You can get a $1,000 check cashed one week early if you agree to accept $950 cash

Fantastic news! We've Found the answer you've been seeking!

Question:

You can get a $1,000 check cashed one week early if you agree to accept $950 cash for the check, which you are required to sign over to the "bank." One week later, this bank cashes your paycheck and keeps the proceeds.

What annual rate of return did they earn on this transaction?

Related Book For answer-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

See More Books

Posted Date: Dec 28, 2023 05:08 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
BACKGROUND You are an information analyst working for NEE. The company president has asked you to prepare a Quantitative analysis of financial, sales, and operations data to help determine which...
Design a suitable angle section to carry a factored tensile force 210 kN assuming a single row of M20 bolts. The yield strength and ultimate strength of the material is 250 MPa and 410 MPa,...
Refer to Steele's financial statements in Exercise 12-76. Refer to exercise 12-76, Steele Inc. Consolidated Income Statement s (In thousands except per share amounts) Steele Inc. Consolidated Balance...
Claudine Soosay recorded the following times assem-bling a watch. Determine (a) The average time, (b) The normal time, and (c) The standard time taken by her, using a performance rating of 95% and a...
Correlation between height and weight for players on the 2014 Brazil World Cup Team, using data from all 23 players on the roster. State whether the quantity described is a parameter or a statistic...
Lafayette Corporation, a client, requests that you compute the appropriate balance of its estimated liability for product warranty account for a statement as of June 30, 2011. Lafayette Corporation...
The sheet Inventory lists a grocery store's inventory for two months. Calculate the percent change for each item to two decimal places. If the formula gives an error, put "Initial Stock" in the cell....
You have just been hired by Internal Business Machines Corporation (IBM) in their capital budgeting division. Your first assignment is to determine the free cash flows and NPV of a proposed new type...
Please describe the circumstances of the following case study and recommend a course of action. Explain your approach to the problem, perform relevant calculations and analysis, and formulate a...
The short run is the length of time it takes all fixed costs to become ____.
A tax cut __________ supply.
If supply falls and demand remains the same, equilibrium price will ______, and equilibrium quantity will ________.
A perfectly elastic supply curve can be shown graphically as ________.
If you were in charge of your company, what would you tell recruiters to do or not do to enhance their recruiting efforts? Why?
In one year, Raby Ltd, a UK company, expects cash flows of 160,000 from its UK operations and 480,000 from its sales in the European Union (EU). Raby also has a debt of 550,000 due in one year. If...
H.J. Heinzs annual dividends were as follows: 1990 ..............$0.540 1991.............. 0.620 1992 .............. 0.700 1993.............. 0.780 1994 .............. 0.860 1995 .............. 0.940...
Identify the significant features of white-collar crimes.
This is an action by purchasers of 5 percent convertible subordinated fifteen year debentures of BarChris Construction Corporation (BarChris). * * * The action is brought under Section 11 of the...
Frank Berryessa stole funds from his employer, the Eccles Hotel Company. His father, W. S. Berryessa, learned of his sons trouble and, thinking the amount involved was about $2,000, gave the hotel a...
What other solutions could you see be effective at improving employee motivation and reducing the turnover rate? Why do you believe these solutions would be useful?
Should the whole team have decided on the team members schedule accommodations collectively? Why or why not?
In what ways do you believe providing special work arrangements or accommodations for employees impacts employee motivation? How does it help? How does it hurt?

You can get a $1,000 check cashed one week early if you agree to accept $950 cash

Question:

Expert Answer:

To calculate the annual rate of return on the transaction we need to determine ... View the full answer

Smith and Roberson Business Law

Students also viewed these finance questions