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3 years ago

Secured debt means a lender gives you money in exchange for what?

1 answer:

Pie3 years ago

8 0

Secured debt means a lender gives you money in exchange for collateral. Collateral is what is given to someone to secure the repayment of a loan if for some reason the loan can not be repaid. For instance, you give someone your lawn mower and borrow $400, in the agreement it states that the lawn mower was given as collateral, in the event the $400 does not get paid back. If the money is paid back, the lawn mower is given back. If not, the lawn mower is kept.

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Rebecca would like to set up an account to supplement her parents' retirement income for the next 15 years.

vova2212 [387]

Answer:

Explanation:

a.)

This is an annuity type of question. Using a financial calculator, input the following to find the PV of the Ordinary annuity;

Total duration; N = 15*12 = 300

Monthly rate; I/Y = 7.2%/12 = 0.6%

One-time future cashflow; FV = 0

Recurring monthly payment; PMT = 150

then compute present value; CPT PV = $20,845.24

b.) This is an <em>Annuity Due </em>type of question since the recurring monthly payment occur at the beginning of the month.

Using a financial calculator, change the mode to "BEG" and input the following to find the PV of the annuity due;

Total duration; N = 15*12 = 300

Monthly rate; I/Y = 7.2%/12 = 0.6%

One-time future cashflow; FV = 0

Recurring monthly payment; PMT = 150

then compute present value; CPT PV = $20,970.31

5 0

3 years ago

Will Jones, Pharoah is a small CPA firm that focuses primarily on preparing tax returns for small businesses. The company pays a

Reika [66]

Answer:

Total cost for 316 returns $3,962

Total cost for 408 returns $4,974

Total cost for 524 returns $6,250

Explanation:

The total cost incurred by Pharoah with the Mega Tax software is given by the fixed cost of $486, referring to the annual fees, added to the cost per tax return of $11 multiplied by the volume of returns filed (n):

$C= \$486+(\$11*n)$

i. if 316 returns are filed? (n = 316)

$C= \$486+(\$11*316)\\C=\$3,962$

ii. If 408 returns are filed? (n = 408)

$C= \$486+(\$11*408)\\C=\$4,974$

iii. If 524 returns are filed? (n = 524)

$C= \$486+(\$11*524)\\C=\$6,250$

Total cost for 316 returns $3,962

Total cost for 408 returns $4,974

Total cost for 524 returns $6,250

6 0

3 years ago

The straight-line depreciation method and the double-declining-balance depreciation method: Multiple Choice Are acceptable for t

fiasKO [112]

Answer:

The straight-line depreciation method and the double-declining-balance depreciation method:

Produce the same total depreciation over an asset's useful life.

Explanation:

The straight-line and the double-declining-balance depreciation methods are two of the four depreciation methods allowed by US generally accepted accounting principles (GAAP). The other two methods are sum of the years' digit and units of production. The straight-line method is calculated by subtracting the salvage value from the asset's cost and either dividing the depreciable amount by the number of years or applying a fixed rate on the depreciable amount. For the double-declining-balance method, 100% is divided by the number of years of the asset's useful life and then multiplying by 2 to obtain the depreciation rate. Depreciation expense is then calculated on the declining balance until the salvage value is left. This is why they produce the same depreciation over the asset's useful life.

3 0

2 years ago

Business provided travel services worth R11800 to customers who settled the amount in cash

netineya [11]

That's a statement.

If its T/F, That is true <span />

3 0

3 years ago

Why is keeping enormous amounts of inventory a bad thing?

Monica [59]

Manufacturing more than there is demand means that the day when the demand stops, you will be left with a bunch of inventory you cant sell or get rid of

4 0

3 years ago