies $9,900 and Supplies Expense $0. On December 31 there are $1,500 of supplies on hand.Prepare the adjusting entry at December 31 and, using T accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.
Answers
To prepare the adjusting entry at December 31 for Stagg Advertising Company's supplies, we need to account for the supplies used during the period and adjust the Supplies and Supplies Expense accounts accordingly.
The adjusting entry would be as follows:
December 31:
Supplies Expense $8,400
Supplies $8,400
Explanation:
Debiting the Supplies Expense account with $8,400 reflects the amount of supplies that have been used during the period. This expense is recognized as it contributes to the cost of generating revenue.
Crediting the Supplies account with $8,400 reduces the balance to reflect the remaining supplies on hand at the end of the period. The initial balance of $9,900 minus the supplies on hand of $1,500 equals $8,400, which represents the supplies used.
Using T-accounts, let's enter the balances and post the adjusting entry:
Supplies Account
Beginning balance: $9,900
Adjusting entry: -$8,400
Adjusted balance: $1,500
Supplies Expense Account
Beginning balance: $0
Adjusting entry: $8,400
Adjusted balance: $8,400
After posting the adjusting entry, the adjusted balance in the Supplies account is $1,500, reflecting the supplies on hand. The adjusted balance in the Supplies Expense account is $8,400, representing the expense incurred for the supplies used during the period.
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Why is money management important? How would you rate your own money management?
Answers
Answer:
because it has money
Explanation:
Answer:
Money management is important because you should have a balance of bills to pay, and money you keep for fun. If you don't have this then you might have to pay to much money for bills, and you not having enough to pay them off.
Explanation:
What kinds of behaviors can prevent people from making smart investing decisions?
Answers
I have outlined below key cognitive biases that can lead to poor investment decisions.
Confirmation bias.
Information bias.
Loss aversion/endowment effect.
Incentive-caused bias.
Oversimplification tendency.
What are smart investing decisions?Making the best investment decisions that suit your unique circumstances in order to support the achievement of your long-term financial objectives is the essence of smart investing, which is an extension of the fundamental principles of investing. Savings accounts with high yields. Savings Bond Series I. certificates of deposit for brief periods. Money market investments. the safest investments with the best returns are frequently thought to be fixed indexed annuities and high-quality bonds. Bond funds and annuities come in a wide variety, each with their own risks and rewards. For instance, based on historical performance, government bonds tend to be more stable than corporate bonds. According to year-to-date returns, Bitcoin has outperformed all other assets, including gold, equities, and oil, and has experienced returns of up to 100,000,000% over the past several years.
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20 points Match each of the following amounts to appropriate economic item.
1. 3.3 trillion
2. 1.1 trillion
3. 28 trillion
a. total expenditures
b. national debt
c. current deficit
d. spending on defense
e. spending on income security
Answers
Answer:
ɪ ᴅᴏɴᴛ ᴋɴᴏᴡ
ᴛᴀᴍᴏᴅ ᴛᴀᴍᴏᴅ ᴛᴀᴍᴏs
Rick mendez bought stock for $5,000, using $2,500 of his own money and $2,500 borrowed from the broker. One month later, the stock is sold for $5,650. Interest owed to the broker is $30; brokerage commissions to buy and sell the stock totaled $300.
Answers
The rate of return earned by Rick Mendez from the stock investment is 12.8%.
What is the rate of return?The rate of return is the gain (or loss) earned from an investment expressed as a ratio of the initial investment cost.
For instance, the rate of return is the difference between the total costs of an investment and its sales proceeds, multiplied by 100.
The investment cost of stock = $5,000
Proceeds from the sale of the stock = $5,650
Broker's finance = $2,500
Interest on borrowed funds = $30
Brokerage commissions = $300
Total brokerage finance costs = $2,830
Net proceeds after brokerage costs = $2,820 ($5,650 - $2,830)
Investment using own funds = $2,500
Gain from investments = $320 ($2,820 - $2,500)
Rate of return = 12.8% ($320/$2,500 x 100)
Thus, we can state that Rick Mendez's investment in the stock yielded a return of 12.8%.
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Question Completion:What is the rate of return earned by Rick Mendez?
Create a minimum of 10 questions that you will ask your potential marketing client in order to be able to create and develop an advertising campaign for them. Utilize the information in the focus section above and in your course lessons. You will need to gather information about their company and its values, the area of focus for the ad campaign, target market, and other pertinent information.
