Given Principal: $14,000, 12%, 240 days Partial payments: On 100th day, $6,400 On 180th day, $3,700 a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Total interest cost: _____
b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) On 100th day balance _____
On 180th day Balance after the payment $ _____
c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Final payment $_____
Answers
Total interest cost: $316.66, On the 100th day balance:$7,386.67, On the 180th day balance after the payment:$3,686.67 and Final payment- $3,748.67.
a. To calculate the total interest cost using the U.S. Rule, we need to find the interest accrued on each partial payment and sum them up.
Interest on the first partial payment:
$6,400 * 0.12 * (100/360) = $213.33
Interest on the second partial payment:
$3,700 * 0.12 * (80/360) = $103.33
Total interest cost: $213.33 + $103.33 = $316.66
b. To calculate the balances using the U.S. Rule, we start with the principal amount and subtract the partial payments along with the accrued interest.
On the 100th day balance:
$14,000 - $6,400 - $213.33 = $7,386.67
On the 180th day balance after the payment:
$7,386.67 - $3,700 = $3,686.67
c. To calculate the final payment using the U.S. Rule, we start with the remaining balance and add the accrued interest.
Final payment:
$3,686.67 + ($3,686.67 * 0.12 * (60/360)) = $3,748.67
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Related Questions
An investment in a machine costs $815,000 and net cash inflows of $X are expected for the next 7 years. The applicable discount rate is 8%. If the project is accepted, what is the minimum that X can be?
A) $141,822
B) $133,190
C) $144,524
D) $130,465
E) $156,539
Answers
The present value of an annuity of X that is minimum can be $133,190. The correct option is B).
To find the minimum value of X, we need to use the net present value (NPV) formula and set it equal to the cost of the investment, which is $815,000.
The formula for NPV is:
NPV = ∑(net cash inflow / (1 + discount rate)^t) - initial investment
Where: ∑ = sum over all the years (from year 1 to year 7), t = the year (1 for the first year, 2 for the second year, and so on)
We know that the initial investment is $815,000 and the discount rate is 8%. So, the NPV formula becomes:
$815,000 = ∑(X / (1 + 0.08)^t) - $815,000
Simplifying the formula, we get:
$1,630,000 = ∑(X / 1.08^t)
Now, we need to solve for X by finding the value that satisfies the equation. We can do this by using a financial calculator or a spreadsheet program like Excel.
Using Excel, we can use the following formula to calculate the sum of the present values of the cash inflows:
=PV(0.08,7,-X)
This formula calculates the present value of an annuity of X dollars per year for 7 years at a discount rate of 8%. We use a negative sign for X because it represents cash outflows (i.e., the investment).
Solving for X, we get:
X = -$133,190.10
Note that the negative sign indicates that the cash flows are inflows, not outflows.
Therefore, the minimum value of X that would make the project worthwhile is $133,190.10, which is option B).
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Ron and Jim are making sandwiches for a party. Ron makes 2 times as many sandwiches as Jim. Together they make a total of 42 sandwiches
Wich equation can be solved to find j the number of sandwiches jim makes.
Asking for little cousin
Answers
Answer:
42÷3=14
Explanation:
if jim makes 14 sandwiches then Ron makes 28 sandwiches
14+28=42
In two paragraphs, What product or service will your company provide? What need of the customer will it fill? What were some things you noticed about this episode of Shark Tank? Go in-depth. This is a good example of how start up companies have to pitch their ideas to investors.
Answers
We can actually see here that the service that my company will provide is vehicle hiring service. The need of the customers that it will fulfill is the ability to hire vehicles on the go seamlessly.
What is a company?A company is actually known to be an establishment that is known to be a producer of a particular product or service for their targeted customers. Companies are known to have products or services they render to their customers. These products and services are known to be purchased by their target market.
We see here that for my company, our services is to provide customers with available vehicles to hire/charter on the go.
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all four areas of social responsibility for firms (economic, legal, ethical, and discretionary) are of equal importance in a firm's overall level of social responsibility.
Answers
A company's overall level of social responsibility depends on all four dimensions of corporate social responsibility: economic, legal, ethical, and discretionary. This statement is true.
