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Agata [3.3K]
1 year ago
6

McCallister's just purchased $16,500 worth of inventory. The terms of the sale were 1/15, net 45. What is the implicit interest?

Business
1 answer:
Greeley [361]1 year ago
3 0

The implicit interest based on the information given is $165.

<h3>How to calculate the interest?</h3>

It should be noted that the implicit interest is calculated as:

= Inventory worth × Discount rate

= $16500 × 1%

= $165

Therefore, the implicit interest based on the information given is $165.

Learn more about interest on:

brainly.com/question/24080432

#SPJ1

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Which one of the following will produce the highest present value interest factor? A. 6 percent interest for five years B. 6 per
disa [49]

Answer:

The correct answer is A

Explanation:

The formula to compute the present value interest factor using excel is as:

= 1/(1+r)^ n

where

r is the rate

n is number of years

So, in case of A,

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= 1/(1+0.06)^5

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In case of B,

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= 1/(1+0.06)^8

= 0.62741

In case of C,

The present value interest factor is:

= 1/(1+0.06)^10

= 0.55839

In case of D,

The present value interest factor is:

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3 0
3 years ago
Mary is filing Head of Household with a taxable income of $79,280. What is her income tax for Marks: 1 2018? Choose one answer.
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Answer:

a. $11,989

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tax rate // for income above

0.1        //  $           0

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0.22       //   $  51,800

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Mary's income of $79,280 is on the third bracket as is lower than the minimum for the fourth bracket.

first bracket:

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second bracket:

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third bracket

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total tax income: 11,989.6

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