Answers
Answer:
1. Are you advertising to a specific group of people/ Who is your target audience?
2. How would you reach out to that audience/What emotions are you trying to trigger within their minds?
3. How would you justify your prices?
4. Is your idea viable in the current market?
5. How would you differentiate your goods and services from any other similar products in the industry?
These are just examples. Hope this helps!
Which of the following is a protected class?
A. Educational status
B. Marketers
C. Benefits
D. Age
Answers
Answer:
D. Age
Explanation:
Protected class refers to the class in which the employees protected from discrimination by law. It can be in terms of age, religion, race, color etc. The persons who have age of 40 years or above is covered under the Age Discrimination in Employment Act (ADEA).
Therefore according to the given situation the correct answer is D.
You deposit $1,100 at the end of each year into an account paying 10.1 percent interest.
a. How much money will you have in the account in 16 years?
b. How much will you have if you make deposits for 32 years?
Answers
a. After 16 years of making annual deposits of $1,100 into an account paying 10.1 percent interest, you will have approximately $38,972.19 in the account.
b. After 32 years of making annual deposits of $1,100 into the same account, you will have approximately $155,134.46.
a. To calculate the amount of money you will have in the account after 16 years, you can use the formula for the future value of an ordinary annuity. In this case, the annuity is the annual deposit of $1,100, and the interest rate is 10.1 percent. Plugging in the values into the formula, the future value after 16 years is approximately $38,972.19.
b. Similarly, to calculate the amount of money you will have in the account after 32 years, you can use the same formula. Since the annuity period has doubled to 32 years, and you have made annual deposits of $1,100, the future value will be significantly higher. Plugging in the values, the future value after 32 years is approximately $155,134.46.
In both cases, the future value is determined by the compounding effect of the annual deposits and the interest earned on those deposits over time. The longer the time period and the higher the interest rate, the greater the accumulated amount will be.
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how many months weeks days are in 157 days?
Answers
To create a balanced budget one, must make sure to...
a) spend as little as possible
b) pay credit card payments first
c) spend less than or equal to income
d) pay off debts first
Answers
Answer:
c) spend less than or equal to income
by spending less than or equal to, you are balancing a budget. You are creating a balance between income and expense, which supports a steady/consistent, and logical budget.
^entire answer has been updated.
nternet can contain viruses. Unless you need to edit it's safer to stay in Protected View. Enable Editing Case 6.2: The Complaint Letter 1. Briefly summarize the complaints and compliments in Dr. Loflin's letter. 2. Critique the letter of Gail Pearson in reply to Dr. Loflin. What are the strengths and weaknesses of the letter? 3. Prepare an "improved" response letter from Gail Pearson. 4. What further action should Gail Pearson take in view of this incident?
Answers
Gail Pearson's response letter to Dr. Loflin was criticized for lacking follow-up on correcting the errors. An improved response letter should emphasize the promised actions to correct the errors.
1. In Dr. Loflin's letter, she compliments Gail Pearson for her effective and efficient manner in handling their project, but complains about the report that was submitted to her as the report was filled with grammatical errors and inaccuracies.
2. Gail Pearson's response letter showed strength in its apologies and sincere acknowledgments of the errors made, as well as the promise to remedy the mistakes in future reports. However, it also showed a lack of follow-up regarding how the report would be corrected, and it included the note about Dr. Loflin's writing that was not necessary to the matter.
3. The improved response letter from Gail Pearson should emphasize the promised actions to correct the errors in the report, along with the details of how the corrections would be made. This letter should apologize to Dr. Loflin again for the inconvenience that was caused and should show empathy towards her, expressing an understanding of her frustration.
4. In view of this incident, Gail Pearson should take further action to ensure that the report is completely corrected and free of errors, and to ensure that a similar situation will not happen again. Gail should provide a plan or a detailed procedure on how they will review and correct the work, and they should include the steps that will be taken to avoid a similar mistake.
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In her business communications class, matilda's teacher is focusing the week's lessons on correctness. paying attention to this characteristic will help communications be what? question 3 options: a. inclusive b. friendly and positive c. accurate and error free d. free from unnecessary words
Answers
In Matilda's business communications class, focusing on correctness will help communications be accurate and error-free.