Corporate social responsibility, or CSR, is a business strategy that takes into account how an organization affects society, its workforce, and other stakeholders. CSR is used to reduce harm, conduct ethical business, be accountable along the entire global supply chain, engage in philanthropy, and develop a self-directed human resource management system.
Throughout the 1950s and 1960s, social activist organizations (as well as others) promoted corporate social responsibility. The message to be socially and environmentally conscious, however, didn't become crystal evident until the 1970s.
Carroll's methodology establishes consistency in an area lacking a precise, predetermined definition. However, since this model was created in 1991, it is no longer relevant in the current corporate climate.
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Correct question:
All four areas of social responsibility for companies (economic, legal, ethical, and discretionary) are equally important to a company's overall level of social responsibility. True or false.
1; Choose a business or an industry that is considered as a perfect market and explain which characteristics of a perfect market are not met by this business or industry.
Answers
Answer:
hey what kind of watch is that in your profile pic
Help this is super confusing
Answers
Answer: Reasons
Explanation: Crystals are collected for jewelry, sugar, salt, computer chips. So if it shows you all those examples it would be collected for many reasons. I hope this helped!
Concern for the environment among consumers causes consumers to substitute away from traditional autos to electric-powered autos.
Equilibrium quantity: Increases / Decreases
Equilibrium price: Increases / Decreases
Answers
Answer:
the equilibrium price and quantity of traditional autos decreases
the equilibrium price and quantity of electric cars increases
Explanation:
Due to the decrease in demand for traditional autos, there would be a leftward shift of the demand curve for traditional autos. As a result, equilibrium price and quantity would fall.
Due to the increase in demand for electric-powered autos, there would be a rightward shift of the demand curve for traditional autos. As a result, equilibrium price and quantity would increase.
Please check the attached images for graphical illustrations
Suppose Pepsi-Cola which includes Mount dew and several other sodas purchase Coca-Cola and cokes families of sodas to form one large metal company what do you believe would happen to the price of sodas in the United States
Answers
Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called Group of answer choices auditing. economics. finance. accounting.
Answers
Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting.
Accounting is a fundamental process in business and financial management. It involves systematically recording financial transactions, classifying them into appropriate categories, and summarizing the information to create financial statements such as the income statement, balance sheet, and cash flow statement. These financial statements provide a snapshot of a company's financial performance, position, and cash flows, enabling decision-makers to analyze and make informed decisions about the organization's operations, investments, and financial strategies.
While auditing, economics, and finance are related disciplines, each has its own distinct focus. Auditing involves examining and evaluating financial records and statements to ensure accuracy, compliance, and reliability. Economics studies the production, distribution, and consumption of goods and services within an economy. Finance, on the other hand, focuses on managing financial resources, investments, and the financial aspects of decision making. However, accounting serves as the foundation for providing the necessary financial information in these areas.
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The change in total variable cost which accompanies one extra unit of output is:.
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The change in total variable cost that accompanies one extra unit of output is known as marginal cost. Marginal cost is an important concept in economics and is used to determine the optimal level of production for a firm.
It is calculated by taking the change in total variable cost divided by the change in output. As a firm produces more units, the marginal cost will typically increase due to diminishing returns on inputs. Understanding marginal costs is important for firms in order to maximize profits and make informed production decisions.
The change in total variable cost that accompanies one extra unit of output is known as marginal cost. The marginal cost represents the additional cost incurred when producing one more unit of output. It can be calculated by taking the change in total variable cost and dividing it by the change in output.
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Trinity Ltd. wants to obtain debt financing to fund its expansion. What are the different sources from which it can raise this fund?
A. common stock and commercial banks
B. common stock and insurance companies
C. stock brokerage firms and insurance companies
D. preferred stock and stock brokerage firms
Answers
Answer:
The correct answer is C.) Stock Brokerage Firms and Insurance Companies
Explanation:
Hope this helps :)
all of these are ways to generate revenue using the freemium model except one: sale of virtual goods
Answers
The statement is incorrect. The sale of virtual goods is one of the ways to generate revenue using the freemium model.
What is the freemium model?The freemium model is a business model that offers a basic version of a product or service for free while charging a premium for advanced or additional features. The word "freemium" is a combination of "free" and "premium." The idea behind the freemium model is to give users a taste of what a product or service offers, in the hopes that they will be willing to pay for additional or premium features.
