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Serjik [45]
3 years ago
10

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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Bonita Industries had the following bank reconciliation at March 31, 2020: Balance per bank statement, 3/31/20 $74600 Add: Depos
drek231 [11]

Answer:

$50,400

Explanation:

Cash Balance as per bank statement                        $62,900

[$69700+$25300-$20400+$87600-$99300]

Less: Outstanding checks at April 30, 2020              <u>$12,500</u>

Adjusted Cash balance per bank                               <u>$50,400</u>

So, the cash balance per books at April 30, 2020 is $50,400

5 0
3 years ago
Name any TWO markets within the four-sector circular flow model​
user100 [1]

Answer:

The circular flow model shows the interaction between two groups of economic decision-makers―households and businesses―and two types of economic markets―the market for resources and the market for goods and services.

4 0
3 years ago
Read 2 more answers
Assume the following information pertaining to Moonbeam Company:
Nana76 [90]

Answer:

<u>d. Material Purchases =  $ 169,000</u>

Explanation:

Cost Of Goods Statement.

Beginning Direct Materials =         $117,000

Add Material Purchases =            $ 169,000

Less Ending Direct Materials =     <u>$130,000 </u>

Direct Materials Used =                 $156,000 ( given)

Direct Labor=                                    $ 697,000

Factory Overhead =                         $199,000

Total Manufacturing Costs =           $896,000

Beginning WIP Inventory =              $85,000

Ending WIP Inventory =                 $104,000

Cost of Goods Manufactured=      $ 1033,000

Beginning Finished Goods Inventory = $130,000

Ending Finished Goods Inventory = $124,000

Cost Of Goods Statement               = $ 1039,000

4 0
3 years ago
On January 1, 2020, NoDice Corporation issues $540,000, 5-year, 12% bonds for $529,000. Interest is paid semiannually on January
Svet_ta [14]

Answer:

Dr Interest expense                    $33,500

Cr Discount on bonds payable                 $1,100

Cr Cash                                                            $32,400

Explanation:

Discount on bonds payable=$540,000-$529,000=$11,000

Amortization of discount=discount on bonds issue/period of the bond

period to maturity of the bond is  5 years *2 =10 since the bond pays interest semi-annually

Amortization =$11,000/10=$1,100

Semi-annual interest=$540,000*12%/2=$32,400

the bond semi-annual interest expense=discount amortization+interest payment

the bond semi-annual interest expense=$32,400+$1,100=$33,500

5 0
3 years ago
All standalone pdp formularies have a ___-tier structure for 2022.
Mekhanik [1.2K]

All standalone PDP formularies have a Five-tier structure for 2022.

This is based on the regulations laid down by the Centers for Medicare & Medicaid Services (CMS).

Also, based on CMS directives, Wellcare 2022 Prescription Drug Plan (PDP), Consolidation has reduced the standalone PDP offerings to three plans.

The current practice is six plans in about 34 regions across all 50 states and D.C.

Hence, in this case, it is concluded that " All standalone PDP formularies have a Five-tier structure for 2022."

Learn more here: brainly.com/question/17043850

4 0
3 years ago
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