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Sergeu [11.5K]
3 years ago
9

What is the change due if a $5 bill is tendered for a charge of $4.21? The change in dollars and cents would be $ a0.

Business
1 answer:
Yuri [45]3 years ago
8 0

Answer: $0.79.

Explanation:

Given that,

Tendered bill = $5

Bill charged = $4.21

Therefore,

The change due is calculated by subtracting bill charged from tendered bill.

Change due = Tendered bill - Bill charged

                     = $5 - $4.21

                     = $0.79

Hence, change in dollars would be $0.79.

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How much would you need to deposit in an account now, such that in 5 years your account will have increased to $8,000, assuming
VladimirAG [237]

Answer:

$6268.21

Explanation:

Future value = $8000

Interest(r) = 5%

Period (n)= 5 years

How much need to deposit?

Find the Present value:

PV = FV / (1+r)n

= 8000 / (1.05)5

= 8000 / 1.27628156

Present Value / Amount need to deposi today = $6268.21 approx

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1 year ago
Advance, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 11 years to maturity that is
Usimov [2.4K]

Answer:

a. 3.56%

b. 2.31%

Explanation:

In this question, we use the Rate formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Present value = $1,040

Assuming figure - Future value or Face value = $1,000  

PMT = 1,000 × 4% ÷ 2 = $20

NPER = 11 years × 2 = 22 years

The formula is shown below:

= Rate(NPER;PMT;-PV;FV;type)

The present value come in negative

So, after solving this,

1. The pretax cost of debt is = 2 × 1.78% = 3.56%

2. And, the after tax cost of debt would be

= Pretax cost of debt × ( 1 - tax rate)

= 3.56% × ( 1 - 0.35)

= 2.31%

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3 years ago
Subscribe to my channel :))<br><br>It would mean so much<br><br>- avastories​
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Answer:

Hey mate....

subscribed already.....thx for points

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3 years ago
Von hayek's kayaks can borrow $12,500 for 60 days at a cost of $220 interest. what is the effective rate of interest?
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