According to the given informationThe statement is incorrect. The sale of virtual goods is one of the ways to generate revenue using the freemium model. In the freemium model, a basic version of a product or service is offered for free, while premium or advanced features are available for a fee. One of the ways that companies generate revenue through the freemium model is by selling virtual goods or premium content within a free app or game. These virtual goods can include items such as virtual currency, power-ups, or special features, which users can purchase within the app or game to enhance their experience. Other ways to generate revenue using the freemium model include advertising, subscription fees for premium content or features, and selling physical goods related to the free product or service.
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Can you be wise and intelligent at the same time .
Answers
Answer:
yes :)
Explanation:
wisdom comes from experience intelligence doesn't
Answer:
yes of course .................
If you do not have a Social Security number, you can apply for one.
Please select the best answer from the choices provided
ОТ
OF
Answers
Answer:
Yes.
Explanation:
Go to the DMV, and ask to get a social and fill out all the paper work.
Answer:
true
Explanation:
Explain what is meant by the business entity concept?
Answers
Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional questions. Online Content: Site 1 According to this site, what are different types of schools one can consider, when looking into schools that may have programs that match their interests? (Site 1)
Answers
There is a veriety of different schools one can look into, to find programs to focus on a certain subject. There are public schools, that is a broad range of subjects, then there are private schools, that supposable have the top learning, but you can also choose one to fit your interests. There is also charter schools, that is a bit of a mix between public and private schools, they also may tailor to certain interests, or subjects.
gave me 100 on ed 2021
hussain after doing his graduation has decided to run a retail shop as a source of livelihood. ii. He procures the goods from the wholesalers according to the consumer's demand and maintains a regular supply of goods to his customers. [5] TGIS-Raipur 4 / 5 iii. Customers are well satisfied with his services due to which his sales turnover is very high and he is earning a good return on his capital employed. iv. Seeing his Successful business, two other retailers have also opened their shops in the same area giving him tough competition reducing his market share and margin of profits. But Rohit knows, in spite of his best efforts put into the business, there is always the possibility of inadequate profits or losses. a. Identify the economic activity Rohit is engaged in. b. Enlist the features of identified economic activity with reference to the underlined words in each sentence given above.
Answers
A) Business is an economic activity.
B) features are profit earning- as it is essential for survival growth and expansion of business
Dealings in goods and services on a regular basis - and not merely one single transaction of sale or purchase.
The four major economic activities are resource management, production of goods and services, distribution of goods and services, and consumption of goods and services.
Agriculture, fisheries, mining, and forestry. Manufacture of finished products. Manufacture of technology, consumer goods, furniture, vehicles, and clothing. The provision of intangibles is commonly referred to as a service.
Economic activity is the activity by which people provide, produce, purchase or sell goods and services to meet their daily needs. Economic activity includes all activities related to the manufacture, sale, or use of products or services.
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Do you think I would be a successful you-tuber?
Answers
Answer:
yes !! im also into becoming one as well ! it takes a while but its worth it, keep your hopes up but make sure you have another option just incase it might not work out right.
Explanation: goodluck <3
Follow = Multiple thanks
Answers
Welcome welcome welcome
what is tourism ? Give some examples of the profession related to atourism
Answers
Explanation:
Tourism is travel for pleasure or business; also the theory and practice of touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tours.
Profession telated to tourism
1) Travel Agent. Travel Agents research, plan, and book trips for individuals and groups. ...
2) Hotel Manager. ...
3) Spa Manager. ...
4) Tour Operator. ...
5) Event & Conference Organiser. ...
6) Tour Guide. ...
7) Executive Chef. ...
8) Sommelier.
MARK AS BRAINLIST IF IT IS USEFUL
Answer:
Tourism comprises the activities of persons travelling to and staying in places outside their usual environment.
Examples of professions that are related to tourism are: Travel agent, hotel manager, SPA Manager, tour operator, tour guide, etc.
Two-thirds of a number is two more than one-half of another number. The sum of the number is 129. Find the numbers.
