Kendra recieves an invoice from Home Hardware dated June 3rd, 2010 for $750 with terms 5/9,1/17,n/34. If Kendra pays the invoice in full on June 19 th, 2010 , a. How many days were there between the date of the invoice, and when the invoice was paid? b. How much is the amount of the discount? c. How much was paid? Number of days = _______
Amount of Discount =$ _______ (rounded to the nearest cent) Payment =$ _______ (rounded to the nearest cent)
Answers
The number of days between the date of the invoice and when it was paid is 16 days. The amount of the discount is $35.29, and the payment made by Kendra is $714.71.
To calculate the answers, we need to understand the terms of the invoice. The terms provided are 5/9, 1/17, and n/34. These terms represent the discount percentage, the discount period, and the net payment period, respectively.
a. To determine the number of days between the date of the invoice and when it was paid, we subtract the invoice date (June 3rd, 2010) from the payment date (June 19th, 2010). This results in 16 days.
b. The discount percentage given is 5/9, which means Kendra can take a 5% discount if the invoice is paid within the discount period. To calculate the amount of the discount, we multiply the invoice amount ($750) by the discount percentage (5% or 0.05).
The discount amount is $37.50. However, since the terms also include a discount period of 1/17, we need to adjust the discount for the shorter period. We can calculate the adjusted discount as follows: $37.50 * (1/17) = $2.21.
Therefore, the amount of the discount is approximately $35.29 when rounded to the nearest cent.
c. To calculate the payment made by Kendra, we subtract the amount of the discount ($35.29) from the original invoice amount ($750). The payment made by Kendra is $714.71.
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Related Questions
In which market would a producer sell bicycles to consumers?
Answers
In the markets for goods and services, a producer would sell his bike for purchase by customers.
What is the market for goods and services?Consumers buy consumables on the products and services market, and firms sell their commodities there. The market encompasses physical stores, the Internet, and any other location where consumers can exchange products and services.
The trading of finished goods takes place here. Businesses receive payment from customers in exchange for goods. The consumer gives money to the business in a flow. In contrast to this, enterprises can buy the materials they need on the factor market to make an item.
The rule of supply and demand governs how much is produced and at what price in the market for products and services.
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On January 1 of this year, Cunningham Corporation issued bonds with a face value of $200,000 and a coupon rate of 6 percent. The bonds mature in 10 years and pay interest annually every December 31. The total issue price of the bonds is $173,160. The company uses the effective-interest amortization method. Prepare all journal entries under this bond arrangement for the first two years for both cases: (1) total issue price of the bonds is $173,160; (2) total issue price of the bonds is $215,443. In the journal entries, put bond discounts and premia in separate accounts.
1. What is the issuance price of the bonds on January 1?
2. What amount of interest expense is recorded on December 31 of this year?
Answers
1. The issuance price of the bonds on January 1 is $173,160. 2. The amount of interest expense recorded on December 31 of the current year is $12,000.
1. The issuance price of the bonds on January 1 is $173,160.
2. To calculate the amount of interest expense recorded on December 31 of the current year, we need to determine the annual interest payment. The coupon rate is given as 6 percent, and the face value of the bonds is $200,000. Therefore, the annual interest payment is calculated as follows:
Annual interest payment = Face value of bonds * Coupon rate
= $200,000 * 0.06
= $12,000
Since the bonds were issued on January 1, the interest expense for the current year would be calculated based on the number of months remaining in the year. Let's assume there are 12 months in a year.
Interest expense for the current year = Annual interest payment * (Number of months remaining in the year / Total months in a year)
= $12,000 * (12 / 12)
= $12,000
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if there were no organized financial markets, how would an entrepreneur acquire resources to develop and produce a new product?
Answers
In the absence of organized financial markets, an entrepreneur seeking resources to develop and produce a new product would rely on alternative methods. Here's a step-by-step explanation of how they can acquire resources:
1. Personal Savings: The entrepreneur can use their own personal savings as an initial investment to finance the development and production of the new product.
