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gulaghasi [49]
3 years ago
5

Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8%. The date of the loan was September 20. Janet hoped to repa

y the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back how much interest on January 20?
Business
1 answer:
coldgirl [10]3 years ago
8 0

Answer:

The interest is $189.78

Explanation:

The computation of the interest on January 20 is shown below:

= Principal × interest rate × number of days ÷ total number of days in a year

= $7,000 × 8% × 122 days ÷ 360 days

= $7,000 × 8% × 0.338

= $189.78

The 122 days are calculated below:

September - 10 days

October - 31 days

November - 30 days

December - 31 days

January  - 20 days

Total    - 122 days

And we assume the 360 days in a year

You might be interested in
Job specifications can be defined as: a. planned sequences of jobs through which employees may advance within an organization. b
Alona [7]

Answer:

Option d would be the correct approach.

Explanation:

  • The organized database of the important tasks required in carrying out a task that has been extrapolated from such a job description and used in job classification and assessment and personnel policies as well as positioning.
  • This usually includes tasks, intent, obligations, nature including employment conditions of a position including the description of the position, as well as the identity or description of the individual the input data to.

Many examples do not apply to the subject being discussed. So option d is indeed the right one.

4 0
3 years ago
Ways in which government can regulate the setting up of businesses​
svetoff [14.1K]

Answer:

  1. Tax Code. For most small business owners, government regulation questions almost always begin with taxes. ...
  2. Employment and Labor Law. ...
  3. Antitrust Laws. ...
  4. Advertising. ...
  5. Email Marketing. ...
  6. Environmental Regulations. ...
  7. Privacy. ...
  8. Licensing and Permits.

Hope this is helpful to you

5 0
3 years ago
1. Demand curves faced by individual firms in a competitive market are thought to be perfectly elastic while the demand curve fa
eimsori [14]

Answer:

A). The demand curve looked by the flawlessly serious firms are splendidly versatile this is a result of the items selling in the ideal rivalry. The items are indistinguishable so no firm has power over the market cost, in the event that one firm builds the cost of the item the purchasers will quickly move to the result of different firms on the grounds that the items are indistinguishable. No firm has the motivator lessen the cost of their item. So the interest bend would be a level straight line corresponding to the X pivot, this demonstrates the interest is splendidly versatile. A cost increment will bring the amount requested to zero.  

B). The monopolists is just the single vendor in the market, so he can charge any value he needs, yet the amount requested will be relied on the value he charges. For instance in the event that he charges a significant expense the amount demanded will be very less and the other way around. So the monopolist is capable sell more at lower costs just, the descending inclining request bend shows the negative connection between the cost and the amount requested.  

C). In the ideal rivalry there is consummately flexible interest so the MR curve is likewise the interest curve of the firm. For the monopolist the MR curve lies underneath the interest curve, as the costs go bring down the MR decreases.

5 0
3 years ago
Solaris, Inc. has 2000 shares of 5%, $10 par value, cumulative preferred stock and 50000 shares of $1 par value common stock out
lubasha [3.4K]

The annual dividend on the preferred stock is $1000 in total.

<h3><u>What is an Annual dividend?</u></h3>
  • An annual dividend is a payment made by an insurance firm to its policyholders each year in the insurance sector. Annual dividends are most frequently given out in combination with plans that provide long-term disability insurance and permanent life insurance.
  • A payment made annually to an insurance policyholder, frequently under a long-term disability or permanent life insurance policy, is known as an annual dividend.
  • The insurance company's income, the success of investments, and the amount of money invested all affect the dividend amount.

Annual profits may be paid as cash, used to pay for further insurance, or added to premiums to lower future total payments.

The company has 2000 shares of 5% that is: (2000*5)/100 = 100

with a par value of $10, which becomes:

100*$10 = $1000.

Know more about Annual Dividend with the help of the given link:

brainly.com/question/15871366

#SPJ4

3 0
2 years ago
Wainright Co. has identified an investment project with the following cash flows. Year Cash Flow 1 $ 850 2 1,190 3 1,450 4 1,600
Mashutka [201]

Answer:

 $4,238.05  

Explanation:

The computation of the present value is shown below:

Years  Cash flows   Discount factor @7%         Present value

1           $850.00  0.9345794393              $794.39  

2          $1,190.00  0.8734387283              $1,039.39  

3           $1,450.00  0.8162978769              $1,183.63  

4           $1,600.00  0.762895212              $1,220.63  

Total present value                               $4,238.05  

8 0
3 years ago
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