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lawyer [7]
3 years ago
10

Edgar accumulated $5,000 in loan debt. If the interest rate is 20% per year and he does not make any payments for 2 years, how m

uch will he owe on this debt in 2 years for quarterly compounding? Round your answer to the nearest cent Do NOT round until you calculate the final answer.
Business
1 answer:
hodyreva [135]3 years ago
3 0

Answer:

Edgar

The amount he will owe on this debt in 2 years for quarterly compounding is:

= $7,387.28

Explanation:

Accumulated loan debt = $5,000

Interest rate per year = 20%

Period of loan = 2 years

Interest compounding = quarterly

From an online financial calculator:

N (# of periods)  8

I/Y (Interest per year)  20

PV (Present Value)  5000

PMT (Periodic Payment)  0

Results

FV = $7,387.28

Total Interest $2,387.28

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You purchased shares of a mutual fund at a price of $20 per share at the beginning of the year and paid a front-end load of 6.0%
Feliz [49]

Answer:

1.99%

Explanation:

Calculation for your return if you sold the fund at the end of the year

Return={[$20 * (100%-6%) * (1.10 - .015)] -$20}/$20

Return={[$20 * .94 * (1.10 - .015)] -$20}/$20

Return = 1.99%

Therefore your return if you sold the fund at the end of the year would be 1.99%

3 0
3 years ago
If the best surgeon in town is also the best at cleaning swimming pools, then according to the theory of comparative advantage,
tamaranim1 [39]

Answer:

tspecialize in being a surgeon because its opportunity cost is lower

Explanation:

A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.

Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives

What the surgeon would give up to pratice as a surgeon would be lower compared than if he decided to specialise in cleaning pools

thus he should specialize in being a surgeon because its opportunity cost is lower

7 0
3 years ago
31. If a company initially records the purchase of supplies to the supplies expende account, the mount of the adjusting entry ma
scoundrel [369]

We can actually deduce here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.

<h3>What is accounting period?</h3>

An accounting period is actually known to be the period of time that a particular accounting function is covered. It can be a fiscal year, quarterly, monthly or even weekly.

We see here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.

Learn more about accounting period on brainly.com/question/26533843

#SPJ12

6 0
2 years ago
The class trip is going to cost each of the fifty
Alex

Answer:

$6,825.00

Explanation:

50x$130=$6,500.00

$6,500 × 5% = $325.00

$325.+$6,500=6,825.00

8 0
3 years ago
David bought stock for $4,000 and one year later he sold it for $1,000. The sale resulted in a:
AURORKA [14]

Answer:

Capital Loss

Explanation:

A capital loss occurs when an investment asset decrease in value between the time of purchase and the time for selling. The loss is realized only when the asset is sold.  Examples of investment assets that can lose value include stocks, mutual funds, index funds, real estate, and bonds.

A capital gain or loss is the purchase price minus selling price of an investment asset. Capital gain is when the result is positive, implying that the asset has appreciated in value.  A capital gain always attracts tax.  David experienced a capital loss of  $3000 as the selling price was lower than the buying price ($ 4000-$1000).

7 0
3 years ago
Read 2 more answers
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