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krok68 [10]
3 years ago
8

On January 30, 2014, your parents lent you $400. On January 30, 2015, you repaid the loan by writing your parents a check for $4

32. What was the annual interest rate your parents charged you for that loan?
Business
1 answer:
grandymaker [24]3 years ago
4 0

Answer:

The annual interest rate charged would be 8%

Explanation:

The annual interest rate which is charged by the parents for the loan is computed as:

Interest rate = (Amount repaid for loan - Lent amount by parents) /Lent amount by parents × 100

where

Lent amount by parents is $400

Amount repaid for loan is $432

Putting the values above:

Interest rate = ($432 - $400) / $400 × 100

Interest rate = $32/ $400 × 100

Interest rate = 0.08 × 100

Interest rate = 8%

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Basic Company uses activity-based costing. Assume the predetermined overhead allocation rates are $0.90 per machine hour for mix
Elodia [21]

Answer:

$2.70 mixing; $4.40 sampling

Explanation:

Activity based costing is a process by which the various activities in a production process are identified and cost allocated to each one. Each of these actity costs are added as product cost. It involves assigning indirect cost to direct cost.

For mixing department the cost rate is $0.9 per hour for 3 machine hours. So cost is (0.9* 3)= $2.7

For sampling the rate is $2.20 for 2 tests. So cost is (2.20* 2)= $4.4

7 0
3 years ago
Ace Products has a bond issue outstanding with 15 years remaining to maturity, a coupon rate of 7.4% with semiannual payments of
frutty [35]

Answer:

Current yield is 6.17%

<em>YTD is 5.43%</em>

<em>YTC is 4.26%</em>

Explanation:

Tenor: 15 years

-> number of payment (NPer) is 30 (= 15 years * 2 for semiannual)

Coupon rate: 7.4%

- > semiannual payments (PMT): $37 = ($1000*7.4%/2)

Future value (FV): $1000

Present value (PV): $1200

Current yield = annual coupon/ current price = $37*2/$1200 = 6.17%

<u>Extra: </u>

We use excel to calculate  yield to date (YTD) or nominal yield:

= Rate(Nper, PMT, - PV,FV) = Rate(30,37,-1200,1000) = 2.717% semiannual

-> annual rate is 5.43%

The bond issue is callable in 5 years at a call price of $1,074, then FV is $1074

Yield to call = rate(10,37,-1200,1074) = 2.13% semiannual

-> annual rate is 4.26%

5 0
3 years ago
Suppose that Crystal has just finished smoking a cigarette and is thinking about throwing the cigarette butt onto her neighbor B
Sedbober [7]

Answer:D. Moral codes and social sanctions

Explanation:

Moral codes refers to acceptable or right ethics that guides people's conducts . Social sanctions refers to actions not necessarily back or enforceable legally that force the people to behave in the right manner.

In the above scenario Brian was not willing to litter the floor due to anticipated public negative reaction s to her littering the floor with cigarettes butt.

It's not a contract for no two parties are involved, nor involved busines merger and neither is it a charity action.

8 0
3 years ago
Assessing the communication forms and orientations of coworkers and assessing their sources of identity is an example of which p
Lostsunrise [7]

Answer:

Attending

Explanation:

There are four steps in the risk negotiation cycle that includes attending, sensemaking, transforming and maintaining.

While assessing and analyzing the forms of communication and the workers orientations with respect to identify the sources reflects the attending phase whether the employees attend the orientations and according to that the analyzed could be done

Therefore this is an attending phase  

6 0
3 years ago
Physical distribution or shipping only refers to the process of transporting goods. True or false?
Natali [406]
The answer is FALSE. Hope this helps.
8 0
3 years ago
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