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Sidney took a $600 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived.
a) What was the cash advance fee? (Round your answer to 2 decimal places.)
b) What was the interest for one month at an APR of 18 percent? (Round your answer to 2 decimal places.)
c) What was the total amount she paid? (Round your answer to 2 decimal places.)
d) What if she had made the purchase with her credit card and paid off her bill in full promptly? Assume the credit card has a grace period. (Round your answer to 2 decimal places.)
KCCO, Inc., has current assets of $5,200, net fixed assets of $25,200, current liabilities of $4,250, and long-term debt of $9,400. What is the value of the shareholders’ equity account for this firm?
How does interest rate risk differ from market risk? You are the risk manager for a $2 billion portfolio of auto loans. Provide some discussion of how you might mitigate this risk.
Under what circumstances may a subcontractor secure a guaranteed loan? The Changes clause provides that, “any claim by the contractor for adjustment under this clause must be asserted within ______ from the date of receipt by the contractor or notifi..
The ABC Auto Service Center currently employs 5 technicians. With this crew, they can process 100 customers per day. The hourly wage rate for the technicians is $25: the overhead cost is 2 times the labor cost, and materials cost is $5 per customer, ..
Working capital: Winston Electronics reported the following information at its annual meetings. What is the company’s net working capital?
A common stock is held for four years, during which time it receives an annual dividend of $7. The stock was sold for $100 and generated an average return of 9%. What price was paid for the stock?
Day's sales in receivables: A company has net income of $186,000, a profit margin of 7.9 percent , and accounts receivable balance of $123840. Assuming 70 percent of sales are not credit, what is the company's days' sales in receivable?
The risk-free rate is currently 2.8%. In one year the price of a given share of stock that currently trades at $40 per share is expected to either increase by 8% or decrease by 2%. What is the current value of a call on this stock with exercise price..
Constant Growth Valuation Crisp Cookware's common stock is expected to pay a dividend of $2.75 a share at the end of this year (D1 = $2.75); its beta is 1.15; the risk-free rate is 4.4%; and the market risk premium is 5%.
Aspin Corporation’s charter authorizes issuance of 2,900,000 shares of common stock. Currently, 1,200,000 shares are outstanding, and 400,000 shares are being held as treasury stock. The firm wishes to raise $104,500,000 for a plant expansion.
What is the flotation cost adjustment that must be added to its cost of retained earnings?
Agatha Concrete Company has been offered by its bank to manage its cash at a cost of $35,000 per year. Under the proposed cash management, the firm can reduce the cash required on hand by $180,000. What recommendation would you give the firm with res..
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