2. Family and Friends: The entrepreneur can seek financial assistance from family members and friends who believe in the potential of the new product and are willing to support the venture. They can either provide loans or invest directly in the business.
3. Crowdfunding: The entrepreneur can use crowdfunding platforms to pitch their idea and gather small investments from a large number of people interested in supporting the project. This can be done through rewards-based or equity-based crowdfunding.
4. Angel Investors: The entrepreneur can approach individual investors, known as angel investors, who have a high net worth and are willing to provide financial support to promising start-ups in exchange for equity or convertible debt.
5. Venture Capital: The entrepreneur can seek funding from venture capital firms that invest in high-growth, high-potential start-ups in return for equity ownership. This often involves presenting a solid business plan and demonstrating the potential for significant returns on investment.
6. Business Grants and Competitions: The entrepreneur can apply for business grants offered by government agencies, foundations, or private organizations. They can also participate in business plan competitions that provide cash prizes and other resources to winners.
7. Trade Credit: The entrepreneur can negotiate favorable payment terms with suppliers, such as extended payment terms or deferred payments, to acquire the necessary resources for producing the new product without immediate financial outlays.
By exploring these options, an entrepreneur can secure the necessary resources to develop and produce a new product without relying on organized financial markets.
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If there were no organized financial markets, an entrepreneur would acquire resources to develop and produce a new product through personal savings, loans from friends and family, or by seeking out venture capitalists or angel investors who are willing to invest in their idea. Without organized financial markets, it may be more challenging for an
entrepreneur to secure the necessary capital to fund their venture. However, there are still options available that would allow them to raise the necessary funds to get started.The first step an entrepreneur would need to take is to identify
their funding needs. They would need to determine how much capital is needed to develop and produce their product, as well as cover any initial overhead costs. Once they have a clear understanding of their funding needs, they could
then begin to explore different funding options available to them. This could include seeking out investors or applying for loans through various lending institutions. Another option would be to explore crowdfunding, which has become an increasingly popular way for entrepreneurs to raise capital. Through crowdfunding, an entrepreneur can pitch their idea to a large group of individuals and ask them to contribute small amounts of money to help fund the venture.Overall, while the absence of organized financial markets may pose some challenges for entrepreneurs seeking to fund a new venture, there are still various options available to them. With careful planning and persistence, an entrepreneur can secure the necessary capital to turn their idea into a successful business venture.
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Select the statement that does not identify a problem that suggests that the regulatory approach will prove inadequate over the long term.
Multiple Choice
a.It underestimates the ability of business to influence consumer choice.
b.It assumes that business fulfills its environmental responsibility when it responds to the environmental demands of consumers.
c.It underestimates the influence that business can have in establishing the law.
d.Itt assumes that economic growth is environmentally and ethically benign.
Answers
The articulation that does not distinguish an issue recommending that the administrative approach will demonstrate lacking over the long term is:
b.It assumes that the business fulfills its environmental responsibility when it responds to the environmental demands of consumers.
This explanation does not highlight an issue with the administrative approach. Instep, it proposes that when businesses react to natural requests from customers, they are satisfying their natural obligation.
This viewpoint accepts that businesses are responsive to shopper requests and will take fitting activities to address natural concerns.
On the other hand, choices a, c, and d highlight potential issues with the administrative approach.
Choice A focuses on that the administrative approach may belittle the capacity of businesses to impact buyer choices, possibly driving them to insufficient direction.
Choice c recommends that the administrative approach may think little of the impact that businesses have in setting up laws, which may lead to administrative capture or insufficient authorization.
Choice d shows that the administrative approach may expect that financial development is naturally and morally generous, possibly neglecting negative impacts and the requirement for stricter directions.
Subsequently, choice b does not distinguish an issue with the administrative approach, whereas alternatives a, c, and d raise concerns about its ampleness over the long term.
