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d1i1m1o1n [39]
3 years ago
12

Another bank is also offering favorable terms, so Raphael decides to take a loan of $15,000 from this bank. He signs the loan co

ntract at 13.00% compounded daily for three months. Based on a 365-day year, what is the total amount that Raphael owes the bank at the end of the loan’s term? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.)
Business
1 answer:
Colt1911 [192]3 years ago
5 0

Answer:

$15,495.41

Explanation:

Given that,

Loan amount = $15,000

Annual Interest rate = 13%

Daily interest rate = Annual Interest rate ÷ 365

                              = 13% ÷ 365

                              = 0.035616%

Period of loan = 3 months

Number of days:

= 365 × (3 ÷ 12)

= 91.25 days

Total amount that Raphael owes the bank at the end of the loan’s term:

= P(1 + r)^n

= 15,000 × (1 + 0.035616%)^91.25

= 15,000 × (1.00035616)^91.25

= 15,000 × 1.0330275

= $15,495.41

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Answer:

Total cost= $350,400

Explanation:

Giving the following information:

For Gundy Company, units to be produced are 5,280 in quarter 1 and 6,400 in quarter 2. It takes 2.0 hours to make a finished unit, and the expected hourly wage rate is $15 per hour.

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3 years ago
Assume the perpetual inventory; system is used unless stated otherwise. Round all numbers to the nearest whole dollar unless sta
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Answer: Check attachment

Explanation:

In the attachment, note that:

On July 14:

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Check attachment for further explanation.

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3 years ago
Main memory divided into a number of static partitions at system generation time is _______ .
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The main memory divided into a number of static partitions at system generation time is fixed partitioning.

<h3>What is the main memory?</h3>

Memory is a computing term for a system or device that stores data for immediate use in a computer, computer hardware, or other digital electronic devices. The terms main memory and primary storage are frequently used interchangeably. The store is a dated word for memory.

The principal internal storage area in a computer, sometimes known as RAM, is the main memory (random access memory). Specs like 4GB, 8GB, 12GB, and 16GB usually invariably relate to the RAM's storage capacity. On the other hand, a computer's disk or solid-state storage capabilities are commonly 128GB or 256GB or greater.

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b. Financing activities.

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