Owen expects to receive $30,000 at the end of next year from a trust fund. If a bank loans money at an interest rate of 8.2%, how much money can he borrow from the bank on the basis of this information?

A) $2460
B) $13,863
C) $27,726
D) $32,460


Answer: C

Business

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Devon Company has collected the following data for one of its products:


What is the direct materials efficiency variance?
A) $18,000 U
B) $47,000 F
C) $47,000 U
D) $18,000 F

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Asset accounts normally have debit balances and revenue accounts normally have credit balances.

Answer the following statement true (T) or false (F)

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A) records the deed first. B) takes without actual knowledge of a prior unrecorded conveyance and records the deed first. C) takes with actual knowledge of the prior conveyance and records first. D) secures a guarantee of indemnification against title defects from the seller and records the written document first.

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New York Investments (NYI), an investment banking firm, has proposed two types of payment plans for the IPO being considered by Albany Exploration. The first is a firm commitment of $40,000,000

The second is a best efforts arrangement in which NYI will receive $2.00 for every share sold up to a maximum of $3,600,000 for the 1,800,000 shares being offered. How much money will NYI earn under the best efforts method if it is able to sell only 95% of the offering at a price of $25.00 per share? A) $3,420,000 B) $3,600,000 C) $3,200,000 D) $2,800,000

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