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the size of an international market affects a firm’s willingness to invest in r&d. larger markets usually offer____________ potential returns and pose__________ risk for a firm’s investments.
Answers
Larger markets usually offer higher potential returns and pose less risk for a firm’s investments. This return has a meaning as the profit, dividend, or both that an investor receives on their investment
A market can be defined as a place where sellers and buyers can meet to facilitate transaction or the exchange of goods and services. So that, larger market has a meaning as a place that containing many buyer and seller. Larger market usually offer a less risk and higher return because larger market is tend to be stable. In the other hand, a small market provide a higher risk and less return.
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It is generally harder to transfer one's ownership interest in a partnership than in a corporation. a. True b. False
Answers
There are different kinds of business. It is generally harder to transfer one's ownership interest in a partnership than in a corporation is a True statement.
Why is it harder to transfer one's ownership interest in a partnership?Partnerships and proprietorships are known to have a tax advantage when compared to corporations. It is therefore harder to transfer one's ownership interest in a partnership than that of an corporation.
Ownership in a corporation is said to be usually transferred through the sale of stock. A change in ownership is known to not affect the presence of the corporation.
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25) What is the best strategy for passing a certification exam?
A) focusing on addressing each question individually
B) attempting to finish as quickly as possible
C) considering the instructor's biases
D) judging which exam questions are most important
Answers
The best strategy for passing a certification exam involves a combination of approaches. Firstly, it is important to focus on addressing each question individually. Take the time to carefully read and understand each question before attempting to answer it. Pay attention to keywords, instructions, and any specific details provided. All of the options listed (A, B, C, and D) are correct.
While it is essential to manage your time effectively, attempting to finish as quickly as possible may lead to rushed and incorrect answers. Allocate your time wisely, ensuring that you have sufficient time to review and revise your responses.
Considering the instructor's biases can be helpful in understanding the context and perspective of the exam. This can assist in interpreting questions and selecting appropriate answers, but it should not be the sole determining factor.
Instead of judging which exam questions are most important, it is recommended to prioritize all questions equally. Attempt to answer all questions to the best of your ability, as even a small number of incorrect answers can impact your overall score.
In summary, the best strategy for passing a certification exam involves carefully addressing each question, managing time effectively, considering the instructor's biases, and treating all questions with equal importance. All of the options listed (A, B, C, and D) are correct.
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4. Identify three factors that can lead to conflict in a hospitality environment
Answers
Conflicts in hospitality environments can arise due to various factors, but some common factors include communication breakdowns, personality clashes, and workload imbalances.
Poor communication can lead to misunderstandings between staff members and with customers, which can result in conflicts. Personality clashes can arise when different personalities or work styles do not mesh well together, leading to friction and tension among employees. Workload imbalances can lead to feelings of resentment and unfairness, especially if some employees feel like they are doing more work than others without proper recognition or compensation.
Hospitality environments require effective communication, collaboration, and a positive work culture to prevent and address conflicts in a timely and respectful manner.
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all of the following statements about data mining are true except: select one: a. understanding the business goal is critical. b. understanding the data, e.g., the relevant variables, is critical to success. c. building the model takes the most time and effort. d. data is typically preprocessed and/or cleaned before use.
Answers
All of the following statements about data mining are true except . understanding the business goal is critical.
Data mining is the manner of locating anomalies, patterns and correlations inside large statistics units to are expecting results. the use of a extensive range of techniques, you may use this data to boom revenues, cut prices, enhance client relationships, reduce dangers and more.
Statistics mining is the process of sorting thru huge information units to perceive patterns and relationships that may assist solve business troubles through information analysis. facts mining strategies and tools allow companies to predict destiny traits and make more-informed business decisions.
Advertising and marketing. statistics mining is used to explore increasingly more large databases and to improve marketplace segmentation. by means of analysing the relationships among parameters along with consumer age, gender, tastes, and so on., it's far feasible to wager their behaviour in an effort to direct personalised loyalty campaigns.
