Net pay = gross pay minus deduction
459.32 - (33.19 + 82.91) = 343.22
Net pay = $343.22
Answer:
a. $5
b. $4
c. $6
Explanation:
a. store A?
Beginning balance = $300
Ending balance = $300 - $100 = $200
Average balance = ($300 + $200) ÷ 2 = $250
Monthly APR = 24% ÷ 12 = 2%
June finance charge = Average balance × Monthly APR = $250 × 2% = $5
b. store B
June finance charge = (Beginning balance - Payments) × Monthly APR = ($300 - $100) × 2% = $4
c. store C?
June finance charge = Beginning balance × Monthly APR = $300 × 2% = $6
A budget isn’t an expense, nor is a new computer rather an asset
Answer:
$41.56
Explanation:
Since Antiques' dividends have a negative growth rate, we must adjust the perpetuity growth formula to recognize that negative growth:
stock price = [dividend (1 + growth rate)] / (required rate of return - growth rate)
- dividend = $7
- growth rate = -5%
- required rate of return = 11%
stock price = [$7 (1 - 5%)] / (11% - -5%) = ($7 x 95%) / 16% = $6.65 / 16% = $41.56
