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jarptica [38.1K]
3 years ago
14

Stonehall Inc. recently borrowed $685,000 from its bank at a simple interest rate of 10 percent. The loan is for eight months an

d, according to the loan agreement, the interest should be added to the amount borrowed and the total amount will be repaid in monthly installments. The loan's annual percentage rate (APR) is:________
a. 20.00%
b.18.25%
c. 15.05%
d. 13.33%
Business
1 answer:
jeyben [28]3 years ago
5 0

Answer:

a. 20.00%  

Explanation:

Monthly loan payment

= (685000*10%*8/12 + 685000)/8

= $91,333.33

PV = -685000

Nper = 8

Using RATE function

= RATE(8,91333.33,-685000,0)*12

= 20%

Therefore, The loan's annual percentage rate (APR) is 20%.

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Apply for it and be a lucky man to live

6 0
3 years ago
In a shoe manufacturing plant, all shoes undergo the same operations in the same sequence. the shoes flow from one workstation t
andre [41]
The answer is product layout. In manufacturing engineering, this talk about to a manufacture system where the work locations and apparatus are situated beside the line of production, as with assemblage lines. Generally, work units are stirred along a line (not essentially a geometric line, but a set of consistent work stations) by a conveyor.
6 0
3 years ago
XYZ Company makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost P
Liono4ka [1.6K]

Answer:

labour rate variance   = $616 unfavorable

Explanation:

The rate variance would be the difference between the standard labour cost of the 500 actual hours worked   and the actual labour cost.

This derived below:

                                                                             $

Standard labor cost ($23 per × 500)  =        11500

Actual labour cost                                            <u>(12,116</u>)

labour rate variance                                   <u> </u>   <u> $616</u> unfavorable

4 0
3 years ago
MC Qu. 22 Selected information from the accounting... Selected information from the accounting records of Dunn's Auto Dealers is
dlinn [17]

Answer:

($23,000)

Explanation:

Cash flow from Investing Activities

Purchase of furniture                                       ($ 8,000)

Proceeds from sale of Equipment                    $5,000

Investment in other companies                     ($20,000)

Net Cash used by  Investing Activities          ($23,000)

Notes :

Cash flow from Investing activities section of the cash flows statement shows the cash movement in acquisition of assets and sale of assets.

4 0
3 years ago
Last year a country’s real GDP grew by 4%, it’s inflation rate was 2.5%, and it’s government budget deficit was about $250 billi
Arturiano [62]

Answer:

d. 3.85 trillion

Explanation:

Step 1: Given data

GDP = GDP grew by = 4% = 0.04

R = inflation rate was = 2.5% = 0.025

D = government budget deficit was = $250 billion

Step 2: Formula

X = debt at the start of last year

X = D / (GDP + R)

Step 3: Computation

X = 250 billion / (0.04 + 0.025)

X = 250,000,000,000 / 0.065

X = 3,846,153,846,153.85

Step 4: Convert to trillion

X = 3,846,153,846,153.85 / 1,000,000,000,000

X = 3.85 trillion

The correct option is d. 3.85 trillion

Hope this helps!

5 0
3 years ago
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