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AlekseyPX
3 years ago
14

Sporting goods charges .85 percent interest per month. what rate of interest are its credit customers actually paying?

Business
1 answer:
seraphim [82]3 years ago
8 0
To answer this item, we assume that the interest rate is simple, such that the yearly rate was only divided by 12 months in order to determine the rate per month. Hence, to answer this item, we simply have to multiply the given percent by 12.

                          rate of interest/year = (12)(0.85%) = 10.2%

Therefore, the answer is 10.2%. 
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The length of time that elapses between the day a firm purchases an inventory item and the day that item sells is called the ___
Lana71 [14]

Answer:

inventory period

Explanation:

According to my research on different financial terminology, I can say that based on the information provided within the question this time lapse is called the inventory period. Like mentioned in the question this is the number of days inventory is held, calculated by subtracting the sale date from the day of purchase.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
After the delivery of the condominium documents in the TREC Residential Condominium Contract the buyer may terminate the contrac
sweet-ann [11.9K]

Answer:

The buyer would have a 12-day option to terminate the contract. Otherwise, he or she might not have any other option than to stick to the contract. (That is, the buyer will not have the unrestricted right to terminate the contract again.)

Explanation:

7 0
2 years ago
At​ year-end, Simple has cash of $ 22 comma 000​, current accounts receivable of $ 80 comma 000​, merchandise inventory of $ 24
oee [108]

Answer:

45.62 days

Explanation:

For computing the average number of days receivables, first, we have to calculate the account receivable ratio. The formula is shown below:

Account receivable ratio = Net credit sales ÷ Average accounts receivable

where,

Average account receivable = (Beginning account receivable balance + ending account receivable balance) ÷ 2

Now put these values to the above formula

So, the answer would be equal to

= $480,000 ÷ ($40,000 + $80,000 ÷ 2)

= $480,000 ÷ $60,000

= 8 times

Now, the average level of​ receivables equals to

= Total number of days in a year ÷ Account receivable ratio

= 365 days ÷ 8

= 45.62 days

5 0
2 years ago
What is the most important thing about meeting new contacts
Dahasolnce [82]
I think A. Because I think it is very important to meet new people and getting to know them.
8 0
3 years ago
Read 2 more answers
What is the dirty price of a bond? the bond's price less an adjustment for changes in interest rates the bond's price based only
Sophie [7]

Answer:

The dirty price of a bond is referred to:

  • The actual price of the bond.
  • Also the cash flows in futureand its values.

Explanation:

Dirty price of bond: The dirty price of bond is referred to the actual and present value of the bond.

Also is referred to the present value of the bonds or the future cash flows.

In financial terms a dirty price of bond is said to be the bond's price which is including all the interests which has been added up since the most recent payment of the coupon.

Price quote of a bond: The price quote of a bond is referred to bond's clean price as it does not affects or reflects on all the interests which have been calculated for the bond since of its most recent coupon payment.

Bonds gets always quotes in terms of clean price but the financial investos always pay them in terms of Dirty price until the bond has to be purchased on the given date of coupon's payment.

7 0
3 years ago
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