Assume that you start with a balance of $3900 on your credit card. During the first month you charge $400 and during the second month you charge $650 Assume that you credit card charges a 29% APR and that each month only the
Q: How long will it take to save $2581.00 by making deposits of $227.00 at the end of every month into ...
A: It can be calculated using =NPER(rate,pmt,pv,[fv],[type]) Rate The interest rate for the loan. Npe...
Q: this project acceptable?
A: The return is the profit or loss that an investor anticipated on an investment. It is to be calculat...
Q: nstruction: Show complete solution including the cash flow diagram if not given,Formula function, Fo...
A: The Equivalent Uniform Annual Cost is a term which defines the total cost of an asset which is incur...
Q: How long will it take to save $2581.00 by making deposits of $227.00 at the end of every month into ...
A: Solution:- When equal deposits are made at the end of each period, it is called as ordinary annuity....
Q: Husband and Wife have two biological children and one adopted child. Now that the adoption is finali...
A: adoption is a process of getting non-biological child of someone else legally.
Q: Melissa is glancing at this document that shows a financial summary of Cheesy Company's operations d...
A: Every company needs to prepare the financial statements for the financial year.
Q: Year Risk free rate (%) Return_risk-free asset 2011 4.51 - 2012 3.11 2013 2.61 2014 2.75 2015 ...
A: In 2011, the rate of return was 4.51 percent.In 2012, the rate of return was 3.11 percent.In 2013, t...
Q: A $1,000, 9.5% coupon Government of Canada bond has 10 years remaining until its maturity. It is cur...
A: A Bond refers to an instrument that represents the loan being made by the investor to the company an...
Q: Carlo and Elise loves to play lottery. They just won Php10,000 in the GongDi WangBu lottery. They de...
A: Future Value refers to the value of the current asset or investment or of cash flows at a specified...
Q: A construction company agreed to lease payments of $649.32 on construction equipment to be made at t...
A: Lease agreement gives the right to use the assets during the given period by the payment of the peri...
Q: The risk of an investment project that may have (1) 10% chance of losing $1000; (2) 20% chance of ga...
A: P1 = 10%, Cashflow (C1) = - $1000 P2 = 20%, Cashflow (C2) = $200 P3 = 30%, Cashflow (C3) = $800 P4 =...
Q: Taylor Company has a cash balance of Php 7,500 on April 1. The company must maintain a minimum cash ...
A: Borrowings are the loan which is taken by the individual to meet its financial requirements. The mor...
Q: Which of the following is not a cash disbursement item? a. Cash purchases b. Cash dividend payment c...
A: Cash disbursement is also called cash payment made in specific period.
Q: For the next five years, Chard invests 50000 in a bank account at 12%interest. Will the original pri...
A: Principal Amount = 50,000 Interest Rate = 12% Inflation Rate = 75% Time Period = 5 Years
Q: Assume inflation is expected to be 3% next year, 4% the following year, and 6% thereafter. The matur...
A: Nominal interest rate It is the real interest rate along with inflation rate. In approximate term, n...
Q: The term of the annuity is year(s) and month(s).
A: Annuity refers to the pattern of payment made at equal intervals. It is a type of long-term invest...
Q: I and Mrs. Dafoe are doing some estimates of the amount of funds they purchase an annuity paying S50...
A: Present value of monthly annuity would be the amount required to purchase the annuity considering ti...
Q: tandard Deviation: 10.56% Average Risk Free Rate: 2.18% Using these figures: a) Select the best o...
A: The portfolio should have good return but should be also less risky so both should be there to be be...
Q: This plant design, entitled “IIVSDROP: The First Ear Dropper Solution Manufacturing Plant in the Phi...
A: Initial Cost = PHP 550,320,000 Other Cost = PHP 27,000,000 Time Period = 30 Years Rate of return = 2...
Q: Year ASX 300 Index ASX 300 Dividend Yield (%) Return_risky portfolio 2010 4760.79 3.76 - 2011 4052.2...
A: Every investor tries to maximise his wealth by seeking for maximum returns. Therefore, asset allocat...
Q: A 5-year project will require an investment of $100 million. This comprises of plant and machinery w...
A: Data given: Market price = $500 per share. D1= $4 per share Growth rate = 9% per year for an indef...
Q: Technical analysts believe that investors can use past price changes to predict future price changes...
A: Like Fundamental analysis, Technical analysis is alsoan analysis tool used by various day traders an...
Q: Which of the following statements is/correct regarding the Cash Budget? The cash budget is a stateme...
A: Cash budget - It is an estimate of cash inflow and cash outflow of a company . Cash budget are usua...
Q: r=0% on deposits. Consumer needs to borrow $50 loan and the consumer has uncertain income of y=50,80...
A: Expected return Expected return is the sum of all returns times the associated probability. It is ca...
Q: Suppose you have a 1-year old son and you want to provide R75 000 in 17 years towards his college ed...
