Compute the specified quantity

Assignment Help Financial Management

Reference no: EM13731522

Compute the specified quantity.

You are expecting a tax refund of $1,000 in 10 weeks. A tax preparer offers you an "interest-free" loan of $1,000 for a fee of $50 to be repaid by your refund check when it arrives in 10 weeks. Thinking of the fee as interest, what simple interest rate would you be paying on this loan? (Round your answer to three decimal places.)

Reference no: EM13731522

Questions Cloud

What is the amount of the firms net working capital : Scare Train, Inc. has the following balance sheet statement items: current liabilities of $809,241; net fixed and other assets of $1,725,030; total assets of $3,387,220; and long-term debt of $692,715. What is the amount of the firm’s net working cap..

Increase a firms net cash flow and new long-term bonds : Which of the following would increase a firm's net cash flow? A firm issues $100 million of new long-term bonds. These bonds have a coupon interest rate of 5%. Which of the following statements must be true if the firm uses all of the money raised to..

What is the amount of the firms total stockholders equity : Purple Dalia, Inc. has the following balance sheet statement items: current liabilities of $605,742; net fixed and other assets of $1,990,510; total assets of $3,013,480; and long-term debt of $728,980. What is the amount of the firm’s total stockhol..

What is the amount of the firms current assets : Killer Whale, Inc. has the following balance sheet statement items: total current liabilities of $885,517; net fixed and other assets of $1,698,610; total assets of $2,852,030; and long-term debt of $655,703. What is the amount of the firm’s current ..

Compute the specified quantity : You are expecting a tax refund of $1,000 in 10 weeks. A tax preparer offers you an "interest-free" loan of $1,000 for a fee of $50 to be repaid by your refund check when it arrives in 10 weeks. Thinking of the fee as interest, what simple interest ra..

Understanding of the changing nature of work : Effective human resources professionals have a solid understanding of the changing nature of work and the workplace. Compare and contrast the evolution of work and the workplace over the past 20 years and how it has impacted human resources.

Develop competitor and competitive benchmarking : Develop Competitor and Competitive Benchmarking and Segmentation Strategies with Analysis of Two Competitors

Promote and attract customers for their business : In this part owner wants to provide services to customers, like corporate outings, private events, leagues. Owner wants to take care about the customer attraction it will really help him to promote and attract customers for their business

Gain or loss does he recognize in liquidation : ABC Partnership distributed land with basis of $12,100 and FMV of $20,000 to Partner A in liquidation of his partnership interest. Partner A's basis in his partnership interest before the distribution was $13,700 and includes $5,000, his share of par..

User Account

All Pages