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Which of the following is an intangible noncurrent asset?
Answers
Answer:
Trademark
Explanation:
What's the difference between a checking account and a savings account?
A. A checking account has fewer fees.
B. A savings account comes with a debit card.
C. A savings account earns interest.
D. A checking account comes with a credit card.
Answers
Answer:
D. A checking account comes with a credit card.
Explanation:
A checking account is opened to facilitate regular bank transactions such as deposits, withdraws, cash transfers, payments, among others. There are no limits to the number of transactions that one can perform per period. Bank's fee and charges are applicable per transaction. To facilitate payments, withdrawals, and deposits, banks provide debit cards to customers.
Savings accounts are designed to help customers accumulate funds for future use. Banks limit withdrawals and offer interest payments to encourage customers to save. Savings accounts have fewer charges and don't come with debit cards.
Write one to two paragraphs explaining the importance of the seven marketing functions. Include examples to illustrate your points.
Answers
Answer: See explanation
Explanation:
The seven functions of marketing include:
1. Marketing Information Management: This helps an organization to understand what the customers need. Information can be gathered through the review of market research reports, social media, feedback from sales team.
2. Distribution: An organization's distribution strategy helps the customers to know where to get the product or the company. Marketing helps in the distribution of goods and services to ones customers.
3. Pricing: Pricing plays a role in the success of a particular product. Marketing helps one to be aware of the pricing strategy to use in order to have a competitive edge over ones rivals.
4. Product/Service Management: Marketing is vital for the development of a product as the information gotten from customers can be used to incorporate in new products.
5. Promotion: Through marketing, prospective customers can be made aware of a particular product through promotional activities.
6. Sale - Marketing aids sales as it brings about an increase in the volume of goods sold to the public and also on ways to improve the product through feedbacks.
7. Financing: Successful marketing gives revenue to a business and help in strengthening the loyalty of customers and help in gaining new customers.
Which item is important to consider when selecting a
credit card?
Annual Percentage Rate (APR)
Fees
The look of the credit card
th
Both APR and fees
Answers
Answer:
Both APR and fees
Explanation:
The Annual Percentage Rate -APR is the interest rate a customer pays on a credit card per year. Credit cards extend loans to the holder every time they are used. If the credit card user does not pay the full amount on the due date, it attracts interest charges. The higher the APR, the more interest a cardholder will pay. In selecting a credit card provider, APR is the most important factor to consider.
Credit card attracts other fees other the interest. These fees include Balance Transfer Fee, Foreign Transaction Fee, Annual Fee, and Cash Advance Fee. These fees affect the customer's overall cost of using the credit card. Customers should compare different credit card companies and select one with favorable fees.
What type of relationship exists between the level of a company's market power and the price that its owner is able to charge for its product? A) Opposing B) Negative C) Positive D) Circular
Answers
The relationship that exists between the level of a company's market power and the price that its owner is able to charge for its product is Positive relationship.
In marketing context, the Positive relationship helps to influence the market through the price level of a product.
A producer that has a Positive relationship with its market(customer) will have influence on such market.
Therefore, the correct answer is C because the positive relationship is what exists between the level of a company's market power and the price that its owner is able to charge for its product.
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A reduction in the level of unemployment would have which effect with respect to the nation's production possibilities curve?
A. It would shift the curve to the left.
B. It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve.
C. It would not shift the curve; it would be represented by moving from a point on the curve to a point to the right of the curve.
D. It would shift the curve to the right.
Answers
Answer:
B. It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve.
Explanation:
Here the falling in unemployment represents that there is a movement with respect to the resources that are fully employed.
In this the unemployment means that it could be occured inner side of the PPF but if there is an increase, so the point of the production would be moved inner of the PPF to the PPF
Therefore the option B is correct
what are creative unique products example flying water bottle plz don’t give me actual already made products
Answers
Need any more ideas?
