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Sidney took a $600 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived.
a) What was the cash advance fee? (Round your answer to 2 decimal places.)
b) What was the interest for one month at an APR of 18 percent? (Round your answer to 2 decimal places.)
c) What was the total amount she paid? (Round your answer to 2 decimal places.)
d) What if she had made the purchase with her credit card and paid off her bill in full promptly? Assume the credit card has a grace period. (Round your answer to 2 decimal places.)
Who does the clientele effect relate to the corporate check and balance? Florence transferred $300,000 to an irrevocable trust for her two children. She granted them a noncumulative right to withdraw the greater of $5,000 or 5% of trust assets each y..
If you were going into business for yourself what would be your core capabilities? What capabilities do you have now, and what capabilities are you going to develop? Describe what your role would be in a network organization, and the capabilities and..
The government of Washlovia wants to impose a tax on clothes dryers. - Where will the tax inefficiency be greater? Explain.
You are evaluating two different silicon wafer milling machines. The Techron I costs $213,000, has a three-year life, and has pretax operating costs of $54,000 per year. The Techron II costs $375,000, has a five-year life, and has pretax operating co..
At year-end 2013, Wallace Landscaping’s total assets were $1.5 million and its accounts payable were $415,000. Sales, which in 2013 were $2.6 million, are expected to increase by 30% in 2014. What were Wallace's total liabilities in 2013? What was Wa..
Calculate the implied repo rate for the March June 2011 Treasury bond futures spread. If the actual forward repo rate is 4 percent, what do you recommend?
Joan purchases a 30 year Federal Government bond for $10,000 that pays 4 percent annual interest. Jim purchases $20,000 worth of 30 year Corporate bonds that pay 7 percent annual interest. Joan's goal is to earn $400 per year on her investment, and J..
Prepare journal entries to: - Accrue the salaries payable on December 31: - Close the Salaries Expense account on December 31.
A dividend policy represents the firm’s plan of action to be followed whenever it makes a dividend decision. What are the five factors in establishing a dividend policy?
To estimate the cost of capital, you have been provided with the following data: rRF = 5.00%; the market return is 11.00%; and Beta = 1.0. Based on the CAPM approach, what is the cost of equity? -------- 5.0% 6.0% 10.4% 11.0%
When considering the difference between return on assets (ROA) and return on common shareholders' equity (ROE), Preferred dividends are deducted from the numerator when calculating ROE, but not when calculating ROA.
Preliminary plans are underway for construction of a new stadium for a major league baseball team. City officials question the number and profitability of the luxury corporate boxes planned for the upper deck of the stadium. What is the breakeven poi..
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