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Your bank will lend you $3,200 for 30 days at a cost of $38 interest. a. What is your annual rate of interest? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual rate of interest
H
(use 365 days a year. Round your intermediate calculations and
final answers to 1 decimal place.)
Problem 12-4A Calculate risk ratios (L012-3) The following income statement and balance sheets for Virtual Gaming Systems are provided. VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2018 Net sales Cost of goods sold $3,066,000 1,956,000 1.110,000 Gross profit Expenses Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense $864.000 30,000 8,600 18,000 54,000 Total expenses...
Prescott Bank offers you a five-year loan for $66,000 at an annual interest rate of 7.5 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
DataPoint Engineering is considering the purchase of a new piece of equipment for $210,000. It has an eight-year midpoint of its asset depreciation range (ADR). It will require an additional initial investment of $110,000 in nondepreciable working capital. $27,000 of this investment will be recovered after the sixth year and will provide additional cash flow for that year. Income before depreciation and taxes for the next six are shown in the following table. Use Table 12–11, Table 12–12. Use Appendix B for an approximate...
Please note: (Round
intermediate calculations and final answer to 2 decimal places,
e.g. 15.20.)
Problem 9.24 Management of Cullumber, a biotech firm, forecasted the following growth rates for the next three years: 35 percent, 28 percent, and 22 percent. Management then expects the company to grow at a constant rate of 9 percent forever. The company paid a dividend of $1.40 last week. If the required rate of return is 15 percent, what is the value of this stock? (Round intermediate...
Your bank will lend you $2,000 for 60 days at a cost of $35 interest. What is your effective rate of interest? Al Pay Day Lenders will lend $200 for 10 days at a cost of S 10 interest. What is the effective rate of interest?
Find the effective annual interest rate for each case. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) APR Compounding Period Effective Annual Rate 12% 1 month ____% 8% 3 months ____% 10% 6 months ____%
For each of the following, compute the present value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)2021-03-30.png
Your bank will lend you $8,000 for 45 days at a cost of $98 interest. a. What is your annual rate of interest? (Use 365 days in a year. Do not round intermediate calculations. Round the final ant decimal places.) Annual rate of interest b. What is your effective annual rate? (Use 365 days in a year. Do not round intermediate calculations. Round the final ansy decimal places.) Effective annual rate
Your bank will lend you $2,000 for 45 days at a cost of $25 interest. a. What is your annual rate of interest? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual rate of interest _____% b. What is your effective annual rate? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Effective annual rate _____%