Added value can be increased by ________ selling price.
Answers
Answer:
increasing
Explanation:
The repair service that fixes your farming equipment doesn’t seem to fix your plow correctly. The technician says that if you are not happy, you can buy a new plow from him, but the cost is extremely high. Do you have other options available to you for higher-quality repairs or cheaper equipment? Explain your answer.
Answers
Answer:
Your best option would be for higher quality repairs and higher quality equipment, this would save you more money and time in the long run where you have the ability to do other things.
Explanation:
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Answer:
No, because in command economies, there is no competition. So, there are no other repair services that would offer higher-quality repairs or cheaper equipment. Additionally, no incentive exists for the technician to provide high-quality service.
Explanation:
the actual answer
How can a company hide 2000$ of debts in a double entry journal accounting….. using debits and credits
Answers
HELP PLEASE
20 points :)
Answers
Answer:
the last one.
Explanation:
they both are traveling at the same speed. the size (mass) won't matter because only temperature affects average kinetic energy.
hope this helps :)
Which of the following would be regulated by the GAO? O A. a "mom and pop" restaurant B. a non-profit charity O c. a large public corporation O D. the state of Nevada
Answers
Answer:
the state of Nevada
Explanation:
What two factors influence an economic school of thought?(1 point)
Answers
Answer:
Free-market, or laissez-faire, economics and Keynesian theory.
Explanation:
The economic school of thought can largely be influenced by prevailing societal values and the historical context in which the theory is developed.
There are many factors that might influence an economic school of thought, but the two key elements are often prevailing societal values and historical context. Prevailing societal values can drastically influence an economic philosophy.
Furthermore, the historical context in which an economic thought emerges is crucial. Economists develop their theories in response to the economic challenges and realities of their time. The Great Depression deeply influenced Keynesian economics, and the stagflation of the 1970s prompted a shift towards monetarism.
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Who did the Lakers beat today?
Answers
Answer:
nobody cuz they suc
Explanation:
Answer:
THE LAKERS BEAT TRUMP BECAUSE TRUMP IS A LOSER
Explanation:
true or false, employees who work for wages are paid a fixed amount per week
Answers
Using this table as needed, calculate the required information for the mortgage.
Amount Financed Interest Rate Term of Loan (years) Number of $1,000s Financed Table Factor (in %) Monthly Payment (in $) Total Interest (in $)
$79,500 8.00% 30 ___ $ ___
Answers
The required information for the mortgage is $130,164
To calculate the required information for the mortgage, we can use an amortization table or mortgage calculator. However, since the table and factor are not provided in the question, I'll provide a step-by-step calculation for the required information based on the given details.
Amount Financed: $79,500
Interest Rate: 8.00% (0.08)
Term of Loan: 30 years
To find the number of $1,000s financed, we divide the amount financed by $1,000:
Number of $1,000s Financed = Amount Financed / $1,000
Number of $1,000s Financed = $79,500 / $1,000
Number of $1,000s Financed = 79.5
Next, we can calculate the monthly interest rate by dividing the annual interest rate by 12:
Monthly Interest Rate = Annual Interest Rate / 12
Monthly Interest Rate = 0.08 / 12
Monthly Interest Rate = 0.00667
To calculate the monthly payment, we can use the formula for the monthly payment on a fixed-rate mortgage:
Monthly Payment = (Loan Amount * Monthly Interest Rate) / (1 - (1 + Monthly Interest Rate)^(-Number of Payments))
First, we need to calculate the total number of payments by multiplying the number of years by 12:
Number of Payments = Term of Loan * 12
Number of Payments = 30 * 12
Number of Payments = 360
Now, we can substitute the values into the formula to calculate the monthly payment:
Monthly Payment = ($79,500 * 0.00667) / (1 - (1 + 0.00667)^(-360))
Using a financial calculator or spreadsheet software, the monthly payment is approximately $582.40.
