answer.
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
ElenaW [278]
2 years ago
10

David needed money for some unexpected expenses, so he borrowed $3,695.17 from a friend and agreed to repay the loan in five equ

al installments of $950 at the end of each year. The agreement is offering an implied interest rate of .A) 14.85%
B) 9.57%

C) 11.00%

D) 12.98%
Business
2 answers:
Salsk061 [2.6K]2 years ago
5 0

Answer:

5.71% annually and 28.55% for the five years

Explanation:

The total repayment is 950*5 =4750

This shows the total interest as 4750-3695.17=1054.83

the implies 28.55 % of the principal amount

Nataly_w [17]2 years ago
3 0

Answer:

11% is the implied interest.

Explanation:

You might be interested in
The following selected transactions were completed by Capers Company during October of the current year:
Zarrin [17]

Answer:

Date   Accounts title and explanations   Debit$      Credit$

1-Oct   Merchandise inventory                    15458

                  Accounts payable - Sabol imports            15458

3-Oct  Merchandise Inventory                     9850

                   Accounts payable- Saxon Co.                   9650

                   Cash account                                              200

4-Oct   Merchandise Inventory                     13550

                   Accounts payable- Schnee Co.                       13550

6-Oct    Accounts payable -Schnee Co        4350

                    Merchandise inventory                                4350

13-Oct    Accounts payable-Saxon Co          9650  

                      Cash account                                              9457

                       Merchandise inventory                               193

                        (9650*2%)

14-Oct    Accounts payable-Schnee Co        9200  

                      Cash account                                               9016

                       Merchandise inventory                                 184

                       (9200*2%)

19-Oct    Merchandise inventory                    27270

                        Accounts payable - Southmont Co           27270

19-Oct    Merchandise inventory                       375

                        Cash account                                              375

20-Oct    Merchandise inventory                     21400  

                        Accounts payable -Stevens                      21400

30-Oct   Accounts payable-Stevens                 21400

                         Cash account                                             21186

                          Merchandise inventory                             214

                           (21400*1%)  

31-Oct    Accounts payable-Sabol imports      15458  

                      Cash account                                                 15458

31-Oct    Accounts payable -Southmont Co    27270  

                   Cash account                                                    27270

7 0
2 years ago
A monopolist sells 2,000 units for $20 each. The total cost of 2,000 units is $30,000. If the price falls to $19, the number of
leonid [27]

Answer:

Decrease by $1

Explanation:

Given:

Old data:

Q0 = 2,000 units

P0 = $20

Total revenue before change = 2,000 x $20 = $40,000

After change in Price.

Q1 = 2,100 units

P1 = $19

Total revenue After change = 2,100 x $19 = $39,900

Computation of Marginal Revenue:

Marginal Revenue = (P1 - P0) / (Q1 - Q0)

= ($39,900 - $40,000) / (2,100 - 2,000)

= -100 / 100

= $(-1)

Marginal revenue will decrease by $1

8 0
2 years ago
The owner of Marshall Restaurant is disappointed because the restaurant has been averaging 7 comma 500 pizza sales per​ month, b
dybincka [34]

Answer:

\left[\begin{array}{ccccc}$Concept&$Base&6,000&7,500&10,000\\$Sales&6.25&37,500&46,875&62,500\\$Variable&-1.55&-9,300&-11,625&-15,500\\$Fixed&12,000&-12,000&-12,000&-12,000\\$Income&&16,200&23,250&35,000\\$Average per pizza&&2.7&3.1&3.5\\\end{array}\right]

Explanation:

Question elaborate budget for the range of 6,000 // 7,500 and 10,000 units considering the selling price per Pizza is 6.25 dollars.

a) we multiply the sales per unit by each volume sales

b) sale idea but with the variable cost

c) we also subtract the fied cost.

d) This give us the income on each volume.

Finally we also divide by the numbers of unit to determinate the gain per pizza.

4 0
2 years ago
On January 1, Imlay Company purchases manufacturing equipment costing $95,000 that is expected to have a five-year life and an e
ExtremeBDS [4]

Answer:

Option C is correct

Explanation:

Using straight line depreciation method we can calculate the annual depreciation of the machinery, which can be calculated from the following formula:

Straight Line Depreciation = (Cost - Salvage Value) / Useful value

Straight Line Depreciation = ($95000 - $5000) / 5 years life = $18,000

The double entry would be:

Dr Depreciation Expense $18,000

Cr Accumulated Depreciation $18,000

3 0
2 years ago
Alpha Company makes all its sales on account. Accounts receivable payment experience is as follows: Percent paid in the month of
kozerog [31]

Answer:

May's sales that are expected to be noncollectable are $7500.

Explanation:

The total collections from a months's credit sales is expected to be as follows,

35% in the month of sale

54% in the following month

6% in the second month after sale

The remaining is expected to be noncollectable.

The credit sales for a month are equal to 100%.

The percentage of noncollectable sales is = 100 - (35 + 54 + 6)  = 5%

Thus, 5% of each month's sale is expected to be noncollectable.

May's sales that are expected to be noncollectable are,

Noncollectable Sales-May = 150000 * 0.05  =  $7500

4 0
2 years ago
Other questions:
  • SOMEONE HELP ME PLEASE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    10·2 answers
  • During a recession, median income falls by 15%. if the demand for grapes falls by 12%, grapes are a(n) _____ good with an income
    5·1 answer
  • Johnson Electronics makes calculators. Consumer satisfaction is one of the top priorities of the company's management. The compa
    12·1 answer
  • Suppose a country has a consumption tax that is similar to a state sales tax. If its government were to eliminate the consumptio
    5·1 answer
  • Mrs. Smith owns a piece of Florida real estate. Her school board millage rate is 4.5, City rate is 3.8 and County rate are 2.4 m
    10·2 answers
  • _______ These arrays inherently divide and replicate data among multiple physical drives, and increase performance and redundanc
    12·1 answer
  • An import quota is an example of a _________.A. tax on imported goods. B. quantity restriction. C. price floor. D. price ceiling
    7·1 answer
  • his morning, you borrowed $150,000 to buy a house. The mortgage rate is 7.35 percent. The loan is to be repaid in equal monthly
    13·1 answer
  • PROJECT FOCUS: One day, a sophisticated business man walks into the cafe and asks to speak to the owner. He introduces himself a
    14·1 answer
  • Zeffer is a small but growing bottling company that competes with large soft drink heavy-hitters. To set itself apart, Zeffer ha
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!