5- For the year just ended, XYZ Inc. had average accounts receivable of $925,000 and total credit sales of $4,200,000. Throughout the year, a factor purchased accounts receivable from the firm at a 3.5% discount. What was the firm's effective interest rate paid on its receivables financing? A) 11.6% B) 13.4% C) 15.7% 16.3% E) 17.6% 6- (2 points) It is March 1, 2021. A firm expects sales over the next 4 months to be as follows: Month March April May June Sales Amount $130,000 $80,006 $90,000 $95,000 Sales in January and February were $100,000 and $120,000 respectively. Twent ve percent of these sales will be collected in the month of sale, 35% will be collected in the first month after sale, and 40% will be collected two months after sale. The firm purchases inventory of 70% of next month's expected sales for cash. Wages are $45,000 per month. Depreciation is $30,000 in March, April and May. Currently, $7,000 of cash is on hand. A minimum cash balance of $10,000 is required. What is the cash surplus or deficit for the month of April? A) Surplus of $10,500 Surplus of $16,000 Surplus of $7,000 Deficit of $4,580 Deficit of $2,280 7-Bank A quotes you that $1 will buy 2 Mexican pesos or 5 Norwegian krone. At the same time, bank B provides you a quote of 3 pesos to buy 5 krone. Thus, there exists a potential for immediate profit via A) international Fisher effect B) covered interest arbitrage C) an interest rate swap D) triangle arbitrage E) uncovered interest parity