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Leona [35]
3 years ago
12

A 60-day, 9% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is Select one

:
a. $10,000
b. $10,150
c. $10,900
d. $9,100
Business
1 answer:
Andreas93 [3]3 years ago
6 0
I would say $10,150. The 10,000 principal x 1.09 = 10,900 but this would be for 9% for one year whereas the term is 60 days or approx. 2 months or 1/6 of a year so the increase would be 900/6 = 150 so the total value would be $10,150.
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What are “guns or butter” decisions?
r-ruslan [8.4K]

"Guns or Butter" referrs to how you make decisions (i believe) guns you know its right or it is butter you are guessing and not sure if it is or not.

7 0
3 years ago
If the required rate of return on a bond (rd) is greater than its coupon interest rate and will remain above that rate, then the
LenKa [72]

Answer:

True

Explanation:

until the bond matures the market value of the bond will always be below its par value. Especially if the required rate of return on a bond (rd) is greater than its coupon interest rate.

Hence the statement is very true.

5 0
3 years ago
Which controls can be used to prevent or detect personal purchases on company credit cards?
Anna007 [38]

Answer:

Few controls can be used to prevent or detect personal purchases on company's credit cards.

Explanation:

Following controls can be taken to prevent or detect personal purchases on company's credit cards:

1. One should make sure that the company policy clearly forbids all purchases that are personal with company funds.

2. Same employee should not be allowed to originate purchases and then approve them too.

3. Controls can be installed to know if there are multiple purchases under employees approval limits.

4. Also, there should be a maximum limit of purchase for each employee.

5. Any invoice which is not related to company should be checked regularly.

6 0
3 years ago
You need to have $35,000 for a down payment on a house 5 in years. If you can earn an annual interest rate of 3.7 percent, how m
quester [9]

Answer:

$29,185.98

Explanation:

Compounding and discounting are the methods used to determine the relationship between present and future value.

Compounding is the method used to determine the future worth of an amount today while discounting is the method used to determine the present value of a future amount.

Both are related by

Fv = Pv(1 + r)^n

where Fv = future amount

Pv = present value

r = rate

n = time

Therefore,

35000 = Pv(1 +0.037)^5

Pv = 35000(1 +0.037)^-5

Pv = $29,185.98

You would have to deposit $29,185.98 to be able to make the down payment of $35,000 on a house in 2 years

6 0
3 years ago
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been o
kvasek [131]

Answer:

d. $8,300.

Explanation:

             Direct Materials

Beginning     8,200

Purchases   *16,800

Requisitions             18,400

Ending          6,600

We solve for purchases:

6,600 + 18,400 - 8,200 = 16,800

WIP Inventory

Beginning                7,700

Materials                18,400

Labor                     13,700

Overhead               8,200

Transferred Out    <u>             39,700*</u>

Ending                    8,300

The transferred-out from WIP inventory is the transferred-in for Finished Goods

8 0
3 years ago
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