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d1i1m1o1n [39]
2 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]2 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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Explanation:

Intentional infliction of emotional distress or IIED is a common law applied when an individual causes emotional distress to another person intentionally by behaving inappropriately. Intentional infliction of emotional distress is usually accompanied by physical injuries.

8 0
2 years ago
Ollver is the vice president of production at his company and has been managing the launch of nen software systems. He worked wi
luda_lava [24]

Answer:

Part 1. Marketing Department

Part 2. Sales Department

Explanation:

The Marketing department is the one which is responsible for creating product awareness among the target market segment customers. The marketing department assesses the best option to approach the customers present in the market segment. The option that will generate greater product awareness and is less costly to the organization is the best option that the market department tries to find to reach customers.

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6 0
3 years ago
A textbook publisher produces a textbook for $25 per book and sells a lot of 160 to the Campus Bookstore for $50 per unit. The b
Dmitry_Shevchenko [17]

Answer:

$4,000

Explanation:

The net profit of the publisher over the useful life of the 160-unit lot of textbooks is the difference between his selling price to the bookstore and the cost incurred multiplied by the number of unit.

Hence the net profit of the publisher

= 160( $50 - $25)

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8 0
3 years ago
the last recession changed the way many companies offer support to people and communties in need. many companies
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<span>The recession changed the way social assistance is provided by the means of reducing the specific financial capital allocated to these aspects, and instead encourage employees to take part in various social projects and programs that the company would be implementing.</span>
3 0
3 years ago
Last month, Duncan Incorporated’s Assembly Division had total manufacturing costs of $457,250, total conversion costs of $279,00
mars1129 [50]

Answer:

The answer is: Duncan's materials costs per unit was $1.50 ($6.10 - $4.60) less than Davis's materials costs per unit.

Explanation:

We must first calculate the materials costs for both companies:

  • Duncan's total costs was $457,250 minus conversion costs of $279,000 equals total materials costs of $178,250.
  • Davis's total costs was $721,056 minus conversion costs of $381,408 equals total materials costs of $339,648 .

Now we calculate the materials costs per unit produced:

  • Duncan's total materials costs $178,250 divided by 38,750 units equals $4.60 per unit.
  • Davis's total materials costs $339,648  divided by 55,680 units equals $6.10 per unit.

So Duncan's materials costs per unit was $1.50 ($6.10 - $4.60) less than Davis's materials costs per unit.

.

6 0
3 years ago
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