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Blababa [14]
3 years ago
8

What is the effective annual rate​ (EAR) of a mortgage that is advertised at 8.5​% ​(APR) over the next twenty years and paid wi

th weekly ​payments? What is the effective annual rate​ (EAR) of the mortgage at 8.5​% APR with weekly ​payments? nothing​% ​(Round to two decimal​ places.)
Business
1 answer:
svp [43]3 years ago
7 0

Answer:

1. What is the effective annual rate​ (EAR) of a mortgage that is advertised at 8.5​% ​(APR) over the next twenty years and paid with weekly ​payments?

8.87%

2. What is the effective annual rate​ (EAR) of the mortgage at 8.5​% APR with weekly ​payments? nothing​% ​(Round to two decimal​ places.)

8.86%

Explanation:

1.

APR = 8.5%

Weekly Payment

Number of years = 20

m = 52 x 20 = 1040

EAR = ( 1 + ( 0.085 / 1040 )^1040)-1

EAR = 0.0887

EAR = 8.87%

2.

APR = 8.5%

Weekly Payment

Number of years = 1

m = 52 x 1 = 52

EAR = ( 1 + ( 0.085 / 52 )^52 ) - 1

EAR = 0.0886

EAR = 8.86%

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Lotoya Davis Corporation has 10 million shares o common stock issued and outstanding. On June 1, the board of directors voted an
Viktor [21]

Answer:

June 1st:

Retained Earnings (Dr.)                 $8,000,000

Dividends Payable (Cr.)                $8,000,000

June 30th

Dividends Payable (Dr.)               $8,000,000

Cash (Cr.)                                      $8,000,000

These entries will remain same even in the case of liquidating dividend.

Explanation:

On June 1st the dividend is declared so the journal entry will be

Retained Earnings (Dr.)                 $8,000,000

Dividends Payable (Cr.)                $8,000,000

There will be no journal entry on June 14th.

On June 30th the dividend is paid:

Dividends Payable (Dr.)               $8,000,000

Cash (Cr.)                                      $8,000,000

The entry would not have differed if it was a liquidating dividend.

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3 years ago
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2 years ago
Digital enterprise, inc., promises to pay its employees a year-end bonus "if profits continue to be high and management agrees a
Ganezh [65]

Year end bonuses could be paid only if the business is doing good. The profit margin has to be high in order to give bonuses.

4 0
3 years ago
Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2017, he was issued a company car with a fair marke
nlexa [21]

Answer:

Check the explanation

Explanation:

As per publication 15-b Of employers tax guide fringe benefits provides you how to use lease value rules and when to use , The following question is answered according to it

Employee Name : Malcolm Figueroa      

Annual Lease Method :      

1 Fair market value of vehicle 35000    

2 Annual lease value : 9250    

3 Prorated Annual lease percentage 3600 / 22000 = 16.3636%

4 Prorated Annual lease Value: Annual lease value * Prorated Annual lease percentage = $

9250 * 16.3636% = 1513.633$

5 iF FUEL PROVIDED BY EMPLOYER ENTER MILE 3600 * 5.5cents = 198$

Total fuel charges    = 198$

6 Total personal Use Taxable income 1513.633 + 198 = $1711.633

Kindly check the attached image below to see the well arranged accounting entry above.

First we will find the annual lease value from table given by using fmv of automobile i.e for 35000 its 9250

Now we will Multiple  annual lease value by % of personal driven by employee

which is calculated by 3600/22000*100= 16.3636%

9250*16.3636%= 1513.633

So this the personal usage vehicle which will be added = $1513.633

And we will add the fuel cost to this amount which is = 3600*5.5cents= $198

total personal use taxable = $1711.633

3 0
3 years ago
Read 2 more answers
Ted is glad his company finally converted to an RFID system. Now, he no longer needs to go through all the new goods to make sur
DedPeter [7]

Answer: (A) Checking

Explanation:

According to the question, ted finally convert his company into the RFID system as by using this radio frequency identification system it automatically identifying the various types goods by using the unique code. Also by scanning the given bar-code we can easily identify the different categories of the products.

Therefore, ted is responsible for checking in his own company. Various types of organization or companies using the supply chain process.

Therefore, Option (A) is correct.

3 0
3 years ago
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