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Oliga [24]
2 years ago
5

Paul promises to pay John $1,904 in a year if John gives him $1,498 today. What interest rate is Paul paying?

Business
1 answer:
Ludmilka [50]2 years ago
3 0

Answer:

27.10%

Explanation:

Data provided in the question:

Principle amount = $1,498

Amount returned i.e the future value = $1,904

Time, n = 1 year

Now,

Interest paid = Amount returned - Principle amount

= $1,904 - $1,498

= $406

Using simple interest formula

Interest = Principle × Rate × Time

or

$406 = $1,498 × Rate × 1

or

Rate = 0.2710 or

= 0.2710 × 100%

= 27.10%

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Bramble company showed the following balances at the end of its first year: cash 3,980, prepaid insurance 7,040, account receiva
s344n2d4d5 [400]

notes payable 5,960,

owner’s capital 1,910,

owner’s dividends 1,090,

revenues 32,200,


total credits balance

5,960+1,910+1,090+32,200

=41,160...answer


Hope it helps!

6 0
2 years ago
Lly wants to maximize her benefit of consuming apples and bananas, given her fixed budget of $10 for these two fruits. The price
Xelga [282]

Answer:

C. solve the buyer's problem for her multiple times and find the optimal number of bananas, when price of a bananas is at a different level each time

Explanation:

7 0
2 years ago
1. Justin is a stock clerk at the local grocery store. Justin does only what he is told to do, no
MrRa [10]

Answer:

Check below for the explanations

Explanation:

1) No, Justin does not have a good attitude to work. The characteristic of a good employee is the ability to make sound, effective and critical decisions. There are situations that require workers to use their discretion, Justin is acting like a robot and is failing in this regard.

2) I would let him realize the importance of team work in an organization. For an organization to develop, the culture of team work and not individuality must be encouraged. I would advise him to let go of his high - mindedness and let us work as a team.

3) It was not right to argue with his co-worker most especially when he was wrong. Justin could have verified the information given to him by his co-worker and put things in order. Nobody is above mistake, the ability to identify them and  listen to corrections makes one a good employee.

4) Justin was not correct. He lacks discipline for broadcasting the personal discussions between two people in an organization, more importantly when it is not malicious to the growth of the organization. That is intrusion of privacy.

5) The supervisor was probably rebuking Justin for his bad attitudes to work. His attitude of infidelity, inability to keep secret and insubordination.

She can also issue him a query for this acts

If I was one of Justin's co-workers, I would advise him on the proper work ethics and how to apply them. I would also advise him for an attitudinal change.

8 0
2 years ago
In the current year, Borden Corporation had sales of $2,000,000 and cost of goods sold of $1,200,000. Borden expects returns in
HACTEHA [7]

Answer:

(D) Dr Sales Returns and Allowances 150,000

Cr Sales Refund Payable 150,000

Dr Inventory Returns Estimated 90,000

Cr Cost of goods sold 90,000

Explanation:

Based on the information given The adjusting Journal entry or entries to record the expected sales returns is (are):

Dr Sales Returns and Allowances 150,000

Cr Sales Refund Payable 150,000

[(8%*2,000,000)-10,000]

Dr Inventory Returns Estimated 90,000

Cr Cost of goods sold 90,000

[(8%*1,200,000-6,000]

3 0
2 years ago
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