the month of February Concord Airlines expects a total cash receipt of 208 and a total cash disbursements of 463. The ending cash balance of January was 38.The company will take a loan in case the minimum desired cash balance of 500 BD is not met. Based on this information what is the loan amount for the month of February?

the month of February Concord Airlines expects a total cash receipt of 208 and a total cash disbursements of 463. The ending cash balance of January was 38.The company will take a loan in case the minimum desired cash balance of 500 BD is not met. Based on this information what is the loan amount for the month of February?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The Runner Antique Mall expects to make purchases in the first quarter of 2021 as follows: January $85,500 February 108,000 March 76,500 Purchases in December 2020 are expected to be $82,600. The company expects that 50 percent of a month's purchases will be paid in the month of purchase and 50 percent will be paid in the following month. Estimate cash disbursements related to purchases for each month of the first quarter of 2021.
Mel's Photography borrowed $15 OOO on March 10 on a demand note. The loan was repaid by payments of $4000 on June 20, $3000 on September 1, and the balance on November 15. Interest, calculated on the daily balance and charged to Mel's Photography current account on the last day of each month, was at 5.5% on March 10 but was changed to 6.25% effective June 1 and to 6% effective October 1. How much did the loan cost?
A credit card bill for $559 was due on September 14. Purchases of $283 were made on September 19, and $12 was charged on September 28. A payment of $350 was made on September 25. The annual interest on the average daily balance is 21.5%. Find the finance charge due (in dollars) on the October 14 bill. (Use 365 for the number of days in a year. Round your answer to the nearest cent.)
The table below shows the expenses and payments for 8 months on a credit card account with an initial balance of $400. Assume that the interest rate is 1.0% per month (12% APR) and that interest for a given month is charged on the balance for the previous month. Complete the table. After 8 months, what is the balance on the credit card? E Click the icon to view the table of expenses and payments. Complete the table below. (Round to the nearest cent as needed.) Month | Payment | Expenses | Interest | Balance - > Table of expenses and payments $400 $4.00 s204.00 --- --- --- 1 $400 $200 Month Payment Expenses Interest Balance $400 $200 1.0% x $400 204.00 2 $225 $225 1 $400 = $4.00 2 3 $225 $360 $400 $225 $350 $350 $60 $80 $200 S70 6 7 8. $100 $225 $110 Print Done
A machine shop has a credit card that offers rebates on purchases. At the end of May, the company had a credit card bill of $19,474.38. If the company must make a minimum payment that is the greater of $500 or 4.5% of the credit card bill, what is the minimum monthly payment for May? (Round your answer to the nearest cent.) $?
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A credit card bill for $562 was due on September 14. Purchases of $286 were made on September 19, and $18 was charged on September 28. A payment of $350 was made on September 25. The annual interest on the average daily balance is 21.5%. Find the finance charge due (in dollars) on the October 14 bill. (Use 365 for the number of days in a year. Round your answer to the nearest cent.)
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Karim Corp. requires a minimum $9,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $9,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. July August September Cash receipts $ 25,000 $ 33,000 $ 41,000 Cash payments 29,500 31,000 33,000 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) KARIM CORP. Cash Budget For July, August, and September July August September Beginning cash balance $9,400 Total cash available Preliminary cash balance Ending cash…
Question 6. Attached is a similar question answered. Please complete for January through December :)
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A credit card balance at the beginning of the month is $6,000. on the fourth day a $200 charge is made. on the tenth day a $1500 payment is made. on the seventeenth day a $200 charge is made, and a $100 payment. on the twentieth day a $500 charge is made. using the average daily balance method, Caculate the interest charged if the account had a 16.5% rate and the billing period is 31 days.

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