Normally, a person with a high level of education makes more money than a person without an education.

ames Sprater of Grand Junction, Colorado, has been shopping for a loan to buy a used car. He wants to borrow $18,000 for four or

Ghella [55]

Answer:

James' credit union loan rate is 8.88% APR, the local bank loan rate is 9.34% APR.

Explanation:

Hi, since in both cases payments would be done in a monthly basis, we have to assume that the rate that we are looking for is APR (compounded monthly), and since there is no additional information in regards that 9.25% rate, we can assume that this is effective annually, so let´s convert this effective monthly rate into APR (compounded monthly)

First, we have to convert it into an effective monthly rate, that is:

$r(month)=((1+r(annual))^{\frac{1}{12} } -1)$

$r(month)=((1+0.0925)^{\frac{1}{12} } -1)=0.00739963$

Then we multiply by 12 and we get 0,088796 , which is 8.88% APR (compounded monthly)

This way James can compare both credits. The cheaper loan is from the credit union.

4 0

3 years ago

Able, Baker, and Charlie co-own property. Charlie dies, leaving behind a will that transfers his one-third interest in the prope

VMariaS [17]

Answer:

Joint ownership

Explanation:

In a joint ownership, when a partner dies, his interest is passed on to the surviving partners.

This case scenario is a joint ownership

3 0

3 years ago

Someone add a random question I need it I’ll give brainless it’s just the questions are toooo hard pls

Brut [27]

Answer:

ok go too my profile

Explanation:

5 0

3 years ago

michael was on the abc accounting firm's audit team for the rasmussen corporation audit. rasmussen's officers were so impressed

nirvana33 [79]

In order to preserve independence, Michael must "Remove himself from the engagement as he considers the offer." (Option B). It is to be noted that this is an internal control problem.

<h3>What is Independence in this case?</h3>

The absence of situations that jeopardize the internal audit activity's capacity to carry out internal audit tasks objectively is called Independence.

Practically, independence is achieved by ensuring that the internal audit activity has no management control for any of the organization's non-audit functions that are subject to internal audit assessments, and by distancing the internal audit activity's management from the functional oversight of the organization's senior management.

Learn more about internal control:
brainly.com/question/26398073
#SPJ1

Full Question:

Michael was on the ABC Accounting Firm's audit team for the Rasmussen Corporation audit. Rasmussen's officers were so impressed with Michael that they offered him a job as Director of Internal Audit at Rasmussen. What should Michael do in order to preserve independence?

A) Tell his superiors as soon as he has decided whether or not to accept the offer.

B) Remove himself from the engagement as he considers the offer.

C) Pray for divine guidance.

D) If he decides to reject the offer, remove himself permanently from the engagement.

6 0

2 years ago

On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $45,000. Alan made the appropriate year-end

shepuryov [24]

Answer:

Debit Notes Payable $45,000; debit Interest Payable $750; debit Interest Expense $750; credit Cash $46,500

Explanation:

The journal entry is given below:

Notes payable $45,000

Interest payable ($45,000 × 10% × 60 ÷ 360) $750

Interest expense ($45,000 × 10% × 60 ÷ 360) $750

To Cash $46,500

(Being payment of notes payable is recorded)

here note payable, interest payable, interest expense is debited as it increased the expenses and decreased the liabilities while on the other hand the cash is credited as it decreased the assets

8 0

3 years ago