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Natalka [10]
1 year ago
14

Billy Thornton borrowed $20,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses

a 360-day year. How much interest would Billy have to pay in a 30-day month
Business
1 answer:
Dmitry [639]1 year ago
5 0

Answer:

Interest for a 30 day month = $120.83

Explanation:

<em>Interest rate rate is the price paid by a borrower for the use of money and the return earned by a lender for postponing his consumption in favour of investment. </em>

Interest is computed in two ways; Simple interest and compound interest

Simple interest: This is the interest paid on the principal invested or borrowed. To calculate simple interest, we use the formula below:

Annual Simple interest= Principal × interest Rate (%) × Time.

Monthly simple interest =Principal ×interest Rate (%)× 30/360

                                   = 20,000 × 7.25% × 30/360= 120.833

Interest for a 30 day month = $120.83

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Davidson international has 13,700 shares of stock outstanding at a price per share of $28. the firm has decided to repurchase 50
alexdok [17]

The shareholder equity is equal to:

$28/share * 13 700 shares = $ 383,600

This is the total capital of Davidson International. Now, assuming that there is no additional income since it is not implied in the problem, the total equity does not change. However, the shares become: 13,700 + 500 = 14 200 shares.

Price per share now becomes:

$383 600 / 14 200 shares = $27/share

6 0
2 years ago
If the container store owners/managers were to walk around and personally thank each employee for doing a good job, then this wo
Lelechka [254]
I<span>f the container store owners/managers were to walk around and personally thank each employee for doing a good job, then this would be a motivating factor. This action exhibits a good environment as well for employees to foster as they're performances are acknowledged by their employers. if this goes on, this will inspire many employees to alleviate their status.</span>
8 0
1 year ago
Read 2 more answers
Delta Insurers typically affirms or denies claims within 120 days after it receives proof of loss statements. Which statement is
mamaluj [8]

Answer:

Option A is correct

Explanation:

The 2 Option are:

<em>i. The firm Delta Insurers typically affirms claims within 120 days after it receives proof of loss statements </em>

<em>ii. The firm Delta Insurers typically denies claims within 120 days after it receives proof of loss statements.</em>

<em />

Delta insurance company is a typical insurance company that operates it business in line with the Insurance practice code in its operation country. Failure of perform those duties strictly will lead to revoke of operational license which will incur consequential loss for the Insurance Company.

Delta Insurers insures against peril of Vehicle, Fire, Burglary, Consequential loss, Business Interruption and so on.

The insurer however have its own mode of settling claims as stated in the Policy form. The statement might be stated in there that "<em>we typically affirms claims within 120 days after we receives proof of loss statements". </em>No insurer can states in its policy form that "<em>we typically affirms claims within 120 days after it receives proof of loss statements", t</em>his is against the code of conduct of Insurance business

<em />

7 0
1 year ago
At the end of the day, the cash register tape shows $1,000 in cash sales but the count of cash in the register is $1,035. The pr
creativ13 [48]

Answer:

correct answer is C. Credit to Cash Over and Short for $35

Explanation:

given data

cash sales = $1,000

cash in register = $1,035

solution

we actual cash per the count is  $1,035

Cash account will be debited by the same

and Sale account will be credit to extent

and difference in count of cash and the cash register tape as

difference in count of cash = $1035 - $1000

difference in count of cash = $35

so correct answer is C. Credit to Cash Over and Short for $35

3 0
1 year ago
A dozen eggs cost $0.88 in january 1980 and $2.11 in january 2015.
Lera25 [3.4K]
Initial price = $0.88 (Jan. 1980)
Final price = $2.11 (Jan. 2015)

Change in price = $2.11 - $0.88 = $1.23
Percentage rise in price = 100(1.23/0.88) = 139.8% ≈ 140%
The average yearly rise in price = 139.8/(2015-1980) ≈ 4%

Answer:
Total percent rise in price = 140%
Average yearly rise in price = 4%
6 0
2 years ago
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