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
Deffense [45]
3 years ago
9

Carmen’s Beauty Salon has estimated monthly financing requirements for the next six months as follows: January $ 8,200 April $ 8

,200 February 2,200 May 9,200 March 3,200 June 4,200 Short-term financing will be utilized for the next six months. Projected annual interest rates are: January 6.0 % April 13.0 % February 7.0 % May 12.0 % March 10.0 % June 12.0 % a. Compute total dollar interest payments for the six months. (Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent.)
Business
1 answer:
bulgar [2K]3 years ago
5 0

Answer:

The  total dollar interest payments for the six months is $303.33

Explanation:

The computation of the total dollar amount for the six month is shown below:

= (January financing × annual interest rate) ÷ (total number of months in a year) + (February financing × annual interest rate) ÷ (total number of months in a year) + (March financing × annual interest rate) ÷ (total number of months in a year) + (April financing × annual interest rate) ÷ (total number of months in a year) + (May financing × annual interest rate) ÷ (total number of months in a year) + (June financing × annual interest rate) ÷ (total number of months in a year)

= ($8,200 × 6.0%) ÷ 12 months + ($2,200 × 7.0%) ÷ 12 months + ($3,200 × 10.0%) ÷ 12 months + ($8,200 × 13.0%) ÷ 12 months + ($9,200 × 12.0%) ÷ 12 months + ($4,200 × 12.0%) ÷ 12 months

= $41 + $12.83 + $26.67 + $88.83 + $92 + $42

= $303.33

You might be interested in
Flo and Glen form Health Food Inc. to coordinate the purchase, sale, and delivery of food products from organic farms to hospita
aksik [14]

Answer: Option (D)

Explanation:

Benefit corporation is referred to as the traditional organization with the modified accountability delivering it to the higher principle of the purpose, responsibility and transparency. The sole purpose of this Benefit corporation is to commit to the creation of public benefit and thus add sustainable value alongside generating the profit.

4 0
3 years ago
During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value
MAVERICK [17]

Answer:

$162,500

Explanation:

Depletion is used to expense the cost of extracting natural resources.

Depletion expense = (unit extracted in 2017 / total units that could be extracted) x (Cost- salvage value)

(1,500,000 / 12,000,000) x ( $1,500,000 - $200,000) = 0.125 × 1,300,000 = $162,500

I hope my answer helps you

8 0
3 years ago
Read 2 more answers
How long does a trademark last? _____ five years fifteen years twenty years ten years
valina [46]

Answer:

10 years.

Explanation:

3 0
3 years ago
Since the politicians are unwilling to get rid of the rent controls, they offer you a list of suggestions to make housing more a
nika2105 [10]
<span>For statement 1; Government provided housing, this may be costly but the way that the people are provided with houses can decrease the number of homeless people. For statement 2; Tax deductions to renters, this has been going on for thousand years, taxes are used to provide services to people if the government properly used it. For statement 3; Tax breaks to construction companies who provide affordable housing, this is common to developers who intend to maximize their profit and the available area for people whose income is not that high. I would suggest statement 3.</span>
6 0
4 years ago
Which of the following relies the most on the health of the economy?
guajiro [1.7K]

Answer: Trade Industries

Explanation:

Trade industries survive as long as people and businesses can afford to trade goods and services. If entities are unable to afford consumption for a reason such as a decline in income, the trade industries will suffer.

When the economy is not healthy, income levels of people will reduce and so trade industries will suffer as opposed to a healthy economy where entities can afford goods and services which will ensure the survival of trade industries.

8 0
3 years ago
Other questions:
  • PLEASE HELP ME???
    10·1 answer
  • Q 8.8: What is the effect of the collection of an account that had been previously written off under the allowance method of acc
    7·1 answer
  • In 2018, internal auditors discovered that Fay, Inc., had debited an expense account for the $700,000 cost of a machine purchase
    7·1 answer
  • Assume that you have just purchased some shares in an investment company reporting $500 million in assets, $50 million in liabil
    15·1 answer
  • Miranda is an executive for a company that manufactures dental tools. Her company prefers to measure progress by what percentage
    6·1 answer
  • 4) An investor has $60,000 to invest in a $280,000 property. She can obtain either a $220,000 loan at 9.5 percent for 20 years o
    5·1 answer
  • Assume year 1 is 2019 and by the beginning of year 4, the Sanchezes have paid down the principal amount of the loan to $500,000.
    7·1 answer
  • Check all of the perks a job might offer as incentives for potential applicants
    14·2 answers
  • Holding the nonprice determinants of demand constant, a change in price would:
    12·1 answer
  • A country with a trade surplus generally has a favorable balance of payments, which means?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!