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frozen [14]
3 years ago
14

Martin is offered an investment where for $4000 today, he will receive $4240 in one year. He decides to borrow $4000 from the ba

nk to make this investment. What is the maximum interest rate the bank needs to offer on the loan if Martin is at least to break even on this investment?A) 6%B) 5%C) 7%D) 4%
Business
1 answer:
Mnenie [13.5K]3 years ago
8 0

Answer:

The maximum interest rate the bank needs to offer on the loan if Martin is at least to break even on this investment is A) 6%

Explanation:

Martin is offered an investment where for $4000 today, he will receive $4240 in one year. The interest rate of the investment = ($4,240-$4,000)/$4,000x100% = 6%

The maximum interest rate the bank needs to offer on the loan if Martin is at least to break even on this investment should equal the interest rate of the investment: 6%

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The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Account Title Debit Credi
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Answer:

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Repairs expense—Trucks        <u>  (12,000)  </u>

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Retained Earnings

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Office supplies          <u>   3,000 </u>    Total current liabilities 16,000

Total Current Assets: 28,500    Long-term                     53,000

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Total non-current     221,000    Retained Earnings      160,500

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Total Assets             249,500    Liabilities + Equity    249,500

Explanation:

For the income statement we list the revenue and then, we subtract all the expenses account.

Retained Earnings will be beginning + income - dividends. This value will go into the balance sheet.

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and non-current like the truck and the land which are going to be in the company's book for more than a year before converting into cash.

Liabilities and equity will be in the other side and their sum should match the total assets.

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