Alpine Electronics has average daily sales of $75,000. A proposed electronic payment system would reduce their collection time by 2.1 days. If Alpine can earn 4.8% interest annually, what would be the annual savings from implementing this system?
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- Your firm has an average receipt size of $65. A bank has approached you concerning a lockbox service that will decrease your total collection time by 2 days. You typically receive 8,700 checks per day. The daily interest rate is 0.016 percent. If the bank charges a fee of $190 per day, what is the NPV of the lockbox project? NPV What would the net annual savings be if the service were adopted? Net annual savingsA credit card holder has $12,000 on a credit card that charges a nominal annual rate of interest compounded 12 times a year. If the card holder wants to pay off the credit card in 6 years, how much will the card holder need to pay? Use this information to complete the following: 1) If the card holder is a low-risk customer, and the credit card company will charge 12.3% nominal annual rate of interest compounded 12 times a year. Compute: i. Monthly payment: | ii. Total amount of money the card holder will pay: iii. Total interest amount the credit card company will earn:If you want to have $875 in 36 months, how much money must you put in a savings account today? Assume that the savings account pays 16% and it is compounded quarterly. Round to the nearest $1. Please give the HP 10bII+ calculator solution steps only, I'm having trouble figuring it out, thank you in advance
- can you please help me to this account questionsA payday lender might lend you $350 now, and you'll be asked to pay them back when your paycheck comes. Of course, you'll have to pay interest. The median fee charged by these types of lenders is $15 per every 100 borrowed. How much would you have to pay back in ten days?Your firm has an average receipt size of $60. A bank has approached you concerning a lockbox service that will decrease your total collection time by 2 days. You typically receive 8,500 checks per day. The daily interest rate is 0.02 percent. If the bank charges a fee of $190 per day, what is the NPV of the lockbox project? What would the net annual savings be if the service were adopted?
- A Chevrolet Sonic Hatchback costs $14,375.00. With a 7% down payment, you can have an amortized loan for 9 years at a rate of 4%. What will the monthly payment be? How much will the car cost, in total? How much money will be paid in interest?A Chevrolet Sonic Hatchback costs $14,640.00. With a 9% down payment, you can have an amortized loan for 8 years at a rate of 4.5%. a) What will the monthly payment be? b)How much will the car cost, in total c)How much money will be paid in interest?Suppose you deposited $1,000 in a credit union account that pays 7% with dailycompounding and a 365-day year. What is the EFF%, and how much could youwithdraw after 7 months, assuming this is seven-twelfths of a year? [EFF% = (1 +0.07/365)365 - 1 = 0.07250098 = 7.250098%. Thus, your account would growfrom $1,000 to $1,000 (1.07250098)0.583333 = $1,041.67, and you could withdraw that amount.]
- Your firm sells for cash only, but it is thinking of offering credit, allowing customers 90 days to pay. Customers understand the time value of money, so they would all walt and pay on the 90th day. To carry these receivables, you would have to borrow funds from your bank at a nominal 8%, dally compounding based on a 360-day year. You want to increase your base prices by exactly enough to offset your bank interest cost. To the closest whole percentage point, by how much should you raise your product prices? Do not round Intermediate calculations. Round your answer to the nearest whole number. %You have saved RM 4,000 for a down payment on a new car. The largest monthly payment you can afford is RM 350. The loan would have a 12 percent Annual Percentage Rate based on end-of-month payments. What is the most expensive car you could afford if you finance it for 48 months and 60 months?You have the alternative of paying for university fees today for a payment of $16,000 or, you can select a payment plan where you pay $6,000 in 8 months from today and another $10,000 in exactly 24 months from today. If the interest rate is 4.6%p.a. compounding monthly, what is the advantage that the payment plan has over the upfront payment? (expressed in present day value rounded to the nearest cent; do not show $ sign or comma separators; if the payment plan is more costly than $16,000 today, your answer will show a negative eg. -300.35) Answer: Jill borrows $300,000 for 10 years at a fixed interest rate of i % p.a (EAR). If the loan is repaid in 10 equal year-end payments over the 10 years, the amount of the loan outstanding at the end of the 5th year will be: Select one: O a. Less than $150,000 O b. Greater than $150,000 O c. Equal to $150,000 A prize pays $15,000 each quarter for 4 years (16 payments)commencing in exactly 6 months' time. If the appropriate discount rate is 11.6%…
