What is the effective interest

Assignment Help Financial Management
Reference no: EM131175400

A man has a simple discount note for?

$6000 at an ordinary bank discount rate of 8.53 % for 60 days.

What is the effective interest? rate? Round to the nearest tenth of a percent.

Reference no: EM131175400

Questions Cloud

How will you be able to tell if your business is successful : How will you be able to tell if your business is successful? What accounting knowledge do you think you will need to have? What do you think will be your biggest accounting challenges? Why?
What approaches could have yielded valuable information : How did participating in discussions help your understanding of the subject matter? Is anything still unclear that could be clarified?
Review the income statement and balance sheet of the company : Review the income statement and balance sheet of the selected organization. What is your overall initial impression of the company based on the financial data you reviewed?
Decode the string given below : One can now remove this codeword and apply the same decoding rule to the remaining, shorter concatenation of code words.
What is the effective interest : A man has a simple discount note for? - $6000 at an ordinary bank discount rate of 8.53 % for 60 days. - What is the effective interest? rate?
Determine if everyone on the engagement team is independent : The Fresno Freezer Corporation has contracted with YOUCPA for an audit. During the audit, the audit team has asked you to determine if everyone on the engagement team is independent.
How much must he save during each of the next 10 years : To the nearest dollar, how much must he save during each of the next 10 years (with deposits being made at the end of each year)to meet his retirement goal?
Solve a linear optimization model : Formulate and solve a linear optimization model using the auxiliary variable cells method and write a short memo to the production manager explaining the sensitivity information.
Diffie-hellman system to fix a common key : They use GF(p), with p = 54 and primitive element α = 2 User B makes cB = 123 public. If MA = 432 what will be the common key kAB that A and B use for their communication?

Reviews

Write a Review

Financial Management Questions & Answers

  Find the duration and the modified duration

An investment pays 1000 each year for the next three years. An investor has purchased it to yield the annual rate of 8%. Find the duration and the modified duration.

  What are the floatation costs for issuing preferred share

(Cost of preferred stock) The preferred stock of Gator Industries sells for $35.08 and pays $2.71 per year in dividends. What is the cost of preferred stock financing? If Gator were to issue 525,000 more preferred shares just like the ones it current..

  About the foreign tax credit

A firm that earns $1 million before tax in Brazil pays Brazilian tax of $250,000 and remits the remaining $750,000 as a dividend to its U.S. parent. It pays a 5% dividend withholding tax on its remittance. Assuming a US tax rate of 35%, the parent wi..

  Pick the least-expensive car for your new delivery service

You are trying to pick the least-expensive car for your new delivery service. You have two choices: the Scion xA, which will cost $17,500 to purchase and which will have OCF of –$1,900 annually throughout the vehicle’s expected life of three years as..

  Most important operating expenses

One of the most important operating expenses for the Olde Virginia Brick Company is natural gas, which is used to bake and dry the bricks. Natural gas prices have recently been quite volatile, now approaching $6 per mcf. Olde Virginia is bidding on a..

  Determine the premium of european call option mentioned

A European call option allows one to purchase 2 shares of stock B with 1 share of stock A at the end of a year. A European put option which allows one to sell 2 shares of stock B for 1 share of stock A costs 11.5. Determine the premium of the Europea..

  Find the face value of a loan

Mark Golden needs $ 5255.57 to pay for remodeling work. His bank loans money at a discount rate of 9% for 270 days. Find the face value of a loan so he will have $ 5255.57 proceeds at the time of the loan.

  Disadvantages of selling combination of stocks and bonds

The school you would like to attend costs $100,000. To help finance your education, you need to choose whether or not to sell your 1,000 shares of Apple stock, 1,000 EE Savings Bonds. What are the advantages and disadvantages of selling a combination..

  Structure of interest rates becomes inverted

Assume the term structure of interest rates becomes inverted?, with short-term rates going to 14 percent and long-term rates 6 percentage points lower than short-term rates. Earnings before interest and taxes are $1,010,000. The tax rate is 30 percen..

  Current and quick ratios

The Nelson Company has $1,140,000 in current assets and $475,000 in current liabilities. Its initial inventory level is $285,000, and it will raise funds as additional notes payable and use them to increase inventory.

  The common stock of lester lithographic is expected to earn

What is the expected rate of return on this stock?

  Number of motorcycles to expand its delivery service

A florist is buying a number of motorcycles to expand its delivery service. These will cost $87,000, but are expected to increase profits by $3000 per month over the next four years. What is the payback period in this case?

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!

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