For the last 12 years, Rudolph has been receiving a 30/20/10 series discount. Find the equivalent single discount rate.
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- For the last 12 years, Oscar has been receiving a 25/10/5 series discount. Find the equivalent single discount rate.1000 dollars is deposited into an account at the beginning of the year and the value at the end of five years is 1276.30. The effective yearly discount is?To purchase a product, Luiz chose to pay in 9 installments that followed an inverted arithmetic progression rhythm: The first installment of R$900, the second of R$800, and so on until the ninth installment of R$100. The store's TMA is 9% per year, how much would the installments be if Luiz chose to pay via an equivalent uniform series?
- Blake Miller recently received his monthly MasterCard bill for the period June 1-30, 2021, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 23 percent per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows: Previous Balance: $303 Purchases: Payments: June 4 $111 June 21 $35 June 12 $45 June 20 $127 June 26 $43 What are his ADB and finance charges for the period? (Use a table like the one in Exhibit 6.7 for your calculations.) Round the answers to the nearest cent. ADB: $ Finance charges: $Trish receives $450 on the first of each month. Josh receives $450 on the last day of each month. BothTrish and Josh will receive payments for next four years. At a discount rate of 9.5 percent, what is thedifference in the present value of these two sets of payments?Select one:a. $151.06b. $141.80c. $162.50d. $159.08e. $154.30Taylor Company provides the following information: Annual credit sales : $ 24,000,000Collection period : 3 monthsTerms : net/30Rate of return : 18% The company is considering changing the credit discount policy to 4/10, net 30. The company anticipates that thirty percent of consumers will take the discount. The receivable collection period is expected to be reduced to 2 months. Should the discount policy be implemented? Explain with calculations.
- The collection of a 1200 account after the 2 percent discount period will result in aKumi Ltd permits its customers to pay with a credit card or to receive a percentage discount ? for paying cash. For credit card purchases, the company receives 97% of the purchase price one-half month later. Determine the value of ? that would make the two payment methods equivalent if the company’s annual rate of return is 14%.PLEASE SHOW ALL WORK For the last 15 years, Tina has been receiving a 20/15/5 series discount. Find the equivalent single discount rate.Step 1 (complements) Step 2 (multiply complements) Step 3 (complement of Step 2)
- Suppose Katy borrowed some amount of money for 98 weeks and Anastasia borrowed the same amount. Katy's loan used the simple interest model with an annual rate of 5.3% while Anastasia's loan used the simple discount model with an annual discount of 9.3%. At the end of their respective terms, Katy's maturity value was $5,861 while Anastasia's was $6,098. How many weeks was Anastasia's loan for? Round your answer to the nearest week.What is the present value of a $360 payment in one year when the discount rate is 9 percent? (Round your answer to 2 decimal placesWhat’s the equivalent interest rate to the terms 3/20, n/60? In other words, what is the effective annual rate that is "given" to a customer for this cash discount? (Use 365 days.) HINT: Use the I = P x R x T formula where R = I/PT and choose some value for the gross amount of the invoice (i.e $1,000). Label (%) and round to the nearest whole percent.