Amy Martin is a student who plans to attend approximately four professional events a year at her college. Each event necessitates a financial outlay of $100 to $200 for a new suit and accessories. After incurring a major hit to her savings for the first event, Amy developed a different approach. She buys the suit on credit the week before the event, wears it to the event, and returns it the next week to the store for a full refund on her charge card. Required 1. Comment on the ethics exhibited by Amy and possible consequences of her actions. 2. How does the merchandising company account for the suits that Amy returns?

Deja owns a photo printing business and wants to purchase a new state-of-the-art photo printer that she found online for $9,275, plus sales tax of 5.5%. The supply company is offering cash terms of 2/15, n/30, with a 1.5% service charge on late payments, or 90 days same as cash financing if Deja is approved for a company line of credit. If she is unable to pay within 90 days under the second option, she would have to pay 22.9% annual simple interest for the first 90 days, plus 2% simple interest per month on the unpaid balance after 90 days. Deja has an excellent credit rating but is unsure of what to do. a) If Deja took the cash option and was able to pay off the printer within the 15-day discount period, how much would she save? How much would she owe? b) If Deja takes the 90 days same as cash option and purchases the printer on December 30 to get a current-year tax deduction, using exact time, what is her deadline for paying no interest in a non-leap year? In a leap year?

While Kate was a student at SA University, she borrowed $16,000 in student loan at an annual interest rate of 10%. If she repays $3,000 per year, calculate the period required (to the nearest year) to pay off her debt

The summarized balance sheets of Pharoah Company and Sheridan Company as of December 31, 2025 are as follows: Assets Liabilities Capital stock Retained earnings Total equities Assets Liabilities Capital stock Retained earnings Total equities Pharoah Company Balance Sheet December 31, 2025 O $444000. O $297000. O $345000. O $350000. Sheridan Company Balance Sheet December 31, 2025 $2000000 $220000 1000000 780000 $2000000 $1480000 $330000 990000 160000 $1480000 If Pharoah Company acquired a 30% interest in Sheridan Company on December 31, 2025 for $350000 and the equity method of accounting for the investment was used, the amount of the debit to Equity Investments (Sheridan) to record the purchase would have been

Lily signed a personal loan for $7,500 with Joanne, her aunt, to pay her MBA tuition fees during the first year of her study. In the agreement, Lily promised to pay Joanne the principal plus 3.8% interest on this loan to compensate Joanne against the expected inflation on overall groceries and other costs Joanne has to cover per year based on the average rate of inflation observed in Canada since 1960 to 2021. Lily will start to make the first payment upon her graduation. a) Calculate the amount of annual interest for this loan. b) Calculate the amount of interest Lily saves if she pays back the loan six months upon graduating her MBA.

Marisol finances a sports car for $27,700 by taking out an installment loan for 36 months. The payments were $998.61 per month and the total finance charge was $8,249.96. After 21 months, Marisol decided to pay off the loan. After calculating the finance charge rebate, find her loan payoff amount.

Britta has been accepted into a 2-year Medical Assistant program at a career school. She has been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has the option of beginning repayment of the loan in 2.5 years. She also knows that during this non-payment time, interest will accrue at 4.29%. Britta made her last monthly interest-only payment on May 5. Her next payment is due on June 5. What will be the amount of that interest-only payment? Round your answer to the nearest cent. *

Parents wanted to save enough money to send their daughter to college. The parents were unable to save money right at birth but rather started saving money when she was 5 years old and will save until she is 18 years old. The parents would like to save up $75,000 to cover tuition and other expenses. How much would the parents need to save each month in order to meet this requirement Assume the parents save the money into an account that generated an interest of 2% per year O a $360 O b. 3370 Oc$400 Od $490

Your parents have accumulated a $120,000 nest egg. They have been planning to use this money to pay college costs to be incurred by you and your sister, Courtney. However, Courtney has decided to forgo college and start a nail salon. Your parents are giving Courtney $15,000 to help her get started, and they have decided to take year-end vacations costing $10,000 per year for the next four years. How much money will your parents have at the end of four years to help you with graduate school? You plan to work on a master’s and perhaps a PhD. If graduate school costs $26,353 per year, approximately how long will you be able to stay in school based on these funds? Use 9 percent as the appropriate interest rate throughout this problem. Round all values to whole numbers         Flag question: Question 6 Question 64.5 pts What are the funds available after the Nail Salon? Group of answer choices $100,000 $105,000 $72,000 $98,500       Flag question: Question 7 Question 74.5…

Hank has a $30,000.00 GIC which is locked in for the next 2 months at which time he can access his money. Today he was offered the opportunity to purchase his friends antique Harley Davidson motorcycle for $20,000.00 providing he can pay for it in the next few days or his friends is going to sell it on Kjiji. Hank really wants the motorcycle and has approached Everyday Bank about a loan noting that he can only afford a very small payment. What product would best meet Hank’s needs?   a. A personal line of credit for $20,000.00   b. An interest only demand koan for $20,000.00   c. A fixed repayment Loan for $20,000.000 with a variable interest rate and fixed monthly payments.   d. An Everyday Bank MasterCard with a limit of $20,000.00