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Pani-rosa [81]
3 years ago
12

A payday loan company charges 6.00 percent interest for a two-week period. What is the annual interest rate? (Do not round inter

mediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
Business
1 answer:
Mashcka [7]3 years ago
8 0

Answer:

The annual interest rate is 156  percent

Explanation:

If   6.00 percent interest for a two-week period then annual interest rate =

rate for a two-week period * (52 weeks/ 2 weeks)  = 0,06 * 26 = 1,56

1,56 * 100 =  156  percent for a year period

<u>Note</u>: One year have 52 weeks

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The following information is available for Bandera Manufacturing Company for the month ending January 31:
GrogVix [38]

Answer:

Bandera Manufacturing Company

a) Cost of goods sold:

Finished goods inventory, January 1    31,700

Cost of goods manufacturing              131,860

Finished goods inventory, January 31 28,900

Cost of goods sold                            $134,660

b) Gross profit

Sales                      $280,560

Cost of goods sold  134,660

Gross profit           $145,900

c) Net Income

Gross profit                   $145,900

Selling expenses              44,050

Administrative expenses 23,290

Net Income                   $78,560

Digital Vibe Manufacturing Company

Digital Vibe Manufacturing Company:

Sales Revenue      $232,300

Cost of goods sold  103,400

Gross profit             128,900

Selling expenses     59,400

Administrative exp.  26,100

Net Income            $43,400                

a. Income Statement for the month ended January 31:

Operating expenses:

Selling expenses                59,400

Administrative exp.             26,100

Total operating expenses 85,500

b. Digital Vibe Manufacturing Company

Inventory Balances For the Month Ended January 31

Inventory balances on January 31:

Raw materials           11,100

Work in process     41,000

Finished goods     26,500

Explanation:

a) Data and Calculations:

Digital Vibe Manufacturing Company

Purchases                   $48,300

less Inventory                  11,100

Cost of materials used 37,200

Direct labor                   55,500

Factory overhead         78,200

Cost of manuf.            170,900

Transferred to

finished goods          129,900

WIP inventory               41,000

Transferred to

finished goods        129,900

Cost of goods sold  103,400

Inventory of finished 26,500

Selling expenses      59,400

Administrative exp.   26,100

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2 years ago
A neurobiologist explains to his students that the human nervous system is analogous to electrical circuits in homes. if the cir
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7 0
3 years ago
Alisha has a five-year car loan of $15,000 with an interest rate of 6 percent. If the interest is compounded annually, how much
Zina [86]
We are given with the data that the original cost of the car is $15000. However Alisha wants to pursue the whole payment for five years thus a 6 percent interest rate is given. The formula for finding the total cost is TC = 15000* (1+0.06)^5. The answer is $20,073.39 
3 0
2 years ago
which costs of inflation could the government reduce without reducing inflation? a. arbitrary redistributions of wealth b. shoel
Ilya [14]

Answer:

A is the correct answer.

Explanation:

Inflation causes an arbitrary redistribution of wealth and income. Unexpected inflation is responsible for it. The redistribution of income is caused because the wages and salaries increase rapidly the prices.  and other wages and salaries slowly than the price level. The increase in the prices of some assets more rapidly than the price level while the asset prices increase slower than the price level causes the redistribution.

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3 years ago
"what is the first stage of the marketing research process?"
777dan777 [17]
I️ don’t know for sure which one it would be
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3 years ago
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