Horizon Telecom sold $300,000 worth of 120-day commercial paper for $298,000. What is the dollar amount of
Question:
Horizon Telecom sold $300,000 worth of 120-day commercial paper for $298,000. What is the dollar amount of interest paid on the commercial paper? What is the effective 120-day rate on the paper?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
Interest 30000...View the full answer
Answered By
Ehsan Mahmood
I’ve earned Masters Degree in Business Studies and specialized in Accounts & Finance. Couple with this, I have earned BS Sociology from renowned institute of Pakistan. Moreover, I have humongous teaching experience at Graduate and Post-graduate level to Business and humanities students along with more than 7 years of teaching experience to my foreign students Online. I’m also professional writer and write for numerous academic journals pertaining to educational institutes periodically.
4.90+
248+ Reviews
287+ Question Solved
Related Book For
Principles Of Managerial Finance
ISBN: 978-0136119463
13th Edition
Authors: Lawrence J. Gitman, Chad J. Zutter
Question Posted:
Students also viewed these Finance questions
-
horizon telecom sold $ 300,000 worth of 120 day commercial paper for $298000. what is the dollar amount of interest paid on the commercial paper? what is the effective 120 day rate on the paper?
-
What is the dollar amount of the firms current bad debt losses? What losses would be expected under the new policy? Rich Jackson, a recent finance graduate, is planning to go into the wholesale...
-
What is the dollar amount of Joels return (see problem 1)? In Problem 1. Joel purchased 100 shares of stock for $ 20 per share. During the year, he received dividend checks amounting to $ 150. Joel...
-
Using the following information, determine the activity rate for the quality inspections activity. Budgeted Activity Cost Pool Activity Setups Estimated Activity Base 1,000 $60,000 Purchase orders...
-
At January 1, 2015, Youngstown Limited reported the following property, plant, and equipment accounts: Accumulated depreciation-buildings................. $ 62,200,000 Accumulated...
-
Dahl and Westhoff have decided to form a partnership. They have agreed that Dahl is to invest $400,000 and that Westhoff is to invest $100,000. Dahl is to devote one-third time to the business, and...
-
State and describe three major classification of I.C. engines.
-
A chemical company has a commodity-grade and premium-grade product. Why might the company elect to process the commodity-grade product further to the premium-grade product?
-
The information for Bland Media Company at the end of the fiscal year, June 30, 20X8 are listed in this spreadsheet . Additional information: Capital were $145000 at May 1, 20X7, additional capital...
-
The Wearever Carpet Company manufactures two brands of carpetshag and sculpturedin 100-yard lots. It requires 8 hours to produce one lot of shag carpet and 6 hours to produce one lot of sculptured...
-
Jackson Industries has borrowed $125,000 under a line-of-credit agreement. While the company normally maintains a checking account balance of $15,000 in the lending bank, this credit line requires a...
-
Determine when a firm must pay for purchases made and invoices dated on November 25 under each of the following credit terms: a. Net 30 date of invoice b. Net 30 EOM c. Net 45 date of invoice d. Net...
-
Have you or someone you know ever been prescribed a psychotropic medication? If so, what side effects were associated with the treatment?
-
A magnet of mass 7 . 3 1 kg is suspended from the ceiling by a cord as shown. A large magnet is somewhere off to the right, pulling on the small hanging magnet with a constant force of F = 1 1 9 . 3...
-
A Honda Fit (mass = 1000 kg) and a Volvo XC40 Recharge (mass = 2000 kg) are both going 15 m/s when they see the light ahead turn red, so the drivers must bring the vehicles to a stop. They both do so...
-
= 2.4. Given = 42 m/s 27 m/s , B = 24 kg m/s @ 115, and m (a) Calculate the magnitude and direction of the velocity A. (b) Calculate the x and y components of the momentum B. (c) Express m+ B two...
-
(b) If one micrometeorite (a sphere with a diameter of 1.00 x 10-6 m) strikes each square meter of the Moon each second, how many years would it take to cover the Moon to a depth of 1.20 m? (Hint:...
-
The Jensen portfolio evaluation measure: A . is an absolute measure of return over and above that predicted by the CAPM. B . is a measure of return per unit of risk, as measured by standard...
-
Your best taxable investment opportunity has an EAR of 6.4%. Your best tax-free investment opportunity has an EAR of 2.8%. If your tax rate is 32%, which opportunity provides the higher after-tax...
-
Before the latest financial crisis and recession, when was the largest recession of the past 50 years, and what was the cumulative loss in output over the course of the slowdown?
-
a. If all else stayed the same, but the labor force participation rate declined, what would happen to the unemployment rate? b. What is the Goldilocks scenario with regard to economic conditions?
-
How can the future value interest factors for an ordinary annuity be modified to find the future value of an annuity due?
-
How can the present value interest factors for an ordinary annuity be modified to find the present value of an annuity due?
-
What is a perpetuity? How can the present value interest factor for such a stream of cash flows be determined?
-
How would Stephanies investing decisions be affected if she were 35 years old? If she were 50 years old? Amount of Insurance Needed. Considering the information in the previous problem, how much life...
-
Jamie Lee and Ross have been hearing many stories recently about acquaintances who are passing away without leaving a will, which made Jamie Lee and Ross anxious to review their estate plan with an...
-
What are the companys top risks, how severe is their impact and how likely are they to occur?
Study smarter with the SolutionInn App