All categories

3 years ago

10. Describe the difference between tiered rates and variable rates?

Business

1 answer:

ludmilkaskok [199]3 years ago

7 0

Answer:

A variable interest rate (sometimes called an “adjustable” or a “floating” rate) is an interest rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rate or index that changes periodically.

A tiered-rate account is a checking or savings account that pays interest at increasingly higher rates as the account balance increases. Each tier consists of a range of account balances and interest rates earned by the customer if his or her balance falls within that range

You might be interested in

Crane purchases equipment by signing a note payable with the equipment dealer for $10,000. The accounts affected for Crane are _

maxonik [38]

Answer:

Equipment and notes payable

Explanation:

Since the equipment is purchased by signing the note payable which affected the two accounts i.e equipment and the note payable. In this, the cash transaction is not involved, so cash should not be considered

The journal entry would be

Equipment A/c Dr $10,000

To Notes payable $10,000

(Being the equipment is purchased by signing a note payable)

7 0

3 years ago

The promotional mix includes advertising, personal selling, sales promotion, __________, and direct marketing. A. public relatio

krok68 [10]

Answer: option "A" is correct

Explanation:

It's an official context for other options.

6 0

3 years ago

Why would an entrepreneur be best suited to opening a new business, rather than buying an existing business or franchise?

Mariulka [41]

Answer:

For example, it's really easy to finance while buying in an existing business while starting a new one. In Addition tons of bankers and investors all around the world would feel more comfortable dealing with a business that already has had a proven track record.

Explanation:

3 0

3 years ago

Chez Fred Bakery estimates the allowance for uncollectible accounts at 1% of the ending balance of accounts receivable. During 2

steposvetlana [31]

Answer:

See below

Explanation:

Per the above information,

Ending account receivable balance = Beginning account receivable + Credit sales - Collections - Written off amount

$93,000 = Beginning account receivable + $108,000 - $142,000 - $130

$93,000 = Beginning accounts receivable - $34,130

Beginning accounts receivable = $93,000 + $34,130 = $127,130

So, the beginning account receivable would be;

The ending accounts receivable is computed as;

= $930 ÷ 1%

= $93,000

7 0

3 years ago

Suppose Nippon Technology had the following results related to cash flows for 2020: Net Income of $8,400,000 Adjustments from Op

Flauer [41]

Answer:

$9,800,000

Explanation:

Statement of Cash Flows (Indirect Method)

Particulars Amount

Net income $8,400,000

Add: Adjustment for operating activities -$1,300,000

Net cash flow from Operating Activities (I) $7,100,000

Add: Net Cash Flow from Investing Activities (II) -$1,300,000

Add: Net Cash Flow from Financing Activities (III) $4,000,000

Net Cash Flow (I+II+III) $9,800,000

4 0

3 years ago