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Question a) You borrow N900,000 from your bank for 1 year at 20% annual interest. The bank requires that you maintain a minimum balance of N15,000 in the account at all times. The bank also imposes a Handling Charge of N5,000 for processing the loan. Compute the effective interest rate on the loan.
Question b) How much should you pay today for a promise to receive N1 million in 10 years if the prevailing rate of interest is 15% today and is expected to prevail during the 10 years?
Question c) You deposited N500,000 in your bank account and after 5 years the deposit had grown to N805,500. At what rate of interest had the bank been compounding the interest yearly on the deposit?
How to Demonstrate present value of $10,000 received at start of every year for 20 years if interest rate is J1 = 12% p.a. and if the first payment of $10,000
The following information was taken from Nash, Inc.'s trial balances as of December 31, 2008, and December 31, 2009. Calculate the net profit margin and accounts receivable turnover for 2009.
Product Pricing: Two Products Quality Data manufactures two products, CDs and DVDs, both on the same assembly lines and packaged 10 disks per pack. The predicted sales are 400,000 packs of CDs and 500,000 packs of DVDs.
Assume that Corey Jones, account payable clerk for Matthew Davidson Computers, stole $59,456 by paying fictitious invoices for goods that were never received. The clerk set up accounts in the manes of the fictitious companies and cashed the checks at..
How much can Benjamin deduct in 2012 - What is the AMT adjustment that results from Chervaughn exercising the ISO
sales budget has been prepared for April. Management wants the amount of ending inventory each month to be equal to 10% of that month's cost of goods sold.
Find what is the future value of his investment cash flows at the end of three years? If he can earn 7.5 percent on any investment that he makes.
Compute the revenue to be recognized in fiscal year 2014 for each of the three operating divisions of Van Hatten in accordance with generally accepted accounting principles.
Americans are known for their long-term love affair with their cars. But as gasoline prices soar and concern about the environment mounts, the need to conserve gasoline has become increasingly clear. What would it take to reduce the overall demand fo..
Explain why do you think larry stone wants to estimate the firm's hrdle rate? Is it justifiable to use the firm's weighted average cost of capital as the divisional cost of capital?
According to AASB 112, the prepayment of rent of $2,000 that is claimed as a tax deduction immediately upon payment (assuming an income tax rate of 30%) will give rise to:
The Martins file a joint return. Their AGI is $367,050. The Martins report the following amounts on Schedule A: home mortgage interest, $12,920; real estate taxes, $5,100; and $7,000 of cash gifts to qualified charities
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