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vivado [14]
1 year ago
8

the records of pippins, incorporated, included the following information: net sales $ 1,000,000 gross margin 475,000 interest ex

pense 50,000 income tax expense 80,000 net income 240,000 compute the times interest earned ratio, rounded to the nearest decimal. multiple choice 4.8 6.4 7.4 20.0
Business
1 answer:
Dafna11 [192]1 year ago
7 0

The time interest earned ratio of the company was found to be 7.4 times to the expenses.

EBIT = Net Income + Interest Expense + Income tax Expense

= 240,000 + 50,000 + 80,000

= 370,000

Times Interest Earned Ratio:

EBIT / Interest Expense

= 370,000 / 50,000

= 7.4 times

Times interest earned ratio is a good way to measure a company's financial performance because it shows a company's ability to pay interest charges on its debts the ratio is calculated by taking a company's net income before interest and taxes and dividing it by the company's interest expense.

Learn more about Debts at : brainly.com/question/17286021

#SPJ4

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Although Costco pays its employees substantially more than its closest competitor, Sam’s Club, it has similar financial returns
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Although Costco pays its employees substantially more than its closest competitor, Sam’s Club, it has similar financial returns on its labor costs due to lower turnover and higher levels of productivity

Option A

<u>Explanation: </u>

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Scott is a 15-year-old student who works at a part-time job and gets paid every two weeks. His paycheck goes directly to his pre
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4 0
1 year ago
If 7000 dollars is invested in a bank account at an interest rate of 7 per cent per year, Find the amount in the bank after 14 y
Harlamova29_29 [7]

Answer:

1. Interest compounded annually = $18,049.74

2. Interest compounded quarterly = $18,493.77

3. Interest compounded Monthly = $18,598.16

4. Interest compounded continuously = $18,651.19

Explanation:

First let me state the formula for compound interest:

The future value of a certain amount which is compounded is the total amount (Principal + interest) on the amount of money, after compound interests have been applied, and this is shown below:

FV = PV (1+\frac{r}{n} )^{n*t}

where:

FV = Future value

PV = Present value = $7,000

r = interest rate in decimal = 0.07

n = number of compounding periods per year

t = compounding period in years = 14

For interests compounded continuously, the Future value is given as:

FV = PV × e^{r*t}

where

e is a mathematical constant which is = 2.7183

Now to calculate each on the compounding periods one after the other:

1. Interest compounded annually:

here n (number of compounding periods annually) = 1

Therefore,

FV = 7,000 × (1+\frac{0.07}{1})^{14}

FV = 7,000 × 1.07^{14} = $18,049.74

2. Interest compounded quarterly:

here, n = 3 ( there are 4 quarters in a year)

FV = 7,000 × (1+\frac{0.07}{4} )^{4*14}

FV = 7,000 × 1.0175^{56} = $18,493.77

3. Interest compounded Monthly:

here n = 12 ( 12 months in a year)

FV = 7,000 × (1+\frac{0.07}{12} )^{12*14}

FV = 7,000 × 1.005833^{168} = $18,598.16

4. Interests compounded continuously:

FV = PV × e^{0.07 * 14}

FV = 7,000 × 2.66446 = $18,651.19

3 0
2 years ago
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