Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. principle of finance 1. fanny received a credit ca

Principle of Finance 1. Fanny received a credit card with 18% nominal interest rate. With...

60.1K

Verified Solution

Question

Finance

Principle of Finance 1. Fanny received a credit card with 18% nominal interest rate. With the card she purchased a ticket to Angkor Wat for $ 2500. Minimum payment on the card is $49 per month. If she makes the minimum monthly payment (and makes no other payments), how long (months) before she pays off the $2,500? 2. Juanita Sister Inc, has DSO of 40 days with annual sale of $2.5 million. What is its Account receivable balance? There are 365 days in a year. 3. What is the Present Value of annuity due of $1,400 per year of 10 years at 10% with discounting occurring once a year? 4. Find the PV, for $1,500 due in 10 years at 6% (discounted annually). 5. Find the FV, for initial $1,500 compounded for 10 years at 6% (compounding annually). 6. Ogel has $2,000 in his bank account, and plans to add $5,000 at the end of each future years until it reaches $250,000. He expect to earn 7% annually on the account, How many months or years will it take to reach his goal? 7. Bank Zimba pays 5% interest computed annually on deposits, while Bank Mozam pays 4.75% computed daily. Which bank should you use based on ERA (calculation may have to be out of four decimal points)? Please show the necessary calculation.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

On January 1, 2018 WAG entered into a non-cancellable leaseagreement with PE for the...

Accounting
Q

A 26 year old athlete is in the laboratory for a sports examination. He is training...

Medical Sciences
Q

the statement is true or false and then explain why. In a comparison between the DNAs...

Biology
Q

Each week coaches in a certain football league face a decision during the game. On? fourth-down,...

Basic Math
Q

Find acceleration of block in given figure 1 6 m s 3 1 m s...

Physics
Q

Factor the expression and use the fundamental identities to s 4 sin x csc x...

Geometry
Q

3. Complete the following table by converting from exponential form to logarithmic form or from...

Basic Math
Q

12 60 120 43 22 946 55x105 5 775 Joey and Andy go to a...

Algebra
Q

Problem 2. Fulcrum Industries manufactures dining chairs and tables. The following information is...

Accounting
Q

Prepare a "Cash Flow Budget" for the Too Bicycle Manufacturing Company. The owner will be...

Accounting
Q

Dried Fruit Corp. has had a valid S Corp election in effect at all times...

Accounting
Q

Name three (3) different companies with which you are familiar, preferably in different industries. By...

Accounting