Answers
Answer: 57 ; 72
Explanation:
Given information
2/3 of a number is 2 more than (1/2) of another number
Sum = 129
Set variables
Let x be the first number
Let y be the other number
Set system of equations
\(1)~\dfrac{2}{3} x=\dfrac{1}{2} y+2\)
\(2)~x + y=129\)
Eliminate fractions in the 1) equation
\(\dfrac{2}{3} x\times6=\dfrac{1}{2} y\times6+2\times6\)
\(4x=3y+12\)
Move x and y onto the same side
\(4x-3y=12\)
Current System
\(1)~4x-3y=12\)
\(2)~x + y=129\)
Multiply 3 on both sides in 2) equation
\(x\times3 + y\times3=129\times3\)
\(3x+3y=387\)
Current System
\(1)~4x-3y=12\)
\(2)~3x+3y=387\)
Add 1) equation and 2) equation together
\((4x - 3y)+(3x+3y)=(12)+(387)\)
Expand parenthesis and combine like terms
\(4x - 3y + 3x + 3y = 12 + 387\)
\(4x + 3x - 3y + 3y=399\)
\(7x=399\)
Divide 7 on both sides
\(7x\div7=399\div7\)
\(\Large\boxed{x=57}\)
Substitute the x value into one of the equations to find the y value
x + y = 129
(57) + y = 129
y = 129 - 57
\(\Large\boxed{y=72}\)
Hope this helps!! :)
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The purpose of charging different prices to different groups of customers is to:.
Answers
The purpose of charging different prices to different groups of customers is to earn maximum profits.
What is price discrimination?Price discrimination is when the same product is sold at different prices to customers in different markets.
Types of price discrimination1. First degree price discrimination : here sellers charge each consumer at their willingness to pay in order to eliminate consumer surplus.
2. Second degree price discrimination : here firms offer different prices depending on the quantity purchased. e.g. giving discounts for bulk purchases.
3. Third degree price discrimination : firms charge different prices to different groups of customers. e.g. having a certain price for senior citizens, students.
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The couple will be financing the new vehicle. The dealership offers a loan for the $30 000 vehicle with the term of 5 years at 3.99% per year compounded monthly Determine the monthly payment for the five-year term and calculate the total interest paid on the loan Use the annuity formulas and calculate the monthly car payment by hand. (Rubric 1 Calculato the total cost of purchasing the new vehicle. (Rubric 1) Calculate the total interest paid on the loan (Rubric 1) Explain why the couple might want to consider weekly payments instead of monthly payments (Rubric 2)
Answers
It's important to ensure that the couple can afford the weekly payments and that there are no additional fees for making more frequent payments.
The monthly payment for the five-year term can be calculated using the annuity formulas. The formula is:
PMT = (PV x r) / (1 - (1 + r)^(-n))
Where PMT is the monthly payment, PV is the present value of the loan, r is the monthly interest rate, and n is the total number of payments (in this case, 60 months).
Using the given values, we get:
PMT = (30,000 x 0.0399/12) / (1 - (1 + 0.0399/12)^(-60)) = $555.54 per month.
The total cost of purchasing the new vehicle can be calculated by multiplying the monthly payment by the total number of payments (60):
Total cost = PMT x n = $555.54 x 60 = $33,332.40.
The total interest paid on the loan can be calculated by subtracting the principal amount (30,000) from the total cost:
Total interest = Total cost - PV = $33,332.40 - $30,000 = $3,332.40.
The couple might want to consider weekly payments instead of monthly payments because it can help them pay off the loan faster and reduce the amount of interest paid. Since there are 52 weeks in a year, making weekly payments means that there will be 52 payments in a year instead of 12. This means that the couple will make more payments in a year, which will reduce the loan's principal amount faster and save them some interest costs. Additionally, some lenders offer a lower interest rate for weekly payments, which can further reduce the interest paid.
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Which describes one of the ways that culture influences consumer behavior?
1)Many cultures promote the belief that hard work is an end in itself.
2)Cultures produce values and beliefs that differ from one person to the next.
3)People with strong cultural traditions are more likely to make rational choices. 4)Traditions and holidays often involve specific foods or gifts.
Answers
The study of people, groups, or organizations and all the behaviors connected to the acquisition, consumption, and disposal of products and services is known as consumer behavior.
