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maxonik [38]
3 years ago
5

Sal and Jen went to the store together, and each bought the same car stereo. Sal used a card to make the purchase, and the full

amount was immediately withdrawn from his bank account. Jen used a card to make the purchase, and she received a bill within 15 days of the purchase. She paid $21.30 for the next 18 months until the bill was paid in full. The full payment included $58.60 in interest. Which statement describes Sal’s purchase?
Business
2 answers:
Dvinal [7]3 years ago
9 0
Given that <span>Sal and Jen went to the store together, and each bought the same car stereo. Sal used a card to make the purchase, and the full amount was immediately withdrawn from his bank account. Jen used a card to make the purchase, and she received a bill within 15 days of the purchase. She paid $21.30 for the next 18 months until the bill was paid in full. The full payment included $58.60 in interest.

The statement that describes Sal’s purchase is "</span><span>Sal used a debit card and paid a total of $324.80 for the stereo".</span>
Kamila [148]3 years ago
6 0

Answer:

Given that Sal and Jen went to the store together, and each bought the same car stereo. Sal used a card to make the purchase, and the full amount was immediately withdrawn from his bank account. Jen used a card to make the purchase, and she received a bill within 15 days of the purchase. She paid $21.30 for the next 18 months until the bill was paid in full. The full payment included $58.60 in interest.

The statement that describes Sal’s purchase is "Sal used a debit card and paid a total of $324.80 for the stereo".

Explanation:

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The effective interest rate on a discounted note is
.. 1/(1-r) = 1/0.9 ≈ 11.11%

_____
The amount and time have nothing to do with it for simple interest.
5 0
3 years ago
Corporate stock can be divided into categories called ________, which can be further divided into ________.
Sophie [7]

Answer:

c. classes, series.

Explanation:

Corporate stock refers to the shares issued to the shareholders through which the company gets its funds for the business.

These shares are of two classes mainly:

Equity and Preference

These are further divided into series like:

Equity = Fully paid, 50% paid

Preference = 5% Preference or 10% preference capital or any other rate.

Further it includes, the reserve and surplus also.

4 0
3 years ago
Interest rate​ (with changing​ years). Keiko is looking at the following investment choices and wants to know what annual rate o
olga2289 [7]

Answer:

7.38%

8.23%

7.01%

9.17%

Explanation:

Rate of return = (future value / amount invested)^(1/n) - 1

n = number of years

a. (788.17 / 360)^(1/11) - 1 = 7.38%

b. (11.499.87 / 3000) ^(1/17) - 1 = 8.23

c. (140,000 / 31,542.31)^(1/22) - 1 = 7.01

d. (1,100,000 / 32895.12)^(1/40) - 1 = 9.17

7 0
3 years ago
A share of stock is now selling for $155. It will pay a dividend of $6 per share at the end of the year. Its beta is 1. What mus
Hoochie [10]

Answer:

$180

Explanation:

Expected return E(r) = \frac{(D1+ P1 -P0)}{P0}

D1= Next year's dividend

P1 = Next year's price

P0 = Current price

Since the beta is 1, it means this stock's return = market return = 20%

E(r) = \frac{(6+P1-155)}{155}

0.20 = \frac{P1-149}{155}

Multiply both sides by 155

31 = P1-149

Add 149 on both side s to solve for P1;

31+149 = P1

180 = P1

Therefore, the stock will sell at $180

3 0
3 years ago
Using the financial statements for HH Company below: Sales 1,607,500 Cost of goods sold 1,392,500 Selling, general and administr
LiRa [457]

Answer:

D

Explanation:

ys Inventory turnover 6.7 Fixed asset turnover 12.1 Total assets turnover 3.00 Return on sales 1.20% Return on assets 3.60% Return on equity 9.00% Debt ratio 55% 2. Discuss HH's strengths and weaknesses as revealed by your analysis. 3. Suppose HH doubles its sales as well as its inventories, accounts receivable, and common equity during the year. How would that information affect the validity of your ratio analysis

4 0
3 years ago
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