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

devlian [24]

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%

6 0

4 years ago

The Petit Chef Co. has 7 percent coupon bonds on the market with 9 years left to maturity. The bonds make annual payments and ha

uysha [10]

Answer:

The yield to maturity is 6.45%.

Explanation:

Yield to Maturity (YTM) is the long term yield on the bond based on the assumption that the bond is held till maturity. The Yield to Maturity is calculated using the formula as shown in the attachment,

The coupon payment on bonds is = 1000 * 0.07 = 70

YTM = ( 70 + (1000 - 1038.5)/9 ) / ((1000 + 1038.5) / 2)

YTM = 0.06448 or 6.448% rounded off to 6.45%

6 0

4 years ago

For each of the following transactions of JonesSpa Corporation, for the month of January, identify each as an investing activity

expeople1 [14]

Answer:

1. Paid cash to purchase inventory

OPERATING ACTIVITY, DECREASES CASH FLOW STATEMENT

2. Purchased land by issuing common stock

NON CASH INVESTING AND FINANCING ACTIVITY, DOES NOT AFFECT CASH FLOW STATEMENT

3. Accounts receivable decreased in the year

OPERATING ACTIVITY, INCREASES CASH FLOW STATEMENT

4. Sold equipment for cash

INVESTING ACTIVITY, INCREASES CASH FLOW STATEMENT

5. Recorded depreciation expense

OPERATING ACTIVITY, INCREASES CASH FLOW STATEMENT

6. Income taxes payable increased in the year

OPERATING ACTIVITY, INCREASES CASH FLOW STATEMENT

7. Declared and paid a cash dividend

FINANCING ACTIVITY, DECREASES CASH FLOW STATEMENT

8. Accounts payable decreased in the year

OPERATING ACTIVITY, DECREASES CASH FLOW STATEMENT

9. Paid cash to settle notes payable

FINANCING ACTIVITY, DECREASES CASH FLOW STATEMENT

10. Prepaid expenses increased in the year

OPERATING ACTIVITY, DECREASES CASH FLOW STATEMENT

11. Sold inventory for cash

OPERATING ACTIVITY, INCREASES CASH FLOW STATEMENT

12. Paid cash to acquire treasury stock

FINANCING ACTIVITY, DECREASES CASH FLOW STATEMENT

13. Net income

OPERATING ACTIVITY, INCREASES CASH FLOW STATEMENT

14. Decrease in accrued liabilities

OPERATING ACTIVITY, DECREASES CASH FLOW STATEMENT

15. Increase in prepaid expenses

OPERATING ACTIVITY, DECREASES CASH FLOW STATEMENT

8 0

3 years ago

FL Systems Inc. and Oryxo Systems Inc. are two competing firms. FL Systems Inc. has $300,000 in tangible assets and $200,000 in

BartSMP [9]

Answer:

C

Explanation:

Based on the scenario being described within the question it can be said that FL Systems Inc. will find it harder than Oryxo Systems Inc. to attain competitive advantage. This is mainly due to the fact that FL Systems Inc. has a large percentage of their money locked in intangible assets. These are assets that cannot be touched or physically used by the customers which makes it very difficult for customers to see the potential value which ultimately hurts their competitive advantage.

8 0

3 years ago

Which is a business likely to need to secure startup capital from a venture capitalist?

EleoNora [17]

Any business that is in the tech business, where massive amounts of money go for development and for producton are companies that are very likely to need startup capital from some sort of investor; in this case it can be a venture capitalist but it can also be any other type of investor.

4 0

3 years ago

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