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olga55 [171]
3 years ago
11

Karim Corp. requires a minimum $8,600 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthl

y). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $9,000, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.
Mathematics
1 answer:
Oxana [17]3 years ago
8 0

Answer:

Step-by-step explanation:

Karim Corp. requires a minimum $8,600 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $9,000, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments July $ 24,600 28,900 August $32,600 30,600 September $ 40,600 32,600 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) KARIM CORP. Cash Budget For July, August, and September July August $ 9,000 September Beginning cash balance Total cash available Preliminary cash balance Ending cash balance Loan balance $ 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month

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MAVERICK [17]
Hey there!

We'll define x as the amount of minutes for a call.

The monthly fee is the initial value, while the cost per call is te constant. The cost per call is the coefficient of x because you're multiplying the cost/call times the number of calls.

Now, we'll look at the first company, that has no monthly fee. However, it has 14 cents/minute, so we have:

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