Smith has just filed an income tax return and is expecting to receieve, in 60 days, a refund check of 1000.
(a) The tax service that helped Smith fill out his return offers to buy Smith's refund check from him. Their policy is to pay 85% of the face value of the check. What annual simple interest rate is implied?
(b) Smith negotiates with the tax service and sells his refund check for 900. To what annual simple interest rate does this correspond?
(c) Smith decides to deposit the 900 in an account which earns simple interest at an annual rate if 9%. What is the accumulated value of his account on the day he would recieve his tax refund check?
(d) How many days would it take from the time of his intial deposit of 900 for the account to reach 1000?
Change in inventories equals the difference between: a) production and sales. b) production and investment. c) investment and depreciation. d) sales and investment.Jun 07 2020
If x = cos t+isin t find the value of x^n+(1/x^n) >Aug 05 2020
State the objective of a group support system (GSS) and identify three characteristics that distinguish it from a DSS.View Solution: State the objective of a group suppo...Jul 13 2020
Break-even analysis is an important tool for managing any business, including colleges and universities. In a group, identify three areas where break-even analysis might ...May 12 2021
On January 1, 20X5, Pond Corporation acquired 80 percent of Skate Company s stock by issuing common stock with a fair value of $180,000. At that date, Skate reported net ...Apr 22 2020
While defining the concept of market efficiency, briefly describe the theoretical basis of measuring efficiency under a perfectly competitive market. 2.If the real wage r...Apr 19 2020
If a household's income doubles, its budget constraint will Not yet answered Marked out of 1.00 Select one: a. pivot at the Y-intercept. Flag question b. shift out paral...Apr 07 2021
For each account type, indicate whether each account listed below is ordinarily has a debit or a credit balance. A. Advertising Expense B. Accounts Payable C. Retain...May 30 2018
The following selected transactions occurred for BleumortierCorporation. The company has a March 31 year end and adjustsaccounts annually. >Jan.5Sold $18,000 of merchandi...Jun 11 2021
Henderson Manufacturing Inc. manufactures electric scooters. The company currently makes all of the electronic components for the scooter itself. When 6,000 motors are ma...Jan 09 2020