Dome Metals had credit sales of $180,000 yearly. Dome offered a 3 percent discount for payment in 18 days. What would the average receivables balance be?
Answer to relevant QuestionsDome Metals had credit sales of $180,000 yearly with credit terms of net 60 days, which is also the average collection period. If Dome offered a 3 percent discount for payment in 18 days and every customer took advantage of ...How is the future value (Appendix A) related to the present value of a single sum?You will receive $6,800 three years from now. The discount rate is 10 percent.a. What is the value of your investment two years from now? Multiply $6,800 × .909 (one year’s discount rate at 10 percent).b. What is the ...You invest a single amount of $10,000 for 5 years at 10 percent. At the end of 5 years you take the proceeds and invest them for 12 years at 15 percent. How much will you have after 17 years?At a growth (interest) rate of 10 percent annually, how long will it take for a sum to double? To triple? Select the year that is closest to the correct answer.
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