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musickatia [10]
3 years ago
12

Your credit card company quotes you an interest rate of 21.9 percent based on annual compounding. Interest is billed monthly. Wh

at is the actual rate of interest you are paying
Business
1 answer:
alexgriva [62]3 years ago
6 0

Answer:24.24%

Explanation:

Effective Annual Rate = (1 + (nominal interest rate / number of compounding periods)) ^ (number of compounding periods) – 1

EAR = [1 + (.219 / 12)]12 - 1 = .2424, or 24.24 %

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Answer:Absolutely! the MemberPress Courses Add-on is built right in and is included as part of MemberPress. No separate download is required. And the 100% visual builder is super simple to use

https://memberpress.com/myohoguy/home

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2 years ago
Read 2 more answers
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. How would Fl
Llana [10]

Answer:                                                                      

C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000

Explanation:

Assuming for now that credit customer will avail the cash discount, the following journal entry shall be made on November 10 by Flores mills in respect of credit sales made by it.

                                                                   Debit                 Credit

Accounts receivable                                  $7,840                          

Cash discount                                             $160

(8000*2%)

Sales                                                                                      $8,000                                                                        

Based on the above discussion, the answer shall C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000

6 0
3 years ago
alvin Tucker is in the process of launching an educational services firm. He plans to incorporate the firm. Because the firm wil
Sever21 [200]

Answer:

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<em>alvin Tucker is in the process of launching an educational services firm. He plans to incorporate the firm. Because the firm will be incorporated, Calvin is legally required to have a </em><em><u>board of </u></em><em><u>directors</u></em>

________________________________

<em>The </em><em>role </em><em>of </em><em>Directors</em><em> </em><em>on </em><em>a </em><em>board </em>

<em>representative</em><em> </em><em>of</em><em> the</em><em> </em><em>company's</em><em> </em><em>share</em><em>h</em><em>older </em><em>to </em><em>overs</em><em>ee </em><em>the </em><em>management</em><em> </em><em>of </em><em>the </em><em>company</em><em>.</em>

<em>_</em><em>_</em><em>_</em><em>_</em><em>____</em><em>________</em><em>________</em><em>________</em>

5 0
2 years ago
Store supplies still available at fiscal year-end amount to $1,900. Expired insurance, an administrative expense, for the fiscal
DaniilM [7]

Answer:

Current Ratio = 1.67:1

Acid Test Ratio = 0.1:1

Gross Profit Margin = 66%

Explanation:

Cash.......1000

Merchandise inventory...12,500

Store supplies....5800

Prepaid Insurance...2400

Accounts Payable...................10,000

Sales..............................111950

Cost of Goods Sold....38,400

Store supplies still available at fiscal year-end amount to $1,900. Expired insurance, an administrative expense, for the fiscal year is $1,650. Depreciation expense on store equipment, a selling expense, is $1,600 for the fiscal year. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,000 of inventory is still available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2018.

Therefore Balance Store supplies = 5800-1900

Prepaid Insurance = 2400-1650

Balance Inventory = 11,000

Current Ratio = Current Assets/ Current liabilities

Current Ratio = (1000 cash + 11,000 inventory + 3,900 Store supplies + 750 prepaid insurance) / 10,000 Accounts payable = 16650/10000 = 1.67

Current Ratio = 1.67:1

Acid test Ratio = Current Asset - inventory / Current Liabilities

(16,650 -  11,000 inventory - 3,900 Store supplies - 750 Prepaid Insurance) /10,000 = 0.1

Acid Test Ratio = 0.1:1

Gross Profit Margin = Gross Profit / Sales x 100

Gross Profit = Sales - Cost of Goods Sold = 111,950 - 38400 = 73550

Therefore Gross profit Margin = 73550/111950 x 100 = 66%

Gross Profit Margin = 66%

3 0
3 years ago
An increase in investment shifts the ae curve upward by an amount equal to the​ ______, and shifts the ad curve rightward by an
kogti [31]
<span>An increase in investment shifts the AE curve upward by an amount equal to the​ change in investment, and shifts the AD curve rightward by an amount equal to the​ change in the investment by the multiplier.
The AE curve stands for the aggregate expenditure which measures expenditures on consumption. The AD curve stands for the aggregate demand curve which measures the demand levels when prices change for a good or service in an economy. 

</span>
5 0
3 years ago
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