A: Future Value refers to the value of the current asset or investment or of cash flows at a specified ...
Q: A bank sets the loan rate on a prospective loan at 14%. This consists of a 12% base rate and a 2% cr...
A: A loan is a financial aid which is given by one party to another party. This transaction can take pl...
Q: Black ives in Mantoba, a non-participating province that has an 7% provincial sales tax During the c...
A: Government charges the GST on goods purchased to increase the collection from taxes but rate of GST ...
Q: 9.4 (LG 9.2, 9.3, 9.4) An investment pays $10 000 in five years. a. If inflation is 10 percent per y...
A: Since you have asked a multiple subpart question, we will answer the first three subparts for you. A...
Q: which of the below does not qualify a bond ? a. Time to maturity b. Par Value c. Coupon rate d. Yie...
A: Bonds are a sort of financial instrument used by governments and enterprises to raise funding from t...
Q: Anna loaned P450,000 at 10% compounded annually. She signed a contract to repay the loan in 20 equal...
A: Loan amount (PV) = P450,000 Number of annual payment (n) = 20 Interest rate (r) = 10%
Q: The payoffs of an investment are dependent on the state of the economy. The economy can have two st...
A: Expected rate of return is the profit or loss on the investor that is assumed to be anticipated by t...
Q: is deposited each year into a bank account that pays 8% interest compounded quarterly how much would...
A: The future value of annuity includes the amount being deposited each year and the amount of interest...
Q: Are deeds the only acceptable way to legally transfers a property? Why or not?
A: The deed is legal document that is valid and is paid value and legally binding documents.
Q: If the yield to maturity for each bond remains at 9%, what will be the price of each bond 1 year fro...
A: Bond A Bond B Bond C Face Value $ 1,000.00 $ 1,000.00 $ 1,000.00 Coupon rate...
Q: If Inflation and the interest rate were both zero, would there still be a time value of money? State...
A: The concept of time value of money says that money today has more worth than the same amount of mone...
Q: Project L requires an initial outlay at t = 0 of $61,983, its expected cash inflows are $12,000 per ...
A: Initial Cash outlay at t=0 is $61,983 Expected cash outlay is $12,000 Time period is 12 years To Fin...
Q: If you perform a NPV analysis on a perspective investment using a "d" = 15% and: a. the NP...
A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only on...
Q: Big Oil, Inc. has a preferred stock outstanding that pays a $8 annual dividend. If investors’ requir...
A: a. Market value of shares = Annual dividend / Required rate of return Market value of shares = $8 / ...
Q: Find the amount of P18450 after 5 years if it will be considered compounded semi- annually at the ra...
A: Interest is paid on the amount of the deposit. The rate of interest and number of periods depend on ...
Q: Assuming that revenues stayed flat (meaning the company did not try to increase sales by the 12 perc...
A: Profit depends on the expenses and if expenses decreases the profit will increase but if expenses in...
Q: In March, Dough Corporation expects to sell 41,000 units of its single product. The company has 2,80...
A: Here, Expected Sales is 41,000 units Beginning Inventory is 2,800 units Ending Inventory is 2,400
Q: Discuss the advantages and disadvantages of using (a) payback, (b) net present value and (c ) intern...
A: Payback Period: It refers to the period in which the project's or investment's initial cost is reco...
Q: Data to be used 1 Date closing market index value closing price for PG closing price for F 2 1/02/2...
A: Given: 1 Date closing market index value closing price for PG closing price for F 2 1/02/2017 2...
Q: Assume a selling price of $88,000, a down payment of $24,000, and a mortgage at 13% for 30 years. If...
A: Here selling price is 88,000 and down payment is 24,000 Hence loan amount = selling price - down pay...
Q: TVM HOMEWORK ASSIGNMENT 1. You have $12,000 to invest. You need the money in 13 years, and you expec...
A: Present value (PV) = $12000 Interest rate (r) = 6% Period (n) = 13 years
Q: How do development banks help to increase international trade?
A: The exchange of products, services, and capital across international restrictions or territories occ...
Q: There is a bank account that has $650 as the initial value. In 8 years, the new balance of the bank ...
A: Solution:- Rule 72 calculates the approximate time for an investment to get double, under the given ...
Q: Lauren deposited $10,000 today. He plans to withdraw $700 every year. For how long can she withdraw ...
A: Solution:- When an equal amount is withdrawn starting one period from now, it is called as ordinary ...
Q: te solution and box the fi
A: Since in this question, payments are not given, so we do by assuming it zero coupon discount bond.
Q: Which of these two companies is best for investment? Trend Probability Rate of Retrun (Company A) ...
