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NNADVOKAT [17]
3 years ago
9

Mark Simpson earns $980 biweekly as a security guard for Albany Med. His group medical insurance costs $7,000 a year. The compan

y pays 90% of the cost of medical insurance. How much is deducted from Marks biweekly paycheck for medical coverage
Business
1 answer:
kondor19780726 [428]3 years ago
5 0

Answer:

$26.923

Explanation:

Biweekly payment means payments every 14 days or 2 weeks. One year has 52 weeks. Mark is paid 26 times per year

if the company pays 90% of $7000, then Mark pays 10% of $7000

Mark pays = 10/100 x $7000

=0.1 x $7000

=$700

The amount of $700 is spread over 26 weeks.

Each paycheck, Mark will be deducted

=$700/26

=$26.923 per check

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Danny deposits $50 in a savings account at 5 percent interest for 3 months. How much will be in the account after 3 months?
sveticcg [70]

Answer:

$ 50.625

Explanation:

Amount of deposit = $50

interest 5 percent  usually per year

Per year interest rate = 5/100= 0.05

Interest rate for 3 months= 0.05/12 x3

      =0.0125

Interest amount =0.0125 x50= 0.625

Money in the account will be

=$50+0.625

=$ 50.625

5 0
3 years ago
Callaway Golf Co. leases telecommunication equipment from Photon Company. Assume the following data for equipment lease form Pho
inessss [21]

Answer:

This lease is  regarded and classified  as Capital lease.

Explanation:

This lease is  regarded and classified  as Capital lease.

Here, Callaway Golf Co. is the body financing the leased asset but the right ownership is with Photon Company.

Now; the present value of future payment is calculated as:

Present value of future payment =[PVA 6%,5 × Annual payment ]+[PVF 6%,5 × Residual value]

=[4.46511 × 31000] +[0.74726 × 15500]

= 138418.27+ 11582.53

= 150000

However the present value of minimum lease payment is equal or more than 90% fair market value ,as such we therefore conclude that this  lease is a capital lease.

3 0
3 years ago
Expected cash dividends are $4.00, the dividend yield is 8%, flotation costs are 6% of price, and the growth rate is 5%. Compute
Brut [27]

Explanation:

\text { Dividend, } \mathrm{D}= 4 \\\text { Dividend yield rate }=\mathrm{D} / \text { Current price }=8 % \\\text { Current price }, \mathrm{P} 0=\mathrm{D} / 8 \%=\$ 4 / 8 \%=$ 50

\text { Flotation cost, } \mathrm{F}=8 \% \text { of current price }=\$ 50 * 8 \%=\$ 4 \\
\text { Growth rate,g }=4 % \\
\text { Cost of new common stock, } \mathrm{Ke}=[\mathrm{D} 1 /(\mathrm{P} 0-\mathrm{F})]+\mathrm{g} \\  =[\$ 4 /(\$ 50-\$ 4)]+4 \% \\
=0.086956522+0.04 \\
=0.126956522=12.7 \% \text {(Rounded) }

12.7%

6 0
2 years ago
Mobray Corp. is experiencing rapid growth. Dividends are expected to grow at 26 percent per year during the next three years, 16
SVEN [57.7K]

Answer:

D1 = 2.39

Explanation:

Expected Dividend can be found out by solving the following equation attached in the image.

In the formula D1 = expected dividend, Gs = 26%, Gm = 16%, gL = 7%, r =12%

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the formulas indications.  

5 0
2 years ago
Lindy Corporation has 1,000,000 authorized shares of $20 par value common stock. As of June 30, 2014, there were 600,000 shares
sertanlavr [38]

Explanation:

The journal entries are as follows

a. Retained earnings A/c Dr $300,000  (600,000 shares × $0.50)

             To Dividend payable A/c $300,000

(Being the dividend is declared)

b. No journal entry is required

c. Dividend payable A/c $300,000

              To Cash A/c $300,000

(Being the dividend is paid for cash is recorded)

3 0
3 years ago
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