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3 years ago

what is the effective interest rate of a simple discount note of 8000 at an ordinary bank discount rate of 11%, for 120 days?

Business

1 answer:

Westkost [7]3 years ago

8 0

Answer:

11.41%

Explanation:

Discount rate = 11%, M = 120 days = 3 month

Effective rate = [(1 + 11% / 3)^3] - 1

Effective rate = [(1 + 0.11/3)^3] - 1

Effective rate = [(1 + 0.0366667)^3] - 1

Effective rate = [(1.0366667)^3] - 1

Effective rate = 1.1140827371 - 1

Effective rate = 0.1140827371

Effective rate = 11.40827371%

Effective rate = 11.41%

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Betsy Strand’s regular hourly wage rate is $24, and she receives an hourly rate of $36 for work in excess of 40 hours. During a

melamori03 [73]

<h3>Betsy’s gross earnings for January period is $1,140 </h3><h3>Betsy’s net pay for January period is $966.79 </h3>

Explanation:

Betsy Strand’s regular hourly wage rate = $24
Betsy Strand’s hourly rate for work in excess of 40 hours = $36
Betsy works during a January pay period = 45 hours.
Betsy's pay for January period = $24 * 40 + $36 * 5
Betsy's pay for January period = $1,140

Betsy’s gross earnings for January period is $1,140

Betsy’s federal income tax withholding = $86
FICA tax rate = 7.65%.
Betsy’s FICA Taxes Payable = $1,140 * (7.65 / 100)
Betsy’s FICA Taxes Payable = $87.21
Betsy’s net pay for January period = Gross earnings - Federal income tax withholding - FICA Taxes
Betsy’s net pay for January period = $1,140 - $86 - $87.21
Betsy’s net pay for January period = $966.79

Betsy’s net pay for January period is $966.79

6 0

3 years ago

Mr. A owned 75% of the voting stock and 85% of the nonvoting stock of Corporation Y. Mr. A transferred property with a fair mark

Lena [83]

Answer:

Explanation:

Since Mr. A already owns 75% of common stock (and 85% of nonvoting stock), the extra 5% will result in a total of 80% (and 90%), that means that he cannot recognize any loss or gain resulting from this transaction. This applies to all stockholders that own at least 80% of a company's stocks and transfer property in exchange for more stocks.

5 0

3 years ago

The stockholders' equity section of Jun Company's balance sheet as of April 1 follows. On April 2 Jun declares and distributes a

Firdavs [7]

Answer:

i am sorry i do not know

Explanation:

sorry

5 0

3 years ago

Faye’s bank charges her a $2.25 service fee every time she uses an out-of-network ATM. If Faye uses an out-of-network ATM twice

murzikaleks [220]

Answer:

d. $234.00

Explanation:

The computation of the service fees every year is shown below:

= Service fee × weekly charge method × total number of weeks in a year

= $2.25 × 2 × 52 weeks

= $234

Since we have to compute for the year so we multiplied all three above components. Moreover, it is given in the question that if Faye use out of network than the bank service charge will be double, so we multiplied it by 2

4 0

3 years ago

If a company's current ratio increases from 1.2 to 1.4 from one year to the next, and its acid test ratio decreases from 0.20 to

Trava [24]

Answer:

The inventory has been reportedly increased and it should be checked.

Inventory management should be further examined.

Explanation:

Current Ratio = Current Assets/ Current liabilities

An increase in the current ratio means that there is an increase in the current assets or decrease in the current liabilities.

Acid test Ratio= Current Assets - Inventory / Current liabilities

If the acid test ratio is decreased it means that there is an increase in current liabilities or the current assets have decreased.

If we carefully look at the two formulas we find that inventory has increased and deduction of inventory from current assets reduces the amount of current assets and increases the current liabilities giving a bigger acid test ratio.

The inventory has been reportedly increased and it should be checked.

Inventory management should be further examined.

5 0

3 years ago