1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Naily [24]
3 years ago
9

Assume that the interest rate is 4% compounded monthly. Roy buys 100 shares of Moogle company, at the market price of $30 per sh

are. For this he borrows the money from the bank. Assume that after six months he sells the shares for a price of $S per share. Find the minimal S for which Roy has enough money to fully pay back his loan to the bank. (Round to the nearest cents)
Business
1 answer:
Inessa [10]3 years ago
8 0

Answer:

$30.61

Explanation:

Data provided in the question:

Annual Interest rate = 4% = 0.04

Since compounded monthly

Therefore,

Monthly interest rate, r = 0.04 ÷ 12 = 0.0033

Price per share = $30

Number of shares purchased = 100

Total value of shares purchased = $30 × 100

= $3,000

Therefore,

the amount borrowed = Total value of shares purchased

= $3,000

Amount to be paid after 6 months = Principle × ( 1 + r )ⁿ

= $3,000 × ( 1 + 0.0033  )⁶

= $3,060.50

Therefore,

The minimal value of S

= Amount to be paid after 6 months ÷ Number of shares

= $3,060.50 ÷ 100

= $30.605 ≈ $30.61

You might be interested in
NeXL
g100num [7]

Answer:

tweedle dee and tweedle

Explanation:

freddy and bart

3 0
3 years ago
Which statement concerning process cost accounting is correct?  
GalinKa [24]
I think the answer is C. Individual work in the process accounts are maintained for each production department of manufacturing process. 
6 0
3 years ago
On November 1, Eli Co. received a $6,000, 60-day, 6% note from a customer as payment on his $6,000 account. Eli's journal entry
Anna007 [38]

Answer:

                                 Dr.          Cr.

Note Receivable   $6,000

Account Receivable            $6,000

Explanation:

Note is received against a payment of sale mad on credit. A new receivable will be built with the name of Note receivable, so this account will be debited.   To deduct the value from the account receivable we will credit the account receivable account due to its debit nature. Later on the interest will be accrued and added in this balance.

4 0
3 years ago
All of the brands that Miguel can easily call to mind for laundry detergents, whether he would consider buying them or not, comp
AveGali [126]

The ability of Miguel to recall those brands of detergent is known as Retrieval set in marketing.

In marketing, the term "Retrieval set refers to series of brands that a consumer can recall from their memory whether they are making purchase or not".

Here, Miguel can easily call to his mind different brand of laundry detergents whether he is considering buying them or not.

The ability to recall those brands is known as Retrieval set in marketing.

Therefore, the Option A is correct.

Read more about this here

<em>brainly.com/question/8570566</em>

6 0
2 years ago
reported net income of $22,000 for the current year. During the year, Inventory decreased by $7,800, Accounts Payable decreased
Artist 52 [7]

Answer:

$24,800

Explanation:

Indirect method reconciles the Net Income to Operating Cash flow by adjusting for non -cash items previously included in net income and changes in working capital.

Cash flow from Operating Activities

Net income                                                     $22,000

Add Depreciation Expense                            $10,800

Less gain on the sale of equipment was         ($500)

Decrease in Inventory                                      $7,800

Decrease in Accounts Payable                     ($8,400)

Increase in Accounts Receivable                 ($6,900)

net cash provided operating activities        $24,800                                                        

Therefore

The net cash provided (used) by operating activities is $24,800

4 0
3 years ago
Other questions:
  • Why are conflicts of interests a problem in business?
    12·1 answer
  • In the market for gasoline, if the change in demand due to the start of the summer driving season is greater than the change in
    6·1 answer
  • Marginal benefit is a gain from an increase or loss from a decrease in the consumption of a good or service. Marginal benefit is
    14·2 answers
  • an employee who has integrity is _____. a. ethical and friendly b. prompt and efficient c. focused and intelligent d. trustworth
    7·1 answer
  • Gates entered into a contract with Mennonite Deaconess Home &amp; Hospital for the installation of a new, "one-ply roofing syste
    5·1 answer
  • What are the objectives of business​
    8·1 answer
  • Anne Mullens is the bookkeeper for DWG Refrigeration Repair. One afternoon while she was preparing the bank deposit, a customer
    14·1 answer
  • The following units are available for sale during the year:
    5·1 answer
  • You interview a random sample of 50 adults. the results of the survey show that 46​% of the adults said they were more likely to
    13·1 answer
  • Click on my profile picture and open image <br><br> Get nae naed
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!