FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kacies has an average collection period of 23 days and factors all receivables immediately at a discount of .95percent. What is the effective cost of

Kacies has an average collection period of 23 days and factors all receivables immediately at a discount of .95percent. What is the effective cost of borrowing? Assume that default is extremely unlikely.

16.32 percent

16.28 percent

16.49 percent

16.52 percent

16.36 percent

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

To avoid difficulties with the federal or provincial and local consumer protection agen- cies, a beverage bottler must make reasonably certain that 355 millilitre (mL) bottles actually contain 355 mL...

Answered: 1 week ago

Question

★★★★★
Cates Computing Systems develops and markets commercial software for personal computers and workstations. Three situations involving compensation for possible future absences of Cates's employees are...

Answered: 1 week ago

Question

★★★★★
Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current...

Answered: 1 week ago

Question

★★★★★
Charleston's available-for-sale debt security investments, purchased 1/1/20, total these amounts: Cost: $40,000 Fair Value @ 12/31/20: $42,000 Fair Value @ 12/31/21: $35,000 Proper adjusting journal...

Answered: 1 week ago

Question

★★★★★
Level 3: Write a program that alternates between the blue LED1 and red LED2, to simulate an emergency vehicle.

Answered: 1 week ago

Question

★★★★★
The figure shows a mechanism comprising two members AB and BD. Collar C is fastened to the mid point of member BD. If collar C moves freely along the rod with a constant velocity vc = 5 m/s ()....

Answered: 1 week ago

Question

★★★★★
1.A customer requires a hub-and-spoke Auto VPN deployment with two NAT-mode hubs with dual uplink connections and 50 remote sites with a single uplink connection. How many tunnels does each hub need...

Answered: 1 week ago

Question

★★★★★
Write this assignment in two parts. Organize each part with one introduction, main section answering all questions, and one conclusion. All references should be on the last page under references....

Answered: 1 week ago

Question

★★★★★
The file weather.json is a good representation of how dictionaries are used to display complex data. A large number of datasets are publicly available at data.gov. Two of the most popular formats on...

Answered: 1 week ago

Previous Question Next Question