Correctness in business communication means that the message is free from grammatical errors, typos, and other mistakes that could lead to confusion or misinterpretation. When communications are correct, they decision-making are clear and easy to understand, ensuring that the intended message is received and acted upon. Accuracy is particularly important in business communication, where even a small error could have significant consequences, such as causing a miscommunication that leads to a missed deadline or lost business opportunity. By focusing on correctness, Matilda and her classmates will learn how to produce clear, accurate, and error-free business communications that are effective in achieving their intended goals.
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Analyse why the social benefit of education exceed the private benefit
Answers
Answer:
dddddddddddd
Explanation:
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxs
PROJECT: USING ADVANCED FORMULAS
Suppose you own a small business with ten employees. Small businesses use spreadsheets for a variety of reasons.
OBJECTIVES
Create a spreadsheet to track payroll.
Directions
Create a spreadsheet to calculate the your company's payroll, or how much you pay each employee and the total you pay all employees.
You pay your employees every two weeks, and for the last two weeks, your employees worked the following hours:
Employee 1: 78
Employee 2: 75
Employee 3: 80
Employee 4: 45
Employee 5: 50
Employee 6: 80
Employee 7: 65
Employee 8: 60
Employee 9: 78
Employee 10: 75
Your spreadsheet should calculate:
the total hours worked for each employee
the gross pay for each employee (pay rate is $12.50 per hour)
the state income tax for each employee (use 5.7%)
the Federal income tax for each employee (use 15%)
Social Security for each employee (use 3.5%)
the net pay for each employee by subtracting the income tax and Social Security from the gross pay
the total gross pay, total state income tax, total Federal income tax, total Social Security, and total net pay paid to all employees
When you finish your spreadsheet, estimate your answers to check for accuracy. Make any necessary corrections. Use formatting techniques to make your spreadsheet easy to read. Upload your spreadsheet using the Upload tool in the box below.
Answers
Answer:
Total hours worked for two weeks by all employees = 686 hours
Total Gross pay of all employees = $8,575.00
Total State income tax of all employees = $488.78
Total Federal income tax of all employees = $1,286.25
Total Social Security of all employees = $300.13
Total Net Pay of all employees = $6,499.85
Explanation:
Note: See the attached excel file for the calculation of the company's payroll or amount paid to each employee and the total amount paid to all employees on a spreadsheet as required by the question.
In the attached excel file, the following formula are used:
Gross pay for each employee = Pay rate of $12.50 per hour * Total hours worked for two weeks by each employee
State income tax for each employee = 5.7% * Gross pay for each employee
Federal income tax for each employee = 15% * Gross pay for each employee
Social Security for each employee = 3.5% * Gross pay for each employee
Answer:
here you go edmentum
Explanation:
Use the drop-down menus to explain how to create a one-to-one relationship using the primary keys of two tables.
1. Open the database.
2. On the Database Tools tab, in the Relationships group, click
3. On the Relationship Tools Design tab, in the Relationships group, click
4. In the dialog box, click one of the tables to add, and click Add
5. Click the other table to add, click Add, and click
6. Click and drag the primary key from a table, and drop it on the primary key of the other table.
7. In the Edit Relationships dialog box, make sure the correct fields are being linked.
8. Click the Enforce Referential Integrity checkbox, and click
Answers
Answer:
2. Relationship
3. Show table
4.
5. Close
6.
7.
8. Create
Explanation: Just did it on edge
Answer:
Relationships, Show Table, Close, Create
Explanation:
Just finished it
Depreciation is the accountant's estimate of the cost of ______ used in the production process matched with the benefits produced from owning it.
Answers
Answer:
Fixed assets and equipment
Explanation:
Depreciation is the accountant's estimate of the cost of fixed assets and equipment used in the production process matched with the benefits produced from owning it.
It is the decrease in the value of assets and the method used to reallocate the cost of asset over its useful life span.
Assets can be categorized as :
1. Current
2. Fixed
3. Tangible
4. Intangible assets.
In accounting, there are several standard methods of computing depreciation expense:
1. Fixed percentage
2. Straight line
3. Declining balance methods.
Individuals who have been using the Wii do not want to switch to the Move because they relate it to a superior gaming experience and also because it has been in the market for a long time. The Wii is an example of a product that has _____.
Answers
The answer to the given question is as follows:Explanation:Individuals who have been using the Wii do not want to switch to the Move because they relate it to a superior gaming experience and also because it has been in the market for a long time.
