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Bond [772]
3 years ago
13

On April 31, 2018, Elkhorn Associates borrowed $10 million cash from Colonial Bank and issued a 5-month, noninterest-bearing not

e, priced to yield an effective interest rate of 10%. The stated discount rate on this loan is:
a. More than the effective interest rate.
b. Less than the effective interest rate.
c. Equal to the effective interest rate.
d. Unrelated to the effective interest rate.
Business
1 answer:
Nady [450]3 years ago
4 0

Answer:

b. Less than the effective interest rate

Explanation:

The stated discount rate on this loan is Less than the effective interest rate

As the note is noninterest-bearing note, the stated discount rate on this loan is less than the effective interest rate.

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The correct answer is True.

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NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.

6 0
3 years ago
You have been hired as a consultant to Freedom Inc. a consumer-focused financial institution intending to enter the Ghanaian mar
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firstly; the area to start with. find out more about the place. Their income and the rate at which goods are sold there.

5 0
2 years ago
The following data apply to Elizabeth's Electrical Equipment:
Romashka [77]

Answer:

$50

Explanation:

Calculation to determine the intrinsic per share stock price be immediately after the repurchase

First step

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Total Assets=$21,000

Second step

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4 0
3 years ago
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