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ivann1987 [24]
3 years ago
8

What is "recourse" as it relates to selling receivables?

Business
1 answer:
Inga [223]3 years ago
5 0
The obligation of the seller of the receivables to pay the purchaser in case the debtor fails to pay.
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You are considering moving your money to new bank offering a​ one-year CD that pays an 5 %5% APR with monthly compounding. Your
Gelneren [198K]

Answer:

<u>2.53%</u>

Explanation:

We need to understand what effective annual rate is to solve this question.

Effective Annual Rate is the actual interest earned on an investment due to effect of compounding.

The formula is:

Effective Annual Rate = (1+\frac{i}{n})^n - 1

Where

i is the interest rate given (nominal interest rate)

n is the number of compounding per year

For the old bank,

5% is the interest rate, so i = 5% = 5/100 = 0.05

n is the number of compounding per year, that will be n = 12 since compounding monthly

So, we have:

Effective Annual Rate (1+\frac{0.05}{12})^{12} -1\\=0.051161

For second bank, we have:

i = what we need to find

n = 2 (since semi annual compounding, every 6 months)

So,

Effective Annual Rate = (1+\frac{i}{2})^2 - 1

This should be equal to APR from 1st bank (0.05)

So, we solve for i:

0.05=(1+\frac{i}{2})^2 - 1\\1.05=(1+\frac{i}{2})^2 \\i=0.0253

So, the interest would have to be

0.0253 * 100 = <u>2.53%</u>

8 0
4 years ago
MC Qu. 128 Leeks Company's product has... Leeks Company's product has a contribution margin per unit of $13.57 and a contributio
Ray Of Light [21]

Answer:

The price of the product is $59

Explanation:

Contribution margin is the net of the selling price and variable cost per unit. Contribution margin ratio is the ratio of contribution per unit to selling price per unit. As given below

Contribution margin ratio = Contribution margin per unit / Selling price per unit

23% = $13.57 / Selling price per unit

Selling price per unit = $13.57 / 23% = $59

3 0
3 years ago
A machine originally had an estimated useful life of 6 years, but after 4 complete years, it was decided that the original estim
lianna [129]

Answer:

d. 6 years

Explanation:

Depreciation is the loss of value of an asset over a period of time. The asset has a useful life period after which it is referred to as scrap.

The value of the asset after it's useful life is called the salvage value.

Useful life of an asset is estimated and deductions in its value are made till the useful life is exhausted.

In this scenario the useful life was initially taken to be 6 years.

After 4 years it was realised a mistake wasade and useful life is supposed to be 10 years

Since useful life of the asset remains contstant, the remaining years of useful life is the real estimate of useful life less years already used.

Remaining useful life = 10 - 4 = 6 years

6 0
3 years ago
(50 pts) Which of the following statements concerning price indexes is not accurate?
Mademuasel [1]

<em>Price indexes define the cost of goods in the entire economy at a given point in time.</em>

<em />

A price index is a scale used to measure changes in the levels of prices. This is a percentage scale that can be either based on prices of a single good or an entire market basket. This is only a small-scale index, not representative of an entire economy.

4 0
3 years ago
Read 2 more answers
One reason some manufacturing companies began moving production to China in the early 2000s was due to lower wages that could be
harina [27]

Answer:

Comparative advantage

Explanation:

This concept of economics is comparative advantage that means one country has advantage of producing same product at lower cost than other. In this question China has comparative advantage over USA,

This may be due to different reasons.

1. Population of China is greater than USA, that is why employees are willing to work on low salaries in China as compared to salaries are offered in the US.

2. China is comparatively better in manufacturing industry as of with USA.

8 0
4 years ago
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