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3 years ago

You get a $3,000 loan at 9% interest for 120 days. The lender uses a 365-day year. How

Business

1 answer:

Luda [366]3 years ago

8 0

Answer:

$3,088.80

Explanation:

Note that the loan is meant for 120days , however, the interest rate quoted is on an annual basis, hence, the interest for 120 days is 2.96% ( 9%*120/365).

It is equally important to note that at maturity the loan principal and the interest accrued thus far for 120 days are repayable to the lender as computed below:

total repayment=$3000+($3000*2.96% )

total repayment=$3000+$88.80

total repayment=$3,088.80

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Jeannie plans to deposit $6,000 in a money market sinking fund at the end of each year for the next four years. What is the amou

Mnenie [13.5K]

Answer:

A. The first cash flow of an annuity due is made on the first day of the agreement.

G. The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

Explanation:

The computation is shown below:

As we know that

Future value after 4 years is

= Annual deposit × Cumulative FV factor at 9% for 4 periods of an ordinary annuity

= $6,000 × 4.57313

= $27,439

Therefore the above statements are true and the same is to be considered

Hence, all other statements are incorrect

5 0

3 years ago

Marilyn Simms died with a $200,000 life insurance policy. Her husband, Jack, was the primary beneficiary and their children, Mim

loris [4]

Answer:

a) $200,000 to Jack

Explanation:

Data provided in the question

Life insurance policy amount of Marilyn Simms = $200,000

The primary beneficiary = Jack

The contingent beneficiaries = Their children

Now, the distribution of the policy could be taken by only Jack as he is her husband plus he is also a primary benefit of her life insurance policy,

So, the whole amount i.e $200,000 is distributed to Jack

8 0

3 years ago

Scott Corporation produces a part for use in the production of one of its products. The per-unit costs associated with the annua

denpristay [2]

Answer:

It is cheaper to buy the part. The company will save $5,000.

Explanation:

Giving the following information:

UNitary production cost:

Direct Materials $10.50

Direct labor $24.00

Variable factory overhead $ 5.50

Total avoidable Fixed factory overhead= (12*1,000) - 5,000= 7,000

Larson Company has offered to sell 1,000 units of the same part to Scott Corporation for $42 per unit.

First, we need to calculate the total cost of making the units:

Total cost= (10.5 + 24 + 5.5)*1,000 + 7,000= $47,000

Now, the total cost of buying them:

Buy= 1,000*42= $42,000

It is cheaper to buy the part. The company will save $5,000.

3 0

3 years ago

My answer c not sure

AleksandrR [38]

A is your answer so then there is less supply than there is demand.

8 0

3 years ago

About three hours after he falls asleep, Bobby often sits up in bed screaming incoherently. Hismother tries to awaken him, but w

Alla [95]

Answer:

A. Night Terrors

Explanation:

Night terrors also known as sleep terrors are occurrences similar to nightmares involving intense screaming, intense fear, crying and thrashing while still sleeping. It is also often accompanied with sleep walking and all these while the person is still unconscious or in deep sleep.

The episodes often begin with screams and shouts, followed by sitting up on the bed with eyes wide open, heavy sweats, dilated pupils and heavy breathing among others.

Most times as well, the person who suffers from night terrors would have little or no memory of the event by the next morning.

Night terrors should be reported to medical practitioners if it continues for a long time, happens frequently and the safety of the victim is becoming a concern from aggressive episodes of thrashing and violent behavior.

If Bobby's episodes become more frequent and more violent, then Bobby's mother should report the case to a certified medical practitioner.

6 0

3 years ago