Answer:
Business environment refers to those aspects of the surroundings business enterprise, which affect or influence its operations and determine its effectiveness. According to Keith Davis, “Business environment is the aggregate of all conditions, events and influence that surrounds and affect it”.
Explanation:
<span>The interest rate can drastically change the total amount paid to the lender</span>
Answer:
Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equally shared.
a. True
Explanation:
The incidence of the FICA tax refers to the extent to which an individual employee or the employing organization suffers from the imposition of the FICA tax. In the final analysis, the incidence may not be borne by the organization but consumers of its goods and services, depending on the elasticity of demand. Employers and employees usually split the FICA tax equally. The FICA (Federal Insurance Contribution Act) refers to the federally mandated tax for Social Security and Medicare.
Answer:
The closing balance from the excel sheet is $5,000.00
Explanation:
Solution
Given that:
The loan balance required l for each month can be computed as follows:
The loan balance = additional cash needed – cash used to retire debt + loan balance from previous month
Now
By applying the excel formula to perform this task is stated as follows:
D34 = SUM(D31-D33,C34)
The same formula is used to get the values for E34 to I34.
Kindly find an attached copy of the updated excel sheet after applying above formula which is a part of the solution is as follows:
Answer:
First National Bank's EAR is 11.68%
First United Bank's EAR is 11.62%
Explanation:
Effective annual rate=(1+APR/m)^m-1
APR is the annual rates given in the question as 11.1% and 11.3%
m is the number of times in the year that compounding is done, for instance, it is 12 for monthly compounding and 2 for semiannual compounding
First National Bank's EAR=(1+11.1%/12)^12-1=11.68%
First United Bank's EAR=(1+11.3%/2)^2-1=11.62%
The EAR for First National Bank is higher
