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Doss [256]
3 years ago
8

On July​ 7, University Bank lent​ $560,000 to Jazz Music Shop on a 60​ day, 7% note. What is the maturity value of the​ note? (U

se a​ 360-day year and round answers to the nearest​ dollar.)
Business
1 answer:
mr Goodwill [35]3 years ago
6 0

Answer: The maturity value of the note is $5,66,533.

We can arrive at the answer with the steps below:

The formula we use to calculate Maturity Value is:

Maturity Value = Principal * ( 1+ (Rate * Time))

In this question,

Principal = $560,000

Interest = 7% per year

Time period = 60 days.

Number of days in a year = 360 days (given in the question).

Substituting the value of the time period calculated above in the Maturity Value formula we have:

Maturity Value = $560,000 × (1+(0.07×60/360))

Maturity Value = $560,000 × (1+(0.07×1/6))

Maturity Value = $560,000 × 1.011666667

Maturity Value = $566533.3333

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Eduardo sold 500 shares of northcutt corporation stock on the new york stock exchange. this transaction:____.
Rasek [7]

Since Eduardo sold 500 shares of Northcote corporation stock on the new York stock exchange. this transaction is known to be occurred in the secondary market.

<h3>What Is a Secondary Market? </h3>

The secondary market is known to be a type of a market where investors are said to come together so as they can be able to buy and sell securities that they are said to have  already own.

Note that it is what a lot of  people often  think of as the "stock market," and as such, Since Eduardo sold 500 shares of Northcote corporation stock on the new York stock exchange. this transaction is known to be occurred in the secondary market.

Learn more about secondary market from

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: Eduardo sold 500 shares of Northcutt Corporation stock on the New York Stock Exchange. This transaction: Multiple Choice took place in the primary market occurred in a dealer market occurred in the secondary market. involved a proxy

7 0
1 year ago
Which organization requires a 90 day supply of oil (links to an external site.)links to an external site. (known as the strategi
lora16 [44]
<span>The organization that requires a 90-day supply of oil is the International Energy Agency (IEA). Each country in the organization must stock an amount of petroleum equivalent to this amount because of the organization's obligations.</span>
8 0
3 years ago
Paula is in charge of maintaining good relationships between her organization and local government, business leader groups, and
N76 [4]

Answer:

a. public relations

Explanation:

As the name suggest that public relations means the relations that should be made between the organization and the general public, local government, leader groups, etc. It would create a positive image for the public at large by communicating with the people so that they get to know about the company

Therefore according to the given situation, the option a is correct

4 0
3 years ago
A key characteristic of a successful entrepreneur is:
avanturin [10]

Answer:

C) Learning to fail intelligently

Explanation:

Economics recognizes four factors of production, the first three are land, labor and capital:

  1. land: includes any raw materials and natural resources used to produce other goods
  2. labor: human work involved in the production process.
  3. capital: physical tools and equipment involved in the production process

The fourth and probably most important factor is entrepreneurship. An entrepreneur is the person that combines all the other 3 factors of production into a business. Entrepreneurs take the risk of setting up their own business and many times are great innovators that are able to recognize opportunities and take them.

But doing business is not easy and being an entrepreneur is even harder. No matter how much positive energy and great ideas an entrepreneur has, there is chance that he will fail several times. Creative processes are not linear, they work on a trial and error basis and sometimes that also applies to running a new business. But as the great Micheal Jordan said," the important thing is not how many times you fall, but how many times you stand up."

high energy level

6 0
3 years ago
An author just signed a lucrative contract with a publisher that offers to pay her the amount of $500 at the end of year 9 when
solong [7]

Answer:

Ans. The annuity that will be equivalent to the publisher´s advance would be $26.40 per year, for 9 years at 7% interest rate.

Explanation:

Hi, first, let´s bring that $500 to be paid in 9 years to present value, we need to use the following formula.

PresentValue=\frac{FutureValue}{(1+r)^{n} }

Where: r is our discount rate (7%) and n the periods from now when she will receive that $500 amount. This should look like this.

PresentValue=\frac{500}{(1+0.07)^{9} } =271.97

Ok, so the equivalent amount of money today of those $500 in nine years is $271.97, but the author wants $100 today so the remaining amount has to be used to find the equal annual payments to be made in order to be equivalent to re remaining balance ($171.97). We now need to use the following equation.

Present Value=\frac{A((1+r)^{n}-1 )}{r(1+r)^{n} }

And we solve for "A" like this

171.97=\frac{A((1+0.07)^{9}-1 )}{0.07(1+0.07)^{9} }

171.97=\frac{A(0.838459212 )}{0.128692145}

171.97=A(6.515232249)

A=\frac{171.97}{6.515232249} = 26.40

Therefore, the equivalent amount of money of $500 in 9 years is $100 today and $26.40 every year, at the end of the year, for nine years.

Best of luck.

4 0
3 years ago
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