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Simon recently received a credit card with an 18% nominal interest rate. With the card, he purchased an Amazon Kindle for $400. The minimum payment on the card is only $20 per month.
a) If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card?
b) If Simon makes monthly payments of $60, how many months will it be before he pays off the debt?
c) How much more in total payments will Simon make under the $20-a-month plan than under the $60-a-month plan.
Prepare a post closing trial balance from given trail balance and adjustments - prepare a post closing trial balance
Budgeting is an important section of an management planning. Using budgeting, every part of an management structure can be identified for decision making & controls.
Develop three specific objectives within each of the four perspectives for the unit. Each objective should have at least one quantified target metric associated with it.
Taylor Systems has just issued preferred stock. The stock has a 12% yearly dividend and a $100 par value and was sold at $97.50 each share. In addition, flotation costs of $2.50 each share must be paid.
Find the source of funds for decision making - If interest rates were expected to increase, which plan would you recommend? Why?
How much should you place in the retirement fund each year for the next 20 years to reach your retirement goal, assuming you can earn 12% per year on your retirement fund investment? Show your formulas and input
Past year, you received a nominal rate of return of 9.25% on your bond investments. During that time, inflation rate was 2.45%.
In addition to the regular payments and how many more months we need to keep paying to amortize the loan.
Not-for Profit Analysis optimal patient level under different plans - Calculate these levels under plan A
Helen recently get a credit card with a nominal interest rate of 21%. With the help of card, she buy some new clothes for 250 dollar. The minimum payment on the card is only 20 dollar every month.
Belton is issuing a 1,000 dollar par value bond that pays 7% yearly interest and matures in 15 years. Investors are willing to pay $958 for the bond.
Financial statement analysis by ratio analysis of given data and Which company has the higher profit margin and Which company has the higher investment turnover?
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