All categories

3 years ago

What is a hard inquiry?

Business

2 answers:

mote1985 [20]3 years ago

6 0

Credit inquiries where a potential lender is reviewing your credit because you’ve applied for credit with them

stiv31 [10]3 years ago

6 0

Hard inquiries are credit inquiries where a potential lender is reviewing your credit because you've applied for credit with them. These include credit checks when you've applied for an auto loan, mortgage or credit card. Each of these types of credit checks count as a single credit inquiry.

You might be interested in

Jefferson Company has sales of $300,000 and cost of goods available for sale of $270,000. If the gross profit ratio is typically

Anna71 [15]

Answer:

A. $60,000

Explanation

Calculation for what the estimated cost of the ending inventory under the gross profit method would be

First step is to calculate the Gross profit

Gross profit= $300,000 *30%

Gross profit= $90,000

Second Step is to calculate the cost of goods sold

Cost of goods sold=$300,000-$90,000

Cost of goods sold= $210,000

Last step is to calculate the estimated cost of the ending inventory under the gross profit method

Using this formula

Estimated cost of the ending inventory=

Cost of goods available for sale- Cost of goods sold

Let plug in the formula

Estimated cost of the ending inventory=$270,000-$210,000

Estimated cost of the ending inventory=$60,000

Therefore the estimated cost of the ending inventory under the gross profit method would be $60,000

4 0

3 years ago

Bond P is a premium bond with a coupon rate of 10 percent. Bond D has a coupon rate of 5 percent and is currently selling at a d

mezya [45]

Answer:

Stock P's current yield = 8.18%

Stock D's current yield = 5.87%

Stock P's capital gains yield = -1.31%

Stock D's capital gains yield = 1.4%

Explanation:

price of bond P:

0.07 = {100 + [(1,000 - MP) / 10]} / [(1,000 + MP) / 2]

0.07 x [(1,000 + MP) / 2] = 100 + [(1,000 - MP) / 10]

0.07 x (500 + 0.5MP) = 100 + 100 - 0.1MP

35 + 0.035MP = 200 - 0.1MP

0.135MP = 165

MP = 165 / 0.135 = $1,222.22

price of bond D:

0.07 = {50 + [(1,000 - MP) / 10]} / [(1,000 + MP) / 2]

0.07 x [(1,000 + MP) / 2] = 50 + [(1,000 - MP) / 10]

0.07 x (500 + 0.5MP) = 50 + 100 - 0.1MP

35 + 0.035MP = 150 - 0.1MP

0.135MP = 115

MP = 115 / 0.135 = $851.85

current yield = dividend / stock price

Stock P's current yield = 100 / 1,222.22 = 8.18%

Stock D's current yield = 50 / 851.85 = 5.87%

price of bond P in one year:

0.07 = {100 + [(1,000 - MP) / 9]} / [(1,000 + MP) / 2]

0.07 x [(1,000 + MP) / 2] = 100 + [(1,000 - MP) / 9]

0.07 x (500 + 0.5MP) = 100 + 111.11 - 0.111MP

35 + 0.035MP = 211.11 - 0.111MP

0.146MP = 176.11

MP = 176.11 / 0.146 = $1,206.23

price of bond D in one year:

0.07 = {50 + [(1,000 - MP) / 9]} / [(1,000 + MP) / 2]

0.07 x [(1,000 + MP) / 2] = 50 + [(1,000 - MP) / 9]

0.07 x (500 + 0.5MP) = 50 + 111.11 - 0.111MP

35 + 0.035MP = 161.11 - 0.111MP

0.146MP = 126.11

MP = 126.11 / 0.146 = $863.77

capital gains yield = (P₁ - P₀) / P₀

Stock P's capital gains yield = (1,206.23 - 1,222.22) / 1,222.22 = -1.31%

Stock D's capital gains yield = (863.77 - 851.85) / 851.85 = 1.4%

6 0

3 years ago

Which of the following statements regarding cash equivalents is INCORRECT? A. Most companies include additional information abo

zhannawk [14.2K]

Answer:

B. Because cash equivalents are less liquid than cash, they must be reported separately from the Cash account

Explanation:

The <em><u>combined amount of cash and cash equivalents</u></em> will be reported on the balance sheet as the first line item in the section with the heading current assets.

These cash equivalents are short-term, highly liquid investments with a maturity date that was 3 months or less at the time of purchase.

In other words, there is very little risk of collecting the full amount being reported.

8 0

3 years ago

the fijian dollar is currently trading for AUD 2.55. if the interest rate in australia is 5.5% and the interest rate in New Zeal

Roman55 [17]

Since the interest rate in Australia is 5.5% and the interest rate in New Zealand is 6.5%, then the one-year forward exchange rate is 1 Fijian dollar equals 2.53 AUD.

The information given from the question is that 1 Fijian dollar = 2.55 AUD.

Based on the information, the foreign currency is Fijian dollar while the home currency is AUD. Therefore, the forward rate will be:

= 2.55 × [(1 + 5.5%) / (1 + 6.5%)

= 2.55 × (1.055 / 1.065)

= 2.55 × 0.99

= 2.53

In conclusion, 1 Fijian dollar equals 2.53 AUD.

Read related link on:

brainly.com/question/25435079

4 0

3 years ago

May Corporation, a merchandising firm, has budgeted sales as follows for the third quarter of the year:

Tema [17]

Answer:

Purchases= $63,050

Explanation:

Giving the following information:

Sales:

July $80,000

August $90,000

September $70,000

The cost of goods sold is equal to 65% of sales.

The company wants to maintain a monthly ending inventory equal to 130% of the Cost of Goods Sold for the following month.

The inventory on June 30 is less than this ideal since it is only $65,000.

To calculate the purchases for July, we need to use the following formula:

Purchases= sales + desired ending inventory - beginning inventory

Purchases= 80,000*0.65 + (90,000*0.65)*1.3 - 65,000

Purchases= $63,050

7 0

3 years ago