QUESTION 6 This year your company has $34 million of credit sales and average receivables of $7 million. Your company factor receivables by discounting 1%. What is the APR of factoring the receivables? O 1.01% O 1.00% 4.91% O 5.00% O 4.80%
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- This year your company has $34 million of credit sales and average receivables of $7 million. Your company factor receivables by discounting 1%. What is the APR of factoring the receivables? A 1.00% B 1.01% C 4.80% D 4.91% E 5.00%Your credit card company charges you 1.32 percent per month. What is the APR on your credit card?Multiple Choicea. 17.04%B. 16.44% C. 17.89%D. 15.05%E. 15.84%Item 2 of 25 Sixty percent of Jesse's annual sales of P900,000 is on credit. If its year-end receivables turnover is 4.5, what is the average collection period and the year- end receivables, respectively (assume a 365-day year)? Select the correct response: 73 days and P108,000. 81 days and P200,000. 73 days and P120,000. 81 days and P120,000.
- Your company has been offered credit terms on its purchases of 4/30, net 90days. What will be the nominal annual cost of trade credit if your companypays on the 35th day after receiving the invoice? (Assume a 365-day year.)a. 30%b. 304%c. 3%d. 87%e. 156%Find the APR (true annual interest rate), to the nearest half percent, for the following loan. Finance Number of Monthly Payments Charge $1110 Amount Financed $5700 48 Click the icon to view the annual percentage rate table. The annual percentage rate is %.MULTIPLE CHOICE Milch Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P650,000, what is the company’s average investment in accounts receivable? *A. P168,611.11B. P178,611.11C. P188,611.11D. P244,444.00E. P198,611.11
- A company has a collection period of 40 days and factors all receivables immediately at a discount of 1.8 percent. What is the effective annual cost of borrowing? Assume 365 days per year. Multiple Choice 18.03% 16.70% 17.68% 15.71% 16.73% Please answer fast i give you upvote.so.4 A credit card has a $730 balance and a 18.44% annual percentage rate the minimum required monthly payment is 2.83% of the balance estimate the credit card balance after 54 payments.What is the annual rate of interest being charged on a 9-month note receivable of $54,000 if the total interest is $1,620? Multiple Choice O 4% 3% 6% 7%
- Question 1Kumi 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%Lily Corp. Corp. sells on term 2/20, net 40. Total credit sale for the year are P180,000. 40% pays on the 20th day and take discounts while the rest pay on the due date. What is the average amount of accounts receivable? (Use 360-day year) a. 16,000 b. 36,667 c. 26,667 d. 12,000Question 1 Kumi Ltd permits its customers to pay with a credit card or to receive a percentage discount x for paying cash. For credit card purchases, the company receives 97% of the purchase price one-half month later. Determine the value of x that would make the two payment methods equivalent if the company's annual rate of return is 14%. (4 morks)