1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
7nadin3 [17]
3 years ago
6

Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations. Enter your answers as

a percent rounded to 2 decimal places, e.g., 32.16.): Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) 9.3% Quarterly % 18.3 Monthly 14.3 Daily 11.3 Infinite
Business
1 answer:
Ierofanga [76]3 years ago
7 0

Answer and Explanation:

The formula to calculate the effective annual rates under the following scenarios is as follows:

As we know that

Effective annual rate = (1 + Annual percentage rate ÷  compounding period)^compounding period - 1

1. For Quartely

EAR = (1 + 0.093 ÷ 4)^4 - 1

= 9.63%

2. For monthly

EAR = (1 + 0.183 ÷ 12)^12 - 1

= 19.92%

3. For daily

EAR  = (1 + 0.143 ÷ 365)^365 - 1

= 15.37%

4. For daily

EAR = (e)^APR - 1

Here

e = 2.71828

EAR = (2.71828)^0.113 - 1

= 11.96%

You might be interested in
According to the U.S. Department of Labor Statistics, _____ is the industry earning the highest average annual wage in 2009.
Alchen [17]

Answer:

B. federal government

4 0
3 years ago
Read 2 more answers
On November 30, the company received an invoice from the electric company for $200. The company will pay the invoice in December
harkovskaia [24]

Answer:

Utility expense Dr.                      $200

  Accounts payable Cr.                $200

(To record the entry for electric expense)

Explanation:

Given the amount of the invoice = $200

The expenses like Electricity expenses come under utility expenses so the incurred electricity expense will show that the utility expenses are debited and account payable is credited. Here the account payable is credited because the is not paid.

Thus, below is the entry as on 30th November.

Utility expense Dr.  $200

  Accounts payable Cr.    $200

(To record the entry for electric expense)

8 0
3 years ago
John bought 1,700 shares of Intel stock on October 18, 2015, for $44 per share plus a $750 commission he paid to his broker. On
Dvinal [7]

Answer:

Explanation:

A. John’s basis in the 1,000 shares of Intel stock is $45,750.

is the purchase price of $30,000 (i.e., 44 × $1,000) plus the $750 commission paid to the broker.

b.On the sale, John realizes $62500. This is the sales price of $63500 (i.e., 1,000 × $63.50)minus the transaction fee of $1,000.

c.John’s gain on the sale is $16,750 which is the amount realized minus his adjusted basis (i.e., $62500 – 45,750). The gain is a long-term capital gain because John held the stock for more than a year before selling

4 0
3 years ago
Stormy Corporation has two service departments (S1 and S2) and two production departments (P1 and P2), and uses the step-down me
Marianna [84]

Answer:

E. Both S1's cost should be allocated (i.e., spread) over 140 employees and S2 should allocate a total of $390,000 to P1 and P2.

Explanation:

As S1 gives more service, So it would be allocated first

Here

S1 cost of $280,000 would be allocated to S2 P1 and P2 based on number  of employees

The total employees in S2 P1 and P2 is

= 20 + 50 + 70

= 140

And, the Cost to be allocated per employee is

= $280,000 ÷ 140

= $2,000

Now cost received by S2 is

= $2,000 × 20

= $40000

And, the cost received by P1 is

= $2,000 × 50

= $100,000

And, the cost received by P2 is

= $2,000 × $70

= $140,000

Now

S2 contains total cost of

= $350,000 + $40,000 (from S1)

= $390,000

So this would be allocated to P1 and P2 as S1 has already allocated  

Hence, option D is correct

3 0
3 years ago
On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, a
umka2103 [35]

Answer:

Net Income   $66100

Explanation:

<u>Racine Furnishings Company </u>

<u>Multi Step Income Statement </u>

<u>For the Year Ended March 31, 2019</u>

Sales                                                   6,126,850

Cost of Merchandise Sold                3,965,850

Gross Profit                                        2161000        

Less Operating Expenses

Depreciation                                  $747,950

Supplies Expense ( 87000- 20650)  66350

Salaries Expense                                7,700

Selling Expenses                           717,650

Administrative Expenses                545,700

Operating Income                           75,650

Other Expenses

Interest Expense                                 9,550

Net Income                                       $66100

From the sales cost of merchandise sold is subtracted to get the gross profit.  The operating expenses are subtracted from the gross profit to get the operating income. Other expenses such as interest expense is subtracted to get the net income.

7 0
3 years ago
Other questions:
  • Campbell's soup used several advertising campaigns that stressed the benefits of soup in general. for example, one tagline used
    12·1 answer
  • money owed to the hotel for services already performec is called (a)accounts payable(b)accounts receivable(c)unposted transactio
    9·1 answer
  • If a firm averages $2,000 in daily credit sales and offers 60-day terms, the average accounts receivable balance will be $120,00
    8·1 answer
  • If you are from a family with poor money skills , chances are you will have poor money skills too. True or false?
    15·2 answers
  • What is it called when banks record which account gives up money and which account receives money when a customer writes a check
    15·1 answer
  • Hugh is in charge of creating the value proposition for a new start-up company. In order for him to create an effective value pr
    6·1 answer
  • Which of the following directly generates revenue for a business?
    10·2 answers
  • Ly Company disposed of two different assets.
    13·1 answer
  • Every business begins with a(n)<br> O a. customer.<br> b. profit.<br> O c. idea.<br> O d. inverton.
    14·1 answer
  • Factors of production examples ​
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!