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nadya68 [22]
4 years ago
11

Neveready Flashlights Inc. needs $302,000 to take a cash discount of 2/19, net 71. A banker will loan the money for 52 days at a

n interest cost of $11,800. a. What is the effective rate on the bank loan
Business
1 answer:
Gnesinka [82]4 years ago
4 0

Answer:

The effective rate on the bank loan is 27%

Explanation:

The effective rate of Interest

= ($11,800/$302,000)*(360Days/52days)

= 0.039*6.92

=27%

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3 years ago
The process cost summary presents calculations of the cost of units completed during the reporting period, but does not present
algol13

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Answer:

Attached below are the graphs

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