Sue will pay back $507.20 in interest expense.
Explanation:
The formula for calculating simple interest is:
SI = P x r x t ÷ 100
- P = Principal
- r = Rate of Interest
- t = Term of the loan/deposit in years
In the given problem,
- Sue Gastineau borrowed $17,000 from Regions Bank so, P = $17000
- Sue Gastineau borrowed $17,000 from Regions Bank at a rate of 5.5%, so r = 5.5 %
- Number of days of the loan = March 5 to September 19
- Sue borrowed $17,000 from Regions Bank for the period of = 198 days, So t = 198 / 365
Simple Interest = (17000 * (5.5/100) * (198/365))
Simple Interest = (17000 * (0.055) * (0.5424657534246575))
Simple Interest = (17000 * (0.055) * (0.5424657534246575))
Simple Interest = $507.20
Try making discount to 5% they will have to pay just a little more for what they are buying. Try moving the payment to 822,000 so you can save the 441 dollars.
Answer:
Cost structure:
![\left[\begin{array}{ccc}&$greenback&$one-Mart\\$sales&480,000&480,000\\$variable cost&288,000&144,000\\$contribtuion&192,000&336,000\\$fixed&100,800&244,800\\$operating&91,200&91,200\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccc%7D%26%24greenback%26%24one-Mart%5C%5C%24sales%26480%2C000%26480%2C000%5C%5C%24variable%20cost%26288%2C000%26144%2C000%5C%5C%24contribtuion%26192%2C000%26336%2C000%5C%5C%24fixed%26100%2C800%26244%2C800%5C%5C%24operating%2691%2C200%2691%2C200%5C%5C%5Cend%7Barray%7D%5Cright%5D)
a 10% increase in sales generates increase in profits for:
greenback: 19,200
one-Mart: 33,600
Explanation:
10 increase in sales:
480,000 x 10% = 48,000
to calcualte the increase in profit, we multiply the increase in sales by the contribution margin:
greenback 48,000 x 0.4 = 19,200
one-Mart 48,000 x0.7 = 33,600
Enter January in A1 hold mouse in bottom right hand corner of cell. Hold mouse button down and drag the mouse. Excel will populate the months of the year
Answer:
It will cause a major problem in case the client adds new deposit to an income account instead of receiving a payment.
Explanation:
Account receivables are the record of the invoices for which the client has not made payment yet. If the client adds a new deposit categorized to an income account instead of receiving a payment against the invoice, the first major problem would be that the Accounts Receivable balance of the client will not be accurate. It will create duplicate expenses as there was an entry made for a new deposit.
The second problem will be as a result of the first one that, the income account will show duplicate income and correct the correct income will not be recorded.
