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QveST [7]
2 years ago
7

Dakota Mining Company pays its bills and employees with checks drawn on a bank from another part of the country. Checks usually

take about three days to clear the firm's account. _____ is the advantage gained during the check-clearing time.
Business
1 answer:
UNO [17]2 years ago
7 0

Dakota Mining Company pays its bills and employees with checks drawn on a bank from another part of the country. Float  is the advantage gained during the check-clearing time.

<h3>What is float?</h3>

Generally, The float is money in the banking system that is momentarily counted twice owing to time delays in reporting a deposit.

In conclusion,  the advantage gained during the check-clearing time is called float

Read more about Banking

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The Rule of 70 applies in any growth rate application. Let’s say you have $1000 in savings and you have three alternatives for i
AlekseyPX

Answer:

a. 7,000 years

b. 2,333 years

c. 875 years

Explanation:

Based on rule of 70, we can have the following formula to do the calculation:

Number of years to double = 70 ÷ Interest rate per year .................... (1)

We can now calculate as follows:

a. A savings account earning 1% interest per year.

Number of years to double = 70 ÷ 1% = 7,000 years

b. A U.S. Treasury bond mutual fund earning 3% interest per year.

Number of years to double = 70 ÷ 3% = 2,333 years

c. A stock market mutual fund earning 8% interest per year.

Number of years to double = 70 ÷ 8% = 875 years

Note:

It can be observed that the higher the interest rate, the lower the number of years it will take the investment to double.

3 0
3 years ago
Do lenders always accept applications for credit?
Yakvenalex [24]
NO. Lenders doesn't always accept application for credit. They always perform investigation about the financial status of the applicant. Only once the financial status of the applicant is finished reviewed and passed, the application for credit will be accepted.
4 0
3 years ago
20 points, 1 question , some reading
kow [346]

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3 0
3 years ago
Texas Inc. has 10,000 shares of 6%, $125 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock ou
katovenus [111]

Answer:

$75,000

Explanation:

Calculation for the annual dividend on the preferred stock

Using this formula

Annual Dividend= Number of shares × Par value × Dividend %

Let plug in the formula

Annual Dividend= 10,000 shares × $125 × 6%

Annual Dividend= $75,000

Therefore the annual dividend on the preferred stock will be $75,000

5 0
3 years ago
What is the amount of the payments that Ned Winslow must make at the end of each of 8 years to accumulate a fund of $90,000 by t
nekit [7.7K]

Answer:

Amount to be paid annually by Ned Winslow = $8461.35

Explanation:

Fv = <u>A ( 1 + r)∧n  - 1 </u>

              r

90,000   =   <u>A  ( 1 + 0.08)∧8  - 1</u>

                         0.08

90,000 =   <u>A ( 1.8509 - 1)</u>

                       0.08

90,000  =   10.6366A

A =     90,000/10.6366

=   $8,461.35

3 0
3 years ago
Read 2 more answers
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