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Q: Joshua borrowed $1,400 for one year and paid $70 in interest. The bank charged him a service charge…
A: Principal Amount = p = $1400Interest = i = $70Service Charges = sc = $12Number of Payment = n = 12
Q: Joshua borrowed $500 for one year and paid $50 in interest. The bank charged him a service charge of…
A: Annual Percentage Rate (APR)= (2 * N * FC) / [ (P * (N+1)]
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A: Given information: Amount borrowed is $1,000 Bank interest rate is 8% Loan paid in two end of the…
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A: > Given data:> Calculation of APR as follows below:> APR = ((Amount paid / Loan amount ) /…
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A: Under the slab system for taxation, the income tax rate in the slab increases with an increase in…
Q: what is the future value of his investment cash flows at the end of three years? (Round to two…
A: Future value means the value of the assets at a specified time in future. It is very important for…
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A: Gross Income can be computed by the total amount that is earned before taxes and other deductions…
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A: The periodic payment is payments made to repay the loan or debt. The periodic payment is made at…
Q: Ms. Walsh invested $35,000 in two accounts. one yielding 8% interest and the other yielding 9%. if…
A: Interest rate in account 1 (r1) = 8% Interest rate in account 2 (r2) = 9% Period (t) = 1 year Total…
Q: Dave borrowed $1,300 on January 1, 2022. The bank charged him a $5.00 service charge, and interest…
A: When a borrower takes out a loan from a lender, they are required to pay interest on the borrowed…
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A: Formula to calculate FV: F = P * ([1 + i]^N - 1 )/i Wherein: P = $9,000 deposited annuallyi =…
Q: ars. After you paid the first month's payment (i.e., August 1), you received the tax return of $300…
A: Compounded monthly Borrowed loan = $2,000 Interest rate = 5% 4th payment = $1376.01 5th payment =…
Q: nifer deposited $54,000 at Bank of America at 20% interest compounded quarterly. a) What is the…
A: In this we need to find out the effective annual rate.
Q: Lee Holmes deposited $17,300 in a new savings account at 12% interest compounded semiannually. At…
A: Compound Interest is the method that considers interest on interest. It is a widely used method. The…
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A: A loan refers to a contract where money is borrowed by one party from the other on the promise of…
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A: Treasury bills, often referred to as T-bills, are short-term debt securities issued by a government,…
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A: The question is based on the concept of Financial Management. In the given question the difference…
Q: How much investment interest can Tobias deduct?
A: Given in the question:Total Interest Expense = $37,600Municipal Interest Income = $75,200Taxable…
Q: Dave borrowed $730 on January 1, 2019. The bank charged him a $4.00 service charge and interest was…
A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…
Q: Jones invests USD 250.000 in a building society account. At the end of the year her account is…
A: Interest = Principal * Rate of interest * Time
Q: Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the…
A: The value of money differs with the time passage and the value of it at present is worth more than…
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A: Given,
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A:
Q: At the year end, Harold has a receivables balance of $100,000 and an allowance for receivebles of…
A: Allowance Method - Under allowance method company make provision of uncollectible accounts at the…
Q: On January 1, Alan King decided to transfer an amount from his checking account into aninvestment…
A: Present value: It refers to the current value of the sum of money or the series of cash flows that…
Q: Mr. Deneau accumulated $97,000 in an RRSP. He converted the RRSP into a RRIF and started to withdraw…
A: Present value of an annuity: The present value of a cash flow stream of an annuity is calculated by…
Q: Let's assume you borrowed $2000 from Wells Fargo Bank on July 1. The annual Percentage Rate is 5%.…
A: Loan amortization is the creation of a schedule of a fixed payment loan that specifies the interest…
Q: Margaret M. withdrew $630,315 from an account into which she had invested $350,000. If the account…
A: FV= $630,315 PV= $350,000 Interest at 4% per year Time period= ?