A: We need to calculate expected return rate of return from investment by multiplying the probability w...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Assume that you start with a balance of $610 on your credit card.During the first month you charge $180 and make a payment of $400. During the second month you charge $100 and make a payment of $280. Assume that your credit card charges a 24% APR. Complete the following take table. Round your answer to the nearest cent. Table 1 month- Previous balance- Finance charge- Purchase- Payments- New balance 2 month- Previous balance- Finance charge- Purchase- Payments- New balance You have a credit card with an APR of 28%. The minimum amount payment is 12% of the balance. Suppose you have a balance of $1050. You decide to stop charging and make only the minimum payment. Complete the table. Round your answers to the nearest cent Table 1 month- Previous balance- Finance charge- Purchase- Payments- New balance 2 month- Previous balance- Finance charge- Purchase- Payments- New balanceAssume that you start with a balance of $3900 on your credit card.During the first month you charge $400. During the second month you charge $650 and make a payment of $280. Assume that your credit card charges a 29% APR and each month you make the minimum payment of 2.5% of the balance. Complete the following table. Round your answer to the nearest cent. Month 1 Previous balance- $3900 Finance charge- $94.25 Purchase- 400 Payment ?97.50 New balance? Month 2 Previous balance- finance charge- purchase- payments- New balanceAssume that you start with a balance of $3900 on your credit card. During the first month you charge $400 and during the second month you charge $650. Assume that your credit card charges a 29% APR and that each month you make only the minimum payment of 2.5% of the balance . Complete the following table. Round to nearest cent Table Month 1 Previous balance- Finance charge - Purchase- Payments- New balance Month 2 Previous balance- Finance charge - Purchase- Payments- New balance
- You have a credit card with an APR of 16%. You begin with a balance of $750. In the first month you make a payment of $550 and you make charges amounting to $400. In the second month you make a payment of $300 and you make new charges of $600. Complete the following table. (Round your answers to the nearest cent.) Previous balance Payments Finance charge New balance Purchases Month 1 $750 Month 2 %24 24 eBookAssume that you start with a balance of $3900 on your credit card. During the first month, you charge $400, and during the second month, you charge $650. Assume that your credit card charges a 27% APR and that each month you make only the minimum payment of 2.5% of the balance. Complete the following table. (Round your answers to the nearest cent.) Previous Balance Finance Charge(+) Purchases(+) Payments(-) New Balance Month 1 3900 Correct. 87.75 Correct. 400 Correct. 97.50Correct. 3890.25 incorrect. Month 2 3890.25 Incorrect. 87.52 Incorrect. 650 Correct. 97.25Incorrect. 3880.27Incorrect.Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $130 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $28.59 October 16 Credit $20.00 October 25 Purchase $122.60 average daily balance = $ ___
- You have a credit card that charges an interest rate of 15.1% compounded monthly. The table below shows your activity for the month of April. Date April 1 April 5 April 7 April 15 April 20 April 28 April 30 Ending Balance Activity Beginning Balance Purchase $ Payment Purchase Purchase Purchase Amount 46.20 -175.00 99.25 13.00 42.00 Balance 850.00 896.20 721.20 820.45 833.45 875.45 875.45 What is the average daily balance for this account? What is the finance charge for the month of April?You have a credit card that charges an interest rate of 14.85% compounded monthly. The table below shows your activity for the month of April. Date April 1 April 2 April 7 Payment April 11 Purchase April 25 Purchase April 28 Purchase April 30 Ending Balance Activity Beginning Balance Purchase $ Amount 39.40 -225.00 79.25 19.00 48.80 Balance 675.00 714.40 489.40 568.65 587.65 636.45 636.45 What is the average daily balance for this account? What is the finance charge for the month of April?Assume that you start with a balance of $3600 on your credit card. During the first month, you charge $400, and during the second month, you charge $550. Assume that your credit card charges a 29% APR and that each month you make only the minimum payment of 2.5% of the balance. Complete the following table. (Round your answers to the nearest cent.) Finance Charge (+) Previous Purchases Payments (-) New Balance Balance (+) Month 1 Month 2
- You have a credit card that charges an interest rate of 10.95% compounded monthly. The table below shows your activity for the month of April. Date April 1 April 3 April 9 April 20 April 24 April 26 April 30 Ending Balance Activity $ Beginning Balance Purchase $ Payment Purchase Purchase Purchase Balance 1,175.00 35.70 1,210.70 -300.00 910.70 92.00 1,002.70 15.00 1,017.70 64.70 1,082.40 1,082.40 What is the average daily balance for this account? Amount How much interest is owed this month? How much total money is owed at the end of the month?You have a credit card that charges an interest rate of 21.35% compounded monthly. The table below shows your activity for the month of April. Activity Beginning Balance Purchase Payment Purchase 20 Purchase April 27 Purchase April 30 Ending Balance Date April 1 April 7 April 12 April 14 Amount 36.40 -175.00 99.50 17.00 31.00 Balance 600.00 636.40 461.40 560.90 577.90 608.90 608.90 What is the average daily balance for this account? What is the finance charge for the month of April?Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $120 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $26.59 October 16 Credit $10.00 October 25 Purchase $122.60