14.9228% effective annual interest rate does this credit card charge.
What is interest?
Interest is the fee you charge for lending money or the expense of borrowing it. The actual amount plus interest must be paid, plus a percentage.
The annual interest rate formula is
EAR=(1+r/m)m−1
r = interest
m = monthly
EAR= (1+13.99% / 12)12−1
EAR= (1+0.139912)12−1
EAR = 0.149228
EAR = 14.9228%
Hence, the significance of the interest is aforementioned.
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Answer:
The effective purchasing purchasing power of the initial loan of $6,200,000 when the firm repays is $3,444,444
If the original purchasing power of the $6,200,000 is to be maintained the firm must repay $ 11,160,000
Explanation:
In computing the figures above, I adhered strictly to the hints given in the question the purchasing of the original should be calculated by dividing the original amount by 1 plus cumulative inflation rate of 80% and that the amount should be multiplied by 1 plus cumulative inflation rate to arrive the amount needed as repayment to maintain the purchasing of the initial loan amount.
Find attached for detailed computations
Answer: $27000
Explanation:
The amount of goodwill impairment on December 31, 2020 will be:
Amount if goodwill = Net book value - Fair value
= $792,000 - $765,000.
= $27000
Therefore, the amount of Goodwill is $27000
Answer:
Operating Activity
Explanation:
The Indirect method, reconciles the Operating Profit to the Operating Cash Flow by adjusting the following items (1) Non Cash flow items previously added or deducted from Operating Profit and (2) Changes in Working Capital items.
Amortization of bond premium is an item of non-cash flow that was previously deducted from Operating Profit and needs to be <em>added</em> back.
This is true because you have to know what the other person is talking about. ;)
