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Question 21 (1 point) Acredit card company charges its customers an annual interest of 17.5% on the outstanding monthly balance. Calculate the effective annual interest
Question 21 (1 point) Acredit card company charges its customers an annual interest of 17.5% on the outstanding monthly balance. Calculate the effective annual interest rate. 1) 18.97% O2) 19.02% 3) 23.14% O4) 37.24% Question 22 (1 point) CASH BUDGET (spreadsheet analysis - refer to your handout for guidance). The following is a partially completed worksheet for a cash budget. The required minimum cash balance per month is $20,000 and the beginning cash balance is $22,000. Interest rate on any new short-term loan is 0.5% per month. Use the data for the next set of questions. First, calculate total cash collection for the month of JUNE Mar Apr May $100.000 $150,000 $0.00 $330.000 $10,000 $200.000 Preces Cathcote Current TON Inther 10 TONIC Total Centimentare 100 160.000 1107.000.000 $100.000 $13.000.000 3.77.000 596.000 377,000 $100,000 $140.000 17.500 72.000 Mer A May Ce collection for Cebu Photo Talent Toteut 45.500 11 000 33001 45.500 11 000 1) $107.000 2 $160,000 3) $138.000 4) $185.000 5) 5105.000
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