Question
NEED ANSWERS WITHIN 30 MINUTES -- 2 questions here (Multiple choice answers are at the bottom) 10. Acme Co.has a $100,000 line of credit at
NEED ANSWERS WITHIN 30 MINUTES -- 2 questions here (Multiple choice answers are at the bottom)
10.
Acme Co.has a $100,000 line of credit at an annual rate of interest of 9.5 percent. The loan agreement also requires a 4 percent compensating balance on any funds used. What is the effective annual interest rate if the firm needs $60,000 for the entire year to fund its operations? 9.81% 9.50% 9.74% 9.90% 9.62%
Teddy's Pillows had beginning net fixed assets of $600 and ending net fixed assets of $680. Assets valued at $400 were sold during the year. Depreciation was $50. What is the amount of net capital spending? $80 $130 $450 $180 $350
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started