1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Pachacha [2.7K]
3 years ago
6

On July 1, Lee Co. sold goods in exchange for a $200,000 8-month noninterest-bearing note receivable. At the time of the sale, t

he note’s market rate of interest was 12%. What amount did Lee receive when the note was discounted at a bank at 10% on September 1?
Business
1 answer:
evablogger [386]3 years ago
5 0

Answer:

$190,000

Explanation:

Given:

Loan amount = $20000

Month Remain = [ 8 month  - 2 month ( July - august) non interest bearing] = 6 month

Discount rate = 10%

Calculation of value discounted = Loan amount x Discount Rate x month remain

= $200,000 x 10% x 6/12

= Discounted Amount = $10000

After discount rate = loan amount - discounted amount

= $200,000 - $10,000

After Discount Rate= $190,000

You might be interested in
many credit card companies will let you determine your interest rate when they approve for your card true or false
SashulF [63]

The answer to this is false because all they want is for you to use their card and then it will hurt you credit score because then you will have to pay interest rates.

So it is false

6 0
3 years ago
Read 2 more answers
3. How do the ultra rich use charitable giving to make sure they pay less taxes?
aliina [53]
Because when you donate to a charity it will not be taxed so you can put your money somewhere without it being taxed with it going somewhere good
3 0
3 years ago
David paid $975,000 for two beachfront lots in coastal South Carolina, with the intention of building residential homes on each.
Gnoma [55]

Answer:

The correct answer would be, Yes South Carolina would be compensating David as his property is now economically valueless.  

Explanation:  

Under the taking clause, 'The Beachfront Management Act was properly and validly designed to preserve South Carolina's beaches', which means that no one will be allowed to do any development project near beaches in order to save the beaches.  

Though it is already written in the Act, The Beachfront Management Act barred any further development on the coasts of Carolina, which makes the purchased property of David as economically valuless, so South Carolina would be compensating him as the law has passed and they won't allow further development but they need to compensate the people who purchased the property on the beaches for the purpose of future business.

7 0
3 years ago
Which of the following is NOT a strong warning sign of potentially violent behavior? A. Constantly complaining about the job B.
sweet [91]
 B. Frequently returning late from lunch break. 
4 0
3 years ago
Read 2 more answers
You purchased shares of a mutual fund at a price of $20 per share at the beginning of the year and paid a front-end load of 6.0%
Feliz [49]

Answer:

1.99%

Explanation:

Calculation for your return if you sold the fund at the end of the year

Return={[$20 * (100%-6%) * (1.10 - .015)] -$20}/$20

Return={[$20 * .94 * (1.10 - .015)] -$20}/$20

Return = 1.99%

Therefore your return if you sold the fund at the end of the year would be 1.99%

3 0
3 years ago
Other questions:
  • Rubio recently invested $20,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $15,000. In addi
    5·1 answer
  • Here are data on two stocks, both of which have discount rates of 8%: Stock A Stock B Return on equity 8 % 5 % Earnings per shar
    6·1 answer
  • Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $
    12·1 answer
  • School teachers, counselors, and job placement centers can help you _____. a. place a classified job advertisement b. identify j
    13·2 answers
  • In terms of the increasing complexity in media buying and selling, _____ often employ(s) communications vehicles outside traditi
    15·1 answer
  • The makers of Whirlpool washers and other electrical appliance manufacturers need to be concerned about the kind and availabilit
    7·1 answer
  • Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: 1. Acqui
    5·1 answer
  • HELP HELP HELP 10 POINTS
    14·1 answer
  • What is the type of occupation of densist​
    11·1 answer
  • those making more than $200,000 are the primary beneficiaries of the home mortgage interest deduction.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!