Answer:
The effective annual rate on loan would be 8.24%
Explanation:
Formula for Effective annual rate ( EAR ) -
(1 + APR / Number of compounding periods in a year) ^ (Number of compounding periods in a year) - 1
where, the APR IS 8% ,
Number of compounding periods - 4 quarters
So now putting these values in the formula -
(1+8% / 4) ^4 - 1
= (1 + 2%) ^4 -1
= (1 + .02)^4 -1
= (1.02)^4 - 1
= 1.08243216 - 1
= .08243216
Now multiplying this by 100 to make it in percentage
= 8.24% ( approximately )
Answer:
C). Professional Conduct
Explanation:
Ethical behavior is characterized as the obedience of moral principles like fairness, honesty, and equity. Such behavior recognizes the individual diversity and offers equal rights and respect to the dignity and integrity of every individual. It is one of <u><em>the significant aspects of 'professional conduct' which promotes professionalism, healthy work relationships, mutual understanding, and maximize the output</em></u>. Thus, <u>option C</u> is the correct answer.
Answer:
PV= $1,311.17
Explanation:
Giving the following information:
Future Value (FV)= $5,000
Number of periods (n)= 25 years
Interest rate (i)= 5.5% compounded annually
T<u>o calculate the present value (PV), we need to use the following formula:</u>
<u></u>
PV= FV / (1+i)^n
PV= 5,000 / 1.055^25
PV= $1,311.17
Answer:
To record the initial purchase, the entries required in Joy's Accessories are:
Debit Purchases Account with 69x$11 - $759
Credit Supplier's Account (Accounts Payable) - $759
Explanation:
The initial purchase is recorded as it was made without taking into account activities that happened after.
Once value had been received, it is recognized immediately. When 9 necklaces are returned before payment, then the entries above would be reduced by 9 x $11 or $99 through Purchases Return Account.
If payment is made within 10 days, Joy's Accessories will be able to take advantage of the 3% cash discount offered by the supplier and then pays the net value. And subsequently, this will be recognized in the books.