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kupik [55]
3 years ago
14

What is the maturity date of a loan for $4,000 at 15% exact interest taken out on June 7? The amount of interest on the loan was

$120.
Business
1 answer:
Annette [7]3 years ago
6 0

Answer:

The loan is due on August 18th

Explanation:

Simple interest is defined as the amount that is paid on a loan over a period of time. The interest is paid along with the principal in the course of loan tenure.

The formular for simple interest bis given as

Interest= principal* Interest rate* time

We are to calculate the loan duration and it was disbursed on June 7.

120= 4,000* 0.15* time

Time = 120/(4,000*0.15)= 0.2 years

Time = 0.2* 365 days

Time= 73 days

Therefore the loan is due on August 18th

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CMr. Garcia is listening to an investment planner talking about mutual funds; Garcia really believes in investing in such funds
ludmilkaskok [199]

Answer: False

Explanation:

Mr. Garcia should not accept the planner's ideas without critical evaluating the point the planner gave when he was discussing with him.

Mr Garcia should give his opinion on the issue raised by the planner and make inquiries so that the planner will give more detailed analysis regarding the investment.

The evidences gotten while discussing with him can be used to determine if the project is worth it or not.

4 0
2 years ago
Your friend says to you, "America is one of the fairest countries in the world because we have a democracy, and we are able to v
professor190 [17]

Answer and explanation:

Democracy is the state in which individuals of a community make decisions collectively being the interest of most people prioritized. A pure form of democracy is difficult to find even in countries that highly promote equal rights such as the United States.

The Democracy Index is a composite that measures democracies in 167 countries scoring them from 1 to 10 (10 is the highest grade). In 2019, The U.S. was positioned in the 25th place in the list of most democratic countries. <em>Norway </em>is placed in the first place followed by <em>Iceland</em>.

In such a case, <em>we should recommend our friend to take a look at the Democracy Index where he or she will find out that the U.S. is not one of the fairest nations in the world. Its government functioning and political participation are aspects where the U.S. needs improvement.</em>

6 0
3 years ago
A financial adviser manages an equity portfolio for an endowment fund, which has an 8.2% return objective. The adviser makes a s
MArishka [77]

Answer:

The endowment fund is not satisfied with the advisor's performance

Explanation:

Judging from a nominal interest rate perspective where return expected of an investment comprises of real rate of return and an extra return which is a compensation for inflation rate in the economy,the endowment fund is not satisfied with performance of the advisor.

The satisfactory rate of return that would be expected of the advisor is computed below:

nominal interest rate=real rate+inflation rate

real rate is 8.2%

inflation rate is 2.9%

nominal interest rate=8.2%+2.9%

                                  =11.10%

3 0
2 years ago
The volume of international trade is governed by factors including the level of domestic economic activity (for example, prosper
Marat540 [252]

Answer:

True

Explanation:

International trade is trade across national boundaries and it includes the import and export of goods and services. An economic prosperity is synonymous with rising incomes and it would increase the propensity to import; that is, people in the domestic economy now have more incomes to spend on imports. Alternatively, a recession would lead to a fall in incomes and imports, and also a fall in investment which conseqeuntly reduces exports volumes.

Trade restrictions (protectionism) such as tariffs, quotas, competitive devaluation, administrative complexities, export subsidy hinder free trade and they could reduce the volume of imports into a country. This is because trade restrictions would make imports to be more expensive; the aim might be that the government is trying to correct a current account deficit. However, the effectiveness of trade restrictions in  reducing import volumes and influening export is dependent on the price elasiticty of demand for imports and exports, the quality of a country's good or service, and how the country's rate of inflation compares with that of other countries.

4 0
3 years ago
Leslie Manufacturing reported the following:Revenue $450,000Beginning inventory of direct materials, January 1, 2015 20,000Purch
Bogdan [553]

Answer:

$109,000

Explanation:

The accounting equation for the cost of goods sold

COGS = opening finished good + purchases - Closing finished goods

In a manufacturing firm, purchases are also referred to as manufacturing costs.

For Leslie manufacturing:

beginning finished inventory =$40,000

costs of goods manufactured = $ 144,000

Ending finished inventory = $ 45,000

cost of  manufacturing for the period:

=$40,000 +$114,000- $45,000

=$109,000

5 0
3 years ago
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