A commercial bank will loan you $7,500 for two years to buy a car. The loan must be repaid in 24 equal monthly payments. The annual interest rate on the loan is 12% of the unpaid balance. What is the amount of the monthly payments?
A) $282.43
B) $390.52
C) $369.82
D) $353.05
Answer: D
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The primary purpose of the cutoff bank statement is to verify the reconciling items on the bank reconciliation
a. True b. False Indicate whether the statement is true or false
In a good internal control system, which of the following sets of documents is required for proper approval of a payment to a supplier?
A) a journal entry, a supplier invoice, and a description of the goods being purchased B) a receiving report, an invoice, and a purchase order C) a purchase order, a journal entry, and a price catalog D) a supplier invoice, a bill of lading, and the supplier's financial statements
Describe what management can do to limit union organizing efforts.
What will be an ideal response?
Crestar Company reported net income of $112,000 on 20,000 average outstanding common shares. Preferred dividends total $12,000. On the most recent trading day, the preferred shares sold at $50 and the common shares sold at $95. What is this company's current price-earnings ratio?
A. 19 B. 20 C. 17 D. None of these answers is correct.