Find the effective rate charged by the bank

Assignment Help Business Management
Reference no: EM132406656

Bill Blank signed an $7,060 note at Citizen's Bank. Citizen's charges a 6.20% discount rate. Assume the loan is for 300 days.

a. Find the proceeds. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)

b. Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.)

Reference no: EM132406656

Questions Cloud

At what amount should the land be carried on bravos books : Eight years ago, Bravo company purchased land for $170,000. The current fair market value of the land is $421,0000. the rate of general inflation.
What would be the effective rate of interest : What would be the effective rate of interest? (Use calendar year. Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)
Calculate the amount on the balance sheet : In your audit of Donald Martin Company, you find that a physical inventory on December 31, 2020, showed merchandise with a cost of $399,450.
Identify effective leadership traits : Identify effective leadership traits. Search for 10 business leaders who exemplify the selected leadership traits.
Find the effective rate charged by the bank : Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.)
Consider in order to implement its growth strategy : Discuss what alternatives the company can consider in order to implement its growth strategy.
What is the firm corporate value : If the weighted average cost of capital is 13%, what is the firm's corporate value, in millions?
Book value accounting and market value accounting : What is the difference between book value accounting and market value accounting? What is marking to market?
What is the amount and character of income : Meg and Abby are equal partners in the AM? Partnership, which earns? $40,000 ordinary? income, $6,000? long-term capital gain?, and? $2,000 Sec.

Reviews

Write a Review

Business Management Questions & Answers

  What should supervisors do to effectively communicate

What should supervisors do to effectively communicate while managing a diverse workforce?

  How a company should approach new product development

Discuss how a company should approach New product development - how should look first for product problems/ideas.

  List the different types of reward systems

Consider the different types of reward systems you read about in Chapter 11. Write a one to two page paper including:

  Explain the reason for selecting given topic

Explain the reason for selecting topic one, identify the audience, and provide a preliminary thesis statement. Recognize the elements use of a thesis statement.

  How do you think regression results and arc elasticity

How do you think regression results and arc elasticity measures can be used to derive measures of elasticity, which can then be used to estimate demand?

  Disseminate information to the organisation

1. What type of information needs to be documented in the company's database regularly? 2. Explain how you will design and test systems to meet information requirements of decision makers. 3. Develop a communication plan for the organisation and expl..

  Necessity in the implementation of new policies

1. Do you believe that training is a necessity in the implementation of new policies? Please support your answers. 2. Why are background checks important to information security? What purpose do they serve?

  Selecting a marketing strategy

How to take advantage of the US enormous market and also selecting a marketing strategy that will allow Aboca succeed.

  Prepare a report showing the status of the marching band

You are the assistant to the band director for the Upper Saddle River Marching Band, and you must prepare a report showing the status of the marching band fundraising event for presentation to the board of trustees

  Legal actions or cases that involved managed care

Discuss how these actions or cases impacted access to care or influenced the operations of managed care organizations.

  Design the logic for a program that has two parts

Practice: array minimum, maximum and average Design the logic for a program that has two parts.

  Nonverbal differences that one might encounter

Can you help me with three nonverbal differences that one might encounter if one is transferred to manage a company in Rio de Janeiro, Brazil.

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!

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