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dimaraw [331]
3 years ago
10

Mia received a credit card offer in the mail. The credit card has an annual percentage rate of 26%. What is the approximate mont

hly interest rate that will apply to any unpaid balances on this credit card?
Business
1 answer:
devlian [24]3 years ago
6 0

Answer:

Monthly interest rate = 2.16666667%

Explanation:

Given:

Annual percentage rate = 26% = 26 / 100 = 0.26

Total number of months in a year = 12 month

Monthly interest rate = ?

Computation of monthly interest rate :

Monthly interest rate = Annual percentage rate / Total number of months in a year

Monthly interest rate = 0.26 / 12

Monthly interest rate = 0.0216666667

Monthly interest rate = 2.16666667%

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Nancy and Joan bought a small farm for $300,000 under an installment land contract with a $50,000 down payment. They will pay in
KatRina [158]

Answer:

75,000

Explanation:    

300,000-50,000 = 250000*6%*5

6 0
2 years ago
A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.
Svetllana [295]

Answer:

An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

Explanation:

Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

4 0
2 years ago
Let mp = marginal product, p = output price, and w = wage, then the equation that represents a situation where a competitive fir
Rasek [7]
I have no idea haha lol


4 0
3 years ago
Glassworks Inc. produces two types of glass shelving, rounded edge and squared edge, on the same production line. For the curren
jenyasd209 [6]

Answer:

Overhead Cost Category (Activity Cost Pool)       Cost

Supervision                                                             $2,160

Depreciation of machinery                                  $28,840

Assembly line preparation                                  <u> $23,000</u>

Total overhead                                                     $54,000

Supervision

Direct labor cost ($) $6,200 $11,800 $18,000

Depreciation of machinery

Machine hours 400 hours 800 hours 1,200 hours

Assembly line preparation Setups (number)

32 times 93 times 125 times

1)

overhead costs assigned to Rounded Edge

supervision = $2,160 x ($6,200 / $18,000) = $744

depreciation = $28,840 x (400 / 1,200) = $9,613

assembly line preparation = $23,000 x (32/125) = $5,888

total overhead costs = $16,245

overhead costs assigned to Squared Edge

total overhead costs = $54,000 - $16,245 = $37,755

2)

total costs assigned to Rounded Edge

materials $9,500

direct labor $6,200

overhead $16,245

total $31,945

cost per foot = $31,945 / 10,500 = $3.0424 per foot

total costs assigned to Squared Edge

materials $21,600

direct labor $11,800

overhead $37,755

total $71,155

cost per foot = $71,155 / 14,000 = $5.0825 per foot

3)   The average cost per foot of Rounded Edge decreased because lower overhead costs were allocated to their production.  

The average cost per foot of Squared Edge increased because higher overhead costs were allocated to their production.  

4 0
3 years ago
What is the value today of $4,400 per year, at a discount rate of 8.3 percent, if the first payment is received 6 years from tod
Pepsi [2]

Answer:

Present Value = $290.20

Explanation:

The present value of a future payment can be calculated with the following formula:

PV = FV / (1 + i)N

Where i is the annual interest rate or discount rate, and t is the number of years until the payment will be received.

PV = Present Value = ?

FV = Payment = $4,400

i = 8.3% = 0.083

N = 20 - 6 = 14

PV = $4400 / (1 + 0.083)(20 - 6)

PV = $4400 / (1.083 * 14)

PV = $4400 / 15.162

PV = $290.1992

Present Value = $290.20 (Approximated)

4 0
3 years ago
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