The Wii is an example of a product that has high brand equity. High brand equity refers to a product that has strong brand recognition and is generally viewed favorably by consumers.
The product enjoys high consumer loyalty and demand. This means that the Wii has a strong brand identity, which leads to customer preference and loyalty over a longer period of time.
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Employers search résumés for keywords manually and electronically. Please select the best answer from the choices provided T F.
Answers
A resume is a formal document created by a job candidate to itemize their skills for a post.
What are the meanings of keywords in job applications?Keywords are words or brief sentences that correspond to work requirements. Hiring managers use keywords to sort through resumes so that they can concentrate on applicants who have the qualifications and experience they seek.
Many businesses also utilize applicant tracking systems (ATS) to discover the most qualified candidates.
Thus the statement is true.
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Answer:
true
Explanation:
When you start a new job, you receive a form that you use to prove that you are eligible to work in the U.S. What is this form?
Answers
I believe it's a Work Permit.
How is a 401k different from an individual retirement account (IRA)?
A 401k is a good long-term investment strategy.
A 401k allows people to contribute before taxes.
A 401k is created by an individual who deposits money.
A 401k is created by an employer who may match contributions.
Answers
What is the future value (FV) of $50,000 in thirty years, assuming the interest rate is 12% per year? A. $1,348,197 B. $1,273,297 C. $32,500 D. $1,497,996
Answers
The future value (FV) of $50,000 in thirty years at an interest rate of 12% per year is approximately $1,497,996.
This is calculated using the compound interest formula, where the initial amount (present value) is multiplied by the growth factor (1 + interest rate) raised to the power of the number of compounding periods (in this case, 30 years). By applying the formula, we find that the investment of $50,000 will grow to nearly $1.5 million over the thirty-year period. This demonstrates the power of compounding, where the interest earned on the initial investment is reinvested and contributes to the growth of the investment over time. Thus, the correct answer is D. $1,497,996.
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georgio owns a 20 percent profits and capital interest in rain tree llc. for the current year, rain tree had the following revenues, expenses, gains, and losses:
Answers
As Georgio owns a 20 percent profits and capital interest in Rain Tree LLC for the current year. He is entitled to a portion of the company's profits and has invested his own capital into the business.
For the year in question, Rain Tree had various revenues, expenses, gains, and losses. Revenues refer to the income the company earned from sales or services, while expenses are the costs associated with running the business. Gains are the positive differences between the sale price of an asset and its purchase price, while losses are the negative differences. Georgio's share of the profits will be determined based on Rain Tree's overall financial performance and the terms of his ownership agreement. He may receive a portion of the revenues or gains, but will also bear a portion of the losses and expenses.
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if oil prices decline, the short-run aggregate supply curve shifts _____ and output supplied will _____.
Answers
If oil prices decline, the short-run aggregate supply curve shifts to the right, and output supplied will increase.
This is because lower oil prices lower the production costs of firms that rely heavily on oil as an input, such as transportation and manufacturing industries. As a result, firms can produce and supply more goods and services at lower costs, leading to an increase in output supplied in the short run.
The shift in the short-run aggregate supply curve to the right also leads to lower prices for goods and services, as firms are able to produce more efficiently. However, in the long run, the increased output supplied may lead to higher prices if the increase in demand exceeds the increase in aggregate supply.
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When henrietta lacks’ tumor was harvested and distributed, what relevant recommendations of the belmont report were followed or not followed?.
Answers
The "Respect for Person" in the Belmont report was not upheld when Henrietta tumor was spread. Without her consent, the doctors removed her cells for use in general research.
What pertinent Belmont Report recommendations were carried out or not when the tumor from Henrietta Lacks was removed and distributed?The Belmont report's "Respect for Person" principle was not upheld when Henrietta tumor was spread.
Without getting her approval, the doctors harvested her cells for use in general research. Henrietta was not given the chance to choose whether or not she wanted to contribute to science. Justice was another pertinent suggestion that wasn't carried out. Due to her or her family not receiving any advantage from this contribution, justice was not carried out as well. Although everyone is still aware of what happened, neither John Hopkins nor the doctors faced any repercussions for their behavior.
The rights of Henrietta Lacks were they violated? Which ones, if any?The rights of Henrietta were openly violated. The doctors' removal of the cells was a violation of her right to consent. She consented for the tumor to be removed but not for her participation in a research study.
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