What is the meaning of consumer behavior?Consumer behavior is the study of persons, groups, especially organizations, and all behaviors related to the purchase, use, and disposal of goods and services. Consumer behavior refers to how a person's feelings, attitudes, and preferences influence their purchasing decisions.
Consumer behavior can be broken down into four different categories: complex purchasing, dissonance reduction, variety seeking, and repetitive purchasing. The kind of product each consumer needs, their level of engagement, and the variations between companies all influence the many types of consumer behavior.
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The worst economic time of the last century was during_____.
A.) The Great Recession
B.) The Great Depression
C.) The Industrial Revolution
(B. is wrong, I took the test)
Answers
Answer:
A. The Great Recession
Explanation:
I hope this helped
The recording of adjusting entries is supported by the a. cash-basis of accounting. b. matching concept. c. accuracy concept. d. cost concept.
Answers
The recording of adjusting entries is supported by the B. matching concept.
What is the matching concept ?The matching concept is an accounting principle that requires expenses to be recognized in the same accounting period as the related revenue. Adjusting entries are made at the end of an accounting period to ensure that the matching principle is followed.
These entries adjust the accounts to accurately reflect the revenues and expenses for the period, and to ensure that the financial statements are accurate and complete. Adjusting entries are made regardless of whether a company uses the cash basis or accrual basis of accounting, as they are necessary to ensure the accuracy of the financial statements.
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In the myers-briggs framework, elena is isfj. what would be the best job fit for her?
Answers
An accountant will be the best job fit for her.
What is the role of an accountant?Despite the fact that an accountant's day-to-day duties will vary based on their position and employer, some of their most usual jobs and obligations include:
ensuring that all financial records are correct and adhere to all relevant laws and regulations.
important financial reports and maintaining them.
ensuring that taxes are paid correctly and on time, as well as producing tax returns.
To identify best practices, identify issues and develop solutions, and support firms in operating efficiently, financial processes are evaluated.
offering suggestions for optimizing profit, boosting sales, and cutting costs.
making forecasts and risk assessment evaluations.
Law also mandates that accountants conduct themselves honestly and without negligence. Therefore, they are also in charge of ensuring that their customers' Financial documents adhere to all applicable laws and regulations.
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Note that common skills are listed toward the top and less common skills are listed toward the bottom. According to O*NET, what are some common skills needed by Lawyers? Select four options.
installation
active listening
speaking
critical thinking
reading comprehension
equipment maintenance
Answers
The common skills needed by lawyers are active listening, speaking, critical thinking and reading comprehension.
The skills can be noted as -
Active Listening - To completely comprehend their viewpoints and obtain all pertinent facts, attorneys need to listen intently to their clients, witnesses, and other parties involved in a case.Speaking - Lawyers need to be able to communicate clearly both orally and in writing with their clients, juries, judges, and other lawyers.Critical Thinking - Lawyers must be able to evaluate intricate legal issues and create plans for resolving conflicts and attaining their clients' objectives.Reading comprehension - Complex legal papers, court rulings, and other important items must be read and understood by lawyers.Read more about lawyers on:
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Whoever says I WIN first gets a brainliest
Answers
Answer:
I WIN
udyfjctdkbhdyghdgvhfhv
Answer:
i win
Explanation:
:))))
The research and development team of BB Beverages has discovered that, during the testing process, one of their highly profitable new beverages contains ingredients that may cause liver damage in humans if consumed regularly over time. Additionally, the team also acknowledged that the plant that manufactures this beverage draws healthy groundwater which could cause a water shortage in areas surrounding the plant. Based on these findings, management has halted its production of this beverage until a solution can be found that does not adversely affect its consumers and the environment. Given this decision, it is evident that BB Beverages embraces a ______ orientation.
Answers
Answer: Societal Marketing
Explanation:
Based on the information given in the question, we can deduce that BB Beverages embraces a societal marketing orientation.
Societal marketing orientation occurs when the marketing decisions that are made by companies benefutbthe society as a whole and that the satisfaction of their wants isn't at the detriment of the society.
This is shown when the activities of the company can being about a water shortage in areas surrounding the plant which led to the company stopping production.