Who is responsible for filing your federal tax return?

Maura had to get a $350 emergency loan at a very high interest rate to pay for dental work. The lender did not need her credit h

Norma-Jean [14]

Answer:

It would be A Raina is correct because the loan is a line of credit.

Explanation:

Hope this helps!

8 0

2 years ago

Read 2 more answers

f interest rates rise but the quantity of loanable funds demanded and supplies remains constant, this implies that Group of answ

babymother [125]

Answer:

The demand and the supply of loanable funds both remained the same.

Explanation:

If the interest rates rise, but both demand and supply of loanable funds remanin constant, this means that demand and supply remained the same.

This would be a problem in the real world, because when interest rates rise, what should happen is that the supply of funds rise, while demand falls, because a rise in interest rates makes investment more expensive since interset rates are simply the price of the loanable funds.

3 0

2 years ago

Whispering Winds Corp. uses the periodic inventory system and reports the following for the month of June.

vesna_86 [32]

Answer:

a 1) FIFO

Closing Inventory = $1,760

Cost of Goods sold = $11,264

2) LIFO

Closing Inventory = $1,056

Cost of Goods sold = $11,968

b) FIFO gives the higher ending inventory than LIFO because the oldest items and lowest costs are allocated to the cost of goods sold.

c) LIFO results in higher cost of Goods sold because latest cost are allocated to the cost of goods sold and latest cost may include price increases.

Explanation:

FIFO

Closing inventory = 176 units * $10= $1760

Cost goods sold = 352 units + 704+528 -176 =1,408 units sold

from opening $2,112

12 June = $5632

23 June = ( 528-176) =352 units * 10 =3,520

total sold = $11,264

LIFO

Closing inventory = 176 units * 6 = $1,056

Cost goods sold = 352 units + 704+528 -176 =1,408 units sold

23 June = $5,280

12 June = $5,632

1 June = (352-176) = 176 *6 = $1,056

Total = $11,968

4 0

2 years ago

When the effective-interest method of bond discount amortization is used,

SSSSS [86.1K]

Answer: C. interest expense will not be a constant dollar amount over the life of the bond.

Explanation:

When a bond is sold at a discount, the discount will have to be amortized over the life of the bond to ensure that it reaches par at maturity.

As a result, the interest expense will be based on a larger figure every year which would mean that it would have to be larger each time. t will therefore not be a constant dollar amount over the life of the bond.

6 0

2 years ago

A three-year bank CD paying 7.23 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to

Serggg [28]

Answer:

Follows are the solution to the question:

Explanation:

m = 4,

EAR = $(1 + \frac{0.08}{4}) \times 4-1$

$= 1 + 0.02 \times 4-1\\\\= 1 + 0.08 -1\\\\= 0.08\\\\$

The successful quarter cumulative rate of interest = 8.24 \%

In Method 2 use Tool in Texas:

By Using the (ICONV) worksheet:

1)

To pick the worksheet, click ICONV 2.

2)

Its previous meaning will represent the NOM.

3)

To clear the worksheet, click [CLR WORK] 2nd

Continue as below.

Displayed keystrokes:

NOM = previous value 2nd ICONV:

NOM = 0.00 2nd CLRWORK:

8 DAYS: Name = 8.00.

EFF: DownArrow = 0.00

DownArrow: C / Y = meaning previous

4)

DOS: C / Y = 5.00 p.m.

EFF: DownArrow = 0.00

CPT: FRP = 8.24

3 0

2 years ago