User Account

All Pages

Calculate the rate of return if the money is lent to simone

Assignment Help Accounting Basics
Reference no: EM131746296

A friend has $5,000 that has been saved from her part-time job. She will need her money, plus any interest earned on it, in six months and has asked for your help in deciding whether to put the money in a bank savings account at 3.5% interest or to lend it to Simone. Simone has promised to repay $5,200 after six months.

Required:

a. Calculate the interest earned on the savings account for six months

b. Calculate the rate of return if the money is lent to Simone. Round your percentage answer to two decimal places

c. Which alternative would you recommend? Explain.

Reference no: EM131746296

Questions Cloud

Provide reaction to characteristics of coaching in workplace : Provide a one page reaction to the key characteristics of coaching in the workplace and some of the fallacies related to coaching in the workplace.
What impact could a poor quality product have on a company : What impact could a poor quality product have on a company? How does reputation help a company to be more competitive?
Describe specific quantitative methods that could be used : Describe specific quantitative methods and tools that could be used within your discipline to gather data. Include your rationale.
Consumer and shareholder protection : You are tasked with writing a blog post discussing Facebook's stance on consumer privacy in the digital age.
Calculate the rate of return if the money is lent to simone : Calculate the rate of return if the money is lent to Simone, Which alternative would you recommend. Explain
Explore specific experimentation and observational methods : Explore specific experimentation and observational methods that could be used within your discipline to gather data. Include your rationale.
Determine the current organizational structure is a good : Determine whether the current organizational structure at Domino's is a good match for its corporate strategies. Explain your rationale.
What is the probability that a bow weight is unacceptable : What is the probability that the weight of a randomly selected ironwood bow is between 58 and 62 grams - Is there any evidence to suggest the mean weight
Compare strategic controls and financial controls : Compare and contrast strategic controls and financial controls. Provide specific examples of how each may be used to best serve a corporation.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journalize transactions for gagon general journal

Record each of the following transactions in Gagon's general journal-1. Issued capital stock for $75,000 cash. 2. Borrowed $35,000 from a bank. Signed a note to secure the debt.

  What would the cost schedule of cost of goods manufactured

what would the cost schedule of cost of goods manufactured look like and what does the income statement for cost of

  One of our closest stellar neighboursvega is 58 light years

one of our closest stellar neighbours.vega is 5.8 light years away.it has been suggested that tv programs from our

  What criteria are relevant to the selection of allocation

What criteria are relevant to the selection of allocation bases for support department cost allocation

  Biggie company performed its annual physical inventory

1.At the end of 2013, the Biggie Company performed its annual physical inventory count.

  Review case about the internet payments

Mary checked and all the credit card numbers are different. How could it be determined whether the Internet payments are the basis for a money laundering.

  Describe how the cost information

One of the most difficult parts of ownership and management is making decisions. Much of cost accounting relies on the ability to gather the cost detail in an effort to support these difficult decisions from management.

  The service company excellent maids cleans hotel rooms at

the service company. excellent maids cleans hotel rooms at resorts on hilton head island. excellent has identified

  What is the liability recorded in the financial statements

ABC Ltd grants 20 share appreciation rights to each of its 500 employees on 1 January 20X1. What is the liability recorded in the financial statements for year

  Assume that ibm leased equipment that was carried at a cost

assume that ibm leased equipment that was carried at a cost of 150000 to sharon swander company. the term of the lease

  End of the fiscal period

Suppose that nominal accounts are not closed out at the end of the fiscal period. Explain how this affects account data for the next fiscal period. Use a company or industry to help explain your answer.

  What is sully order point

It usually takes ten days from time Sully orders material to when it is received. If Sully's desired safety stock is 12,000 yards, what is Sully's order point

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd