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aalyn [17]
3 years ago
10

American Express and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. I

f the APR is stated to be 18.00%, with interest paid monthly, what is the card's EFF%
Business
1 answer:
In-s [12.5K]3 years ago
5 0

Answer: 19.56%

Explanation:

Effective Rate of Return is the rate that takes into account, the compounding influence of interest rates in a given period.

It is calculated with the formula,

= ( 1 + r/n) ^ n - 1

Where

r = APR

n = no of compounding periods in a year

Interest is paid monthly so nnumber of periods will be 12.

Therefore,

EFF = ( 1 + 18%/12)¹² - 1

EFF = 19.56%

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DL variances
diamong [38]

Answer:

Logen Construction

a. Standard hours for July Production = 3,350

b. Actual hourly wage rate = $18.25

c. Direct labor variances:

i. Labor Rate Variance = $827.50 U

ii. Labor Efficiency Variance = $720 F

iii. Total Labor Variance = $107.50 U

Explanation:

a) Data and Calculations:

Direct labor hours per frame = 5 hours

Standard hourly labor rate = $18

Standard direct labor cost per frame = $90 ($18 * 5)

Number of frames produced in July = 670

Actual direct labor hours = 3,310

Actual wages earned by workers = $60,407.50

a. Standard hours for July Production = Actual production unit multiplied by standard hours per unit

= 3,350 (670 * 5) hours

b. Actual hourly wage rate = Actual direct labor cost divided by actual direct labor hours

= $18.25 ($60,407.50/3,310)

c. Direct labor variances:

i. Labor Rate Variance = Standard direct labor rate - Actual direct labor rate * Actual direct labor hours

= $827.50 U ($18 - $18.25) * 3,310

ii. Labor Efficiency Variance = Standard direct labor hours - Actual direct labor hours * Standard Direct Labor Rate

= $720 F (3,350 - 3,310) * $18

iii. Total Labor Variance = Standard Direct Labor Cost - Actual Direct Labor Cost

= $107.50 U ($60,300 - $60,407.50)

3 0
3 years ago
What is the difference between demand and quantity demanded of a product, say milk?
Cerrena [4.2K]
Demand is how much that thing is needed by people and quantity is how much of one thing they have. Hope that makes sense.

Example: The demand of milk has risen, so has the price.
Example: Having five jugs of milk is a large quantity.
4 0
3 years ago
Suppose Sepracor, Inc. called its convertible debt in 2020. Assume the following related to the transaction. The 10%, $10,000,00
tatuchka [14]

Answer:

Explanation:

To record the conversion:

Dr Debt conversion expense 68,000

Dr Bonds payable 10,000,000

Cr Discount on bonds 51,000

Cr Common stock 1,000,000

Cr Paid in capital in excess of common stock 8,949,000

Cr Cash 68,000

8 0
3 years ago
"A potential client is 81 years old and has asked his representative for recommendations of speculative "Dot Com" stocks. The cu
torisob [31]

Answer:

allocate a portion of the customer's portfolio to "Dot Com" stocks that will not reduce the customer's retirement income below the amount needed for comfortable living

Explanation:

Given that the potential client is concerned that his purchasing power is decreasing and wishes to allocate an increased portion of his portfolio to aggressive growth stocks.

Hence, the best recommendation is to "allocate a portion of his portfolio to "Dot Com" stocks that will not reduce his retirement income below the amount needed for comfortable living"

8 0
3 years ago
Suppose the economy is experiencing an output gap of –3%. a. Select each response that indicates how monetary policy or fiscal p
igor_vitrenko [27]

Answer:

Suppose the economy is experiencing an output gap of –3%

a. Monetary policy or fiscal policy can be used to raise actual output toward potential output when:

The government can increase its spending or reduce taxes, which will shift the IS curve to the right and increase GDP.

The Fed can reduce the interest rate, which will shift the MP curve down and increase GDP.

b. The policies identified in part a,

can be used together to raise actual output toward potential output.

Explanation:

Investment-Savings (IS) curve shows all the levels of interest rates and output (GDP) at which an economy's total desired investment (I) equals its total desired saving (S).  This equilibrium can be achieved at a level of interest rate that maximizes output.  The IS curve slopes downward, and to the right because at a lower interest rate, investment is higher, which produces more total output (GDP) for the economy.

7 0
3 years ago
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