Jacob needed money for some unexpected expenses, so he borrowed $5,890.25 from a friend and agreed to repay the loan in seven equal installments of $1,250 at the end of each year. the agreement is offering an implied interest rate of:

a) 14.85%

b) 9.57%

c) 11.00%

d) 12.98%

jacob's friend wilson, has hired a financial planner for advice on retirement. considering wilson's current expenses and expected future lifestyle chnages, the financial planner has stated that once wislon crosses a threshold of $8,452,622 in savings, he will have enough money for retirement. wilson has nothing saved for his retirement yet, so he plans to start depositing $40,000 in a retirement fund at a fixed rate of 11.00% at the end of each year. it will take years for wilson to reach his retirement goal.

a) 30.55 years

b) 41.24 years

c) 38.19 years

d) 25.97 years

Andrew cooper decides to become a part owner of a corporation. as a part owner, he expects to receive a profit as payment because he has assumed the risk of - serious inflation eroding the purchasing power of his investment.- being paid before the suppliers and employees are paid.- losing his home, car, and life savings.- losing the money he has invested in the corporation and not receiving profits.- the company giving all of the profits to local communities

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?