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hoa [83]
2 years ago
6

Hal has just graduated from four years of college. For the last two years, he took out a Stafford loan to pay for his tuition. E

ach loan had a duration of ten years and interest compounded monthly, and Hal will pay each of them back by making monthly payments, starting as he graduates. Hal’s loans are detailed in the table below. Year Loan Amount ($) Interest Rate (%) Subsidized? Junior 4,048 5. 9 N Senior 5,295 7. 6 Y Once all of his loans are paid off, what will Hal’s total lifetime cost be? Round all dollar values to the nearest cent. A. $9,023. 28 b. $8,467. 20 c. $11,498. 40 d. $13,615. 20.
Business
1 answer:
Nonamiya [84]2 years ago
7 0

Answer: The answer is D, $13,615.

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If mega corp. borrows $9,000 and agrees to pay the lender $10,500 in one year, the annual interest rate on this loan is approxim
kap26 [50]
In simple interest, the interest rate is
i=(10500-9000)/9000=16.67%

In compound interest, compounded monthly,
10500=9000(1+i/12)^12
=>
APR=12(10500/9000)^(1/12)-1
=11.155%
(effective interest is still 16.67%)
5 0
2 years ago
One of your fellow investment adviser representatives (iar) at your firm recently came to you and asked for a loan. you couldn't
brilliants [131]

The Uniform Securities Act governs such actions and by performing these actions, the IAR has:

Performed an unethical business practice

Broken his fiduciary duty and created a conflict of interest

The Model Rule on Unethical Business Practices does not allow the loaning or borrowing of a client and an investment advisory representative or IAR because this may constitute a conflict of interest.

4 0
3 years ago
Which of the following is not correct?
kari74 [83]

The correct answer is option B. Frictional unemployment is the result of worker skills not matching the jobs available. This type of unemployment normally occurs as a result of workers and employers not having enough or the proper information when looking for a new job, or looking for a new employee. Sometimes the worker is not being successful in finding the right company that is looking for someone with skills that the person possesses. Or sometimes is the company that believes that they should not hire someone, waiting to fins a better candidate.

Read more on Brainly.com - brainly.com/question/11481076#readmore

5 0
3 years ago
The following is a partial trial balance for the Green Star Corporation as of December 31, 2021:
Vinil7 [7]

Answer and Explanation:

The presentation of the income statement is presented below:

Income statement

Revenues and gains:  

Sales revenue          1,400,000

Add: Interest revenue       35,000

Add: Gain on sale of investment    55,000

Total revenues and gains      1,490,000

Less:

Expenses and losses:  

Cost of goods sold    740,000  

General and administrative expenses 80,000  

Selling expenses   185,000  

Interest expense    45,000  

Total expenses and losses     1,050,000

Income before income tax       440,000

Income tax expense     - 135,000

Net income    305,000

EPS = Net income ÷ Number of common shares

                  ($305,000 ÷ 100,000)  3.05

2.

Income statement

Sales            1,400,000

Less: Cost of goods sold - $740,000

Gross profit      660,000

Less:

Operating expenses:  

General and administrative expenses $80,000  

Selling expenses $185,000  

Total operating expenses  -$265,000

Operating income $395,000

Other incomes and expenses  

Interest revenue  $35,000  

Gain on sale of investment $55,000  

Interest expense  -$45,000  

Total other income, net  $45,000

Less: Income before income tax $440,000

Income tax expense -$135,000

Net income $305,000

EPS = Net income ÷ Number of common shares

(305,000 ÷ 100,000)  3.05

7 0
3 years ago
True or False, The Occupational Outlook Handbook is a reference book designed to help determine personality types?
Galina-37 [17]
It is FALSE.

A newspaper of the United States Department of Labor’s Bureau which is Occupational Outlook Handbook contains data and statistics about the types of work, working environments, training and education, incomes and job viewpoint for hundreds of different occupations in the United States
6 0
3 years ago
Read 2 more answers
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