Q: Miguel deposited $11,500 into a fund at the beginning of every quarter for 15 years. He then stopped…
A: The objective of the question is to calculate the accumulated value of the fund at the end of…
Q: Reese contributed $250.00 every month into an RRSP for 5 years. What nominal annual rate of interest…
A: Solution:-When an equal amount is contributed each period at end of period, it is called ordinary…
Q: Javier is currently paying $1 comma 5001,500 in interest on his credit cards annually. If, instead…
A: Future value:The idea of future value takes into consideration the influence of interest or…
Farmer Brown paid $200,000 in cash expenses during the year. At the beginning of the year, there was $5,000 worth of seed on hand. At the end of the year, there was $10,000 worth of seed on hand. What would be the accrual adjustment on the income statement? Round your answer to the nearest dollar.
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- Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $29,200 during the year. Income generated through the brokerage account was as follows: Municipal interest $58,400 Taxable dividends and interest 292,000 If required, round any division to two decimal places and use in subsequent computation. Round your final answer to the nearest dollar. How much investment interest can Tobias deduct?Carl’s house payment is $2,280 per month and his car payment is $780 per month. If Carl's take-home pay is $4,800 per month, what percentage does Carl spend on his car payment? Note: I am not sure how to enter the answer as a percent rounded to 2 decimal places.On Juan's 26th birthday, he deposited $7,500 in a retirement account. Each year thereafter he deposited $1,000 more than the previous year. Using a gradient series factor, determine how much was in the account immediately after his 35th deposit if: a. The account earned annual compound interest of 5%. b. The account earned annual compound interest of 6%.
- Each of the following scenarios is independent. All cash flows are after-tax cash flows. Required: 1. Michael Kimathi has purchased a tractor for $87,500. He expects to receive a net cash flow of $33,000 per year from the investment. What is the payback period for Michael? Round your answer to two decimal places. 2.65 years 2. Bertha Lafferty invested $362,500 in a laundromat. The facility has a 10-year life expectancy with no expected salvage value. The laundromat will produce a net cash flow of $109,000 per year. What is the accounting rate of return? Enter your answer as a whole percentage value (for example, 16% should be entered as "16" in the answer box). 30 X % 3. Melannie Bayless has purchased a business building for $322,000. She expects to receive the following cash flows over a 10-year period: Year 1: $44,500 Year 2: $62,000 Year 3-10: $81,400 What is the payback period for Melannie? Round your answer to one decimal place. 4.6 years What is the accounting rate of return?…Kia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. A. $73,441.24 B. $80,416.53 C. $86,849.86 D. $87,949.86Craig Daniel opens a new savings account. He deposits $12,000 at 12% compounded semiannually. At the start of the fourth year, Craig deposits an additional $50,000 that is also compounded semiannually at 12%. At the end of six years, the balance in Craig Daniel's account is : (due to rounding in the order of calculations, select the answer within $1 or $2 dollars)
- Answer each of the following independent questions. Ignore personal income taxes. Required: 1. Suppose you invest $4,000 in an account bearing interest at the rate of 12 percent per year. Complete the table to show how your accumulation grows each year to equal $7,896.00 after six years. 2. You have estimated that your educational expenses over the next three years will be $14,500 per year. Your account bears interest at 9 percent per year. Complete the table given below to show that $36,699.50 is the amount you need to fund your educational expenses. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Suppose you invest $4,000 in an account bearing interest at the rate of 12 percent per year. Complete the table to show how your accumulation grows each year to equal $7,896.00 after six years. (Round your answers to 2 decimal places.) Year Beginning Balance Interest 1 2 3 4 5 6 End BalanceTo illustrate the preceding discussion, suppose that a father, on the day his son is born, wishes to determine what lump amount would have to be paid into an account bearing interest of 12% per year to provide withdrawals of $2,000 on each of the son’s 18th, 19th, 20th, and 21st birthdays.Andrew has purchased a new car. He wishes to set aside enough money in a bank account to pay the maintenance for the first 5 years. It has been estimated that the maintenance cost of a car is given in the table.Assume the maintenance costs occur at the end of each year and that the bank pays 5% interest. How much should Andrew deposit in the bank now?