User Account

All Pages

Find the effective rate charged by the bank

Assignment Help Finance Basics
Reference no: EM131941203

Bill Blank signed an $7,540 note at Citizen's Bank. Citizen's charges a formula5.mml discount rate. Assume the loan is for 270 days.

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

Proceeds $

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.)

Effective rate  %

Reference no: EM131941203

Questions Cloud

Finance all fixed assets and permanent current assets : As an alternative, Lear might wish to finance all fixed assets and permanent current assets plus half of its temporary current assets with long-term financing
Calculate the discounted benefit of rehabilitating the armor : Calculate the annual present value cost of maintenance (15 years). Given the discounted cost of rehabilitation, what is the cost- benefit ratio for the proposal
Constant dividend-earnings ratio : A new common stock issue that paid a SAR 4.00 dividend last year. The par value of the stock is SAR 13.00, and earnings per share have grown at a rate
Why do you think apple moved from one to three price points : Why do you think Apple moved from one to three price points in 2009? What types of songs do you think Apple tends to sell at the lower prices?
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.)
Describe your needs and find a comparable solution : This tool provides one point of reference assisting you in making your decision as to which alternative solution is the best.
How do producers in each market maximize profit : How do producers in each market maximize profit? Examining the nuances of perfect competition, monopoly, and monopolistic competition?
Account the thirty year period : Marci invests $50,000 in an account earning 3% interest per year. How many $ will she have in his account in thirty years?
Explain why a bad outcome can occur from a good decision : Explain why a bad outcome can occur from a good decision. Can a firm benefit from a transaction that produces a negative expected return? Explain.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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