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Simon recently received a credit card with an 18% nominal interest rate. With the card, he pruchased an Apple Iphone 5 for $372.71. The minimum payment on the card is only $10 per month.
a. If Simon makes the minimum monthly payment and makes no other changes, how many months will it be before he pays off the card? Round to the nearest month.
b. If Simon makes monthly payment of $35,how many months will it be before he pays off the debt? Round to the nearest month.
c. How much more in total payments will Simon make under the $10-a month plan than under the $35-a-month plan? Make sure you use three decimal places for N.
Prepare the journal entry for the payment of interest and the amortization of discount on December 31, 2012 (the third year), and determine the balance sheet presentation of the bonds on that date.
multiple choice questions on strategic financial planning.1.nbspthe strategic financial plan rests which of the
preparation of bank reconciliation and passing required adjusting entries.nbspbank reconciliation and adjusting entries
Dividend will be paid in one year then grows by 5% each year for the next four years. Assume interest rate is 6% per year. At what price would you have to sell the stock in five years in order to break even?
Evaluate the selling price per unit. Which of the following is not a difference between financial accounting and managerial accounting?
Discuss the pros and cons of the U.S. Federal Government guaranteeing the pension funds of a private company when it declares bankruptcy. Discuss whether the U.S. Federal Government should guarantee and state your rationale.
Evaluation of internal control criteria and For each of these five separate cases, identify the principle of internal control that is violated.
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question evaluate the market value of the given bond8 bonds of 150000 sold 30 months after bond issue date. 15-year
Comparative balance sheets for 2013 and 2012 and a statement of income for 2013 are given below for Metagrobolize Industries. Additional information from Metagrobolize's accounting records is provided also. METAGROBOLIZE INDUSTRIES
Determine the amount of the amortization, depletion, or impairment for the current year for each of the foregoing items and illustrate the effects on the accounts and financial statements of the adjustments for each item.
Purchased inventory that cost $2,200 on account from Blue Co. under terms 1/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $110 were paid in cash
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