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Ne4ueva [31]
2 years ago
6

One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $500 per

month. You will charge 1.55 percent per month interest on the overdue balance. If the current balance is $14,500, how long will it take for the account to be paid off?
Business
1 answer:
inessss [21]2 years ago
7 0

Answer:

Here we need to find the length of an annuity. We know the interest rate, the PV, and the payments. Using the PVA equation:

PVA =C({1 – [1/(1 +r)t]} /r)

$14,500 = $500{[1 – (1/1.0155)t] / 0.0155}

Now we solve for t:

1/1.0155t = 1 − {[($14,500)/($500)](0.0155)}

1/1.0155t= 0.5505

1.0155t= 1/(0.5505) = 1.817

t = ln 1.817 / ln 1.0155 = 38.83 months

<u>Account will be paid off in 38.83 months.</u>

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Vertical accountability refers to the ability of _________.
Wewaii [24]

Answer:

Vertical accountability refers to the ability of

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4 0
2 years ago
A company has an ending accounts receivable balance of $900,000 and estimates that uncollectible accounts will be 2% of its acco
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Answer:

$20,000

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2 years ago
To increase productivity, your project team has completed the task to develop potential ideas for approval by senior management.
oksian1 [2.3K]

Answer and Explanation:

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7 0
2 years ago
Louis owns a stock that has an average geometric return of10.50 percent and an average arithmetic return of 11.00 percent over t
RideAnS [48]

Answer:

Average annual rate of return should Louis expect to earn over the next four years is 10.7%

Explanation:

The formula we are going o use is:

Expected\ Return=\{(\frac{R-1}{N-1})*i_{g}\}+\{(\frac{N-R}{N-1})*i_{a}\}

Where:

R is the number of years over which Louis expect to earn.

N is the number of years of average arithmetic return.

i_{g} is the average geometric return=10.50%=0.105.

i_{a} is the average arithmetic return =11%=0.11.

Solution:

Expected\ Return=\{(\frac{R-1}{N-1})*i_{g}\}+\{(\frac{N-R}{N-1})*i_{a}\}\\Expected\ Return=\{(\frac{4-1}{6-1})*0.105\}+\{(\frac{6-4}{6-1})*0.11\}\\Expected\ Return=0.107

Average annual rate of return should Louis expect to earn over the next four years is 10.7%

4 0
2 years ago
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