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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

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Answer:

c. $1.58.

Explanation:

The computation of the direct materials cost per equivalent unit is given below:

Equivalent units for material is

= 100% of 193,000 + 100% of 28,000

= 193,000 + 28,000

= 221,000

Equivalent cost for material is

= $94,100 + $254,800

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So, the direct materials cost per equivalent unit is

= $348,900 ÷ 221,000

= $1.58

4 0
2 years ago
During a recent​ month, Canon Company planned to provide cleaning services to 30 customers for $ 26 per hour. Each job was expec
prisoha [69]

Answer:

$1,950 more than expected

Explanation:

In this question ,we have to compare the revenues based on expected and the actual

So, the expected revenues would be

= Number of customers × per hour rate × expected time spent

= 30 customers × $26 × 8 hours

= $6,240

And, the actual revenues would be

= Number of increased customers × per hour rate × average time spent

= 42 customers × $26 × 7.5 hours

= $8,190

The revenue is increased by

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= $1,950 more than expected

This is the answer but the same is not provided in the given options

7 0
3 years ago
Corporate social responsibility describes the firm's:
goldenfox [79]

Answer:

2. concern for the welfare of society.

Explanation:

Corporate social responsibility refers to a concept that helps a company to take into account environment and social concerns in the business activities to make valuable contributions to society. According to this, the answer is that corporate social responsability describes the firm's concern for the welfare of society.

8 0
3 years ago
Bustillo Inc. is working on its cash budget for March. The budgeted beginning cash balance is $51,000. Budgeted cash receipts to
Julli [10]

Answer:

$16,000

Explanation:

Data provided

Ending cash balance = $72,000

Beginning cash balance = $51,000

Cash receipts = $135,000

Cash disbursements = $130,000

The computation of cash borrowing is shown below:-

Ending cash balance = Beginning cash balance + Cash receipts - Cash disbursements + Cash borrowings

$72,000 = $51,000 + $135,000 - $130,000 + Cash borrowings

Cash borrowings = - $72,000 + $51,000 + $135,000 - $130,000

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= $16,000

3 0
3 years ago
A customer has a fully paid options position and is long marginable stock. Subsequently he receives a margin call on his long st
Feliz [49]

Answer: II and III

Explanation:

From the question, we are informed that a customer has a fully paid options position and is long marginable stock and that subsequently he receives a margin call on his long stock position.

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Therefore, option C is the right answer.

8 0
3 years ago
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