Mike has a credit card balance of $30,000. The annual interest rate is 17%. He is required to pay a minimum of 4% of the outstanding balance, but never less than $50. If Mike wants to pay off the balance in 9 years, how much extra must He pay every month?

Q: Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable…

A: To increase sales there is need investment in assets and that investment can be managed internally…

Q: 0. 00000

A: Please feel free to ask any questions you have, and I'll do my best to provide you with the…

Q: What is the value of (A/G, 3.3%, 10)? a. 3.3297 b. 4.2326 O c. 4.5050 d. 4.0220 e. 5.0117

A: Annuity refers to series of equalized payments that are either made at start or end specific…

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A: To calculate the change in Operating Working Capital (OWC) during Year 2, you need to consider…

Q: Identify the break-even point in the chart below: a. The yellow point b. None are the break-even…

A: The Break-even point is the level of sales at which Fixed Cost is equal to Contribution. In other…

Q: THE SMITH COMPANY Using the business transactions below, complete T-accounts for the Smith Company.…

A: T Accounts    1. Cash Account Particular Debit Particular Credit         To capital A/c…

Q: 3 plus 4

A: Solution: 3 Plus 4  = 3 + 4

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A: Job cost is a method of ascertaining the total cost of specific job. It can be calculated on the…

Q: The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are…

A: 1) Accounts receivable turnover = Net Sales/Average accounts receivables  For 20Y3…

Q: Alamos Co, exXchanged equipment and $18,500 cash for similar equipment. The book value and the fair…

A: Accounts Titles  Debit Credit Equipment - new [ Fair value + Cash] (91500+18500) $110000…

Q: 1600 A= 310 A 2 3 41 FIND (x) FOR THE SHOWN CASH-FIO X DIAGRAMS USE:i=9% A A 6 7

A: An annuity refers to a payment series where a fixed periodic amount is paid in exchange for a lump…

Q: Question 4. Compare the use one of the electronic circuits, as shown in the table below, which…

A: Terminal cash flows are the cash flows which are generated at the end of the project. Terminal cash…

Q: Question 8

A: When net credit sales is divided with average accounts receivable it results in receivable turnover…

Q: A) The value of A1 is 800 B) The value of A2 is 56.96 C) The Value of the Annuality 800 D)The…

A: The value will be calculated by using the following formula: Value of Annuity =Amount×(+Rate…

Q: Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases.…

A: The marginal tax rate represents the highest tax rate paid by the entity, and The average tax rate…

Q: Bill of exchange are of types 1 type 3 types 2 types 4 types

A: Bill of exchange means an instrument where the drawer draw the bill and after accepted by acceptor ,…

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A: A company's current financial needs to pay for future pension liabilities are calculated actuarially…

Q: Brown Ltd has 1,000 kg of material A in stock, which cost it £20 per kg. It has been offered £16 per…

A: Costs of material: 20 per kg. Offer price by dealer: 16 per kg. Delivery price to dealer: 6 per kg.…

Q: 1(1.25)/1.1+[1(1.25)3/(0.10-0.06)]/1.1 Simply the equation.

A: 1(1.25)/1.1+[1(1.25)3/(0.10-0.06)]/1.1

Q: 1.02 1.02 1.02 1.02 7T-. .T 1.0200

A: Formula for PV calculation is given below:PV= CF/(1+i)^nBelow is the question asked which is till…

Q: M A N A G I N G   Y O U R   C A S H   A N D   S A V  I N G S D e t e r m i n e  t h e   a n n u a l…

A: Introduction: Annual net cost of checking account: Amount charged by bank like processing fees,…

Q: 42. (13.0) 【) Discuses at least three considerations around the ethics of accepting gifts

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A: Present value is the equivalent value today which will give the same cash flow in the future and…

Q: x 13579 y 143 116 100 98 90 What is the correlation coefficient for the data set (rounded to two…

A: The given problem can be solved using CORREL function in excel. CORREL function computes correlation…

Q: X 0 1 2 3 SHOWN CASH-FIOW DIAGRAMS USE:i=9% 4 5 6 71

A: In arithmetic growing series the amount changes by a fixed amount and at a constant rate only and…

Q: Question 5.00€ vd rwob asog abnod to oulay sud zofduob soole to oulsy stylquada wat 576 251 12979ti…

A: Systematic Risk: Systematic risk, also known as market risk, is the portion of an asset's risk that…

Q: r

A: To calculate the overall cost of capital for Humble Manufacturing, we need to calculate the cost of…

Q: Use the following table to answer 2) and 3) State        Probj     R1 (%)      R2 Boom        1/5…

A: Expected value = ∑probability*value E(R1) = ∑probj*R1 E(R2) = ∑probj*R2 E[(R1 – E(R1) )(R2 - 4)] =…

Q: 97,004 54,803

A: 97004 minus 54803

Q: E10.2

A: Interest accrued on June 30 = Face value of note x rate of interest  x No. of months /12 = $90,000 x…

Q: Given: Mark-on (MO) = P599 Cost (C) = P1699 Mark-up rate based on cost (MU_c%) = 30% Find the…

A: Selling price included total cost , selling price and mark up on cost.

Q: Q u e s t i o n  A . C a l c u l a t e   t h e   i n d i v i d u a l   c o s t   o f   e a c h   s…

A: Rd= (100+(50/10))/((950+1000)/2) Rd=105/975      =10.76% Cost of preference stock = 11% Cost of…

Q: Step by step

A: The formula given in the question is as shown on the whiteboard.

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A: The cost of partially completed work as of the end of the accounting period is what is known as the…

Q: The Drogon Company just issued a dividend of $2.81 per share on its common stock. The company is…

A: Dividend = D0 = $2.81growth rate = g = 5%Price = P0 = $50Since growth rate is expected to be 5%,…

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A: Working Note #1 No. of shares before repurchase = 2900 No. of shares after repurchase (after issue…

Q: 18 eBook References A portfolio analyst has been asked to allocate investment funds among three…

A: Portfolio return is calculated as shown below.Portfolio standard deviation is calculated as shown…

Q: 4+1?

A: The calculations are done so that the actual result for which the computation has been done can be…

Q: 14. Determine the numerical value of the factor (F/A, 5%, 10). A 0.1295 B 0.0795 12.5779 D 7.7217

A: Future value is the value of a certain sum of money in the future. The future value of the annuity…

Q: 8 Transform 2 into an improper fraction. 10 a. 28/5 b. 5/14 c. 14/5 d. 14/10

A: An improper fraction is a fraction where the dividend is larger than the divisor.

Q: 3 .  D e t e r m i n e   t h e   a n n u a l   n e t   c o s t   o f   t h e s  e   c h e c k i n g…

A: To determine the annual net cost of these checking accounts, we need to calculate the total fees…

Q: a y i n g   P 3 7 , 5 0 0 . 0 0   p e r   m o n t h   o n   h e r   P 2 , 0 0 0 , 0 0 0 . 0 0 ,   8…

A: In case of mortgage, a series of periodic equal amount (PMT) is paid. Based on this, total amount to…

Q: Handerson Corporation makes a product with the following standard costs: Standard Quantity or Hours…

A: Variable overhead rate variance: Variable Overhead Rate Variance is the difference between what the…

Q: (C) (51.05) (d) 10 10

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A: Raw materials price variance for the month = (Actual Price-Standard Price)*Actual Quantity purchased…

Q: e following information is provided for the first month of operations for Legal Services Inc.: The…

A: The journal entries are prepared to keep the record of day to day transactions of the business on…

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.