You put $300 into a savings account with an interest rate of 8% which earns $144.00 over a period of

First Bank offers personal loans at 7.7 percent compounded monthly. Second Bank offers similar loans at 7.4percent compounded da

Korolek [52]

Answer:

The First Bank loan has an effective rate of 7.98 percent.

Explanation:

we calcualte the effective rate for both loand and check which statement is correct.

First bank:

$(1+\frac{0.077}{12} )^{12} = 1 + r_e$

$(1+\frac{0.077}{12} )^{12} - 1 = r_e$

1.07977643 - 1 = 0.07977 = 7.98%

Second bank:

$(1+\frac{0.074}{365} )^{365} = 1 + r_e$

$(1+\frac{0.077}{365} )^{365} - 1 = r_e$

1.076798729 - 1 = 0.076798729 = 7.68%

Notice tthis isthe effective rate not the annual percentage rate.

So only the statement abour the first bank effectibe rate is true.

7 0

3 years ago

Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of

Vesnalui [34]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

7 0

2 years ago

Corporate codes of ethical conduct: Select one: a. effectively deter unethical behavior. b. are sometimes viewed as thinly disgu

skad [1K]

Answer:

B

Explanation:

Corporate code of ethics is defined as a set of laid down rules and regulation that is meant to inform and guides the workers towards professionally conducting themselves in a way that aligns with the mission and core values of the organization .

However , having a code of ethical conduct in place in an organization does not mean compliance , until necessary measures for compliance are put in place. Therefore it is possible to have the code of ethics with minimum or no compliance to it. Based on this , it can sometimes be viewed as thinly disguised attempts to mislead the public into thinking that the company behaves ethically.

5 0

3 years ago

Bell Co. changed from a traditional manufacturing philosophy to a just-in-time philosophy. What are the expected effects of this

kotykmax [81]

Answer:

C. Increase， Decrease

Explanation:

Inventory turnover is increased because there are very low or almost nill Closing inventorya as we divide the cost of goods sold with a lower number. Inventory as a percentage to total asset will be decrease because there will be a lower value ofinventory in the balance sheet. Comparing it with total value of asset tells us the percentage of total asset.

7 0

2 years ago

The manager at Vertical Wire Productions reported total sales revenue of $800,000. The variable expenses were $600,000, and ther

Brilliant_brown [7]

Answer:

$BEP_{dollars} = 500,000$