To calculate the total interest paid over the life of the loan, we can multiply the monthly payment by the number of payments and subtract the loan amount:
Total Interest = (Monthly Payment * Number of Payments) - Amount Financed
Total Interest = ($582.40 * 360) - $79,500
Total Interest = $209,664 - $79,500
Total Interest = $130,164
Therefore, the required information for the mortgage is as follows:
Number of $1,000s Financed: 79.5
Monthly Payment: $582.40
Total Interest: $130,164
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Bob sold manufacturing equipment to a dealer for $50,000. He bought the equipment for $55,000 several years ago and has claimed $12,500 of depreciation expense on the equipment. What is the amount and character of the gain or loss for Bob on the equipment?
Answers
The amount and character of the gain or loss for Bob on the equipment are as follows: To find the amount and character of the gain or loss for Bob on the equipment, you need to consider the equipment's carrying value.
To determine the carrying value, subtract the total depreciation expense claimed from the original cost of the equipment.$55,000 - $12,500 = $42,500.
The equipment's carrying value is $42,500. Since Bob sold the equipment for $50,000, there is a gain. The gain can be calculated by subtracting the carrying value from the selling price:$50,000 - $42,500 = $7,500. Therefore, Bob has a gain of $7,500 on the sale of the equipment.
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Which of these statements regarding the extended term insurance nonforfeiture option in a life policy is accurate?
evidence of insurability is required
coverage remains until death of the insured
the premium to purchase the coverage comes from the policy's cash value
cash value will continue to grow
Answers
The accurate statement regarding the extended-term insurance nonforfeiture option in a life policy is that coverage remains until the death of the insured. The correct answer is b.
No evidence of insurability is required and the premium to purchase the coverage comes from the policy's cash value. However, the cash value will not continue to grow once the option is exercised. The policyholder may use the policy's cash value to get extended term insurance coverage thanks to the extended term insurance nonforfeiture option.
In other words, even if the policyholder stops paying premiums, the coverage will continue until the insured's death. Based on the cash value which was available at the time this option was exercised, the coverage amount will be determined. The other statements are not accurate for the extended-term insurance nonforfeiture.
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Businesses offer many of the marketing functions, and consumers usually take part in _____ when they make purchases.
- at least five
- one or more
- all
- one
Answers
Answer:
one or more
Explanation:
Businesses offer many marketing functions, and consumers usually take part in one or more when they make purchases. The correct option is B.
What is the role of marketing to consumers?Marketing's goals are to interact with customers, provide information, and add value to their lives. Discovering what their customers want and need, then meeting those needs through the products and services they provide, is how businesses decide how to best market to consumers.
The aspect of marketing that is most widely recognized is promotion. The majority of audiences would be familiar with the traditional and digital marketing strategies included. Activities aimed at interacting with consumers, educating them about the company and its offerings, and persuading them to make purchases are referred to as promotional activities.
Thus, the ideal selection is option B.
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Which aspect of diversity can be positive or negative? A (blank) can be negative or a positive.
Answers
Answer:
Positive aspects of diversity is that no one is the same. Everyone is their own person. There is no negative to diversity. It is the people themselves who think negativly of diversity often by discrimination.
Explanation:
i hope this helped and was on point and I'm sorry if it wasn't. I just stumbled on your question...
Answer:
stereotyping
Explanation:
You have $20,000 to invest and you have decided to buy Shake Shack (SHAK) on margin. Your broker requires an initial margin of 60% and a maintenance margin of 40%. Currently, Shake Shack is trading for $160 per share. Approximately how many shares can you buy in total? b. If the price drops to $120 per share, will you receive a margin call? c. How far can the price fall before your broker issues a margin call?
Answers
Maximum amount you can borrow is $33,333.33. To determine how many shares you can buy on margin, we need to calculate the maximum amount you can borrow based on the initial margin requirement.
a. The maximum amount you can borrow:
Initial margin requirement = 60%
Total investment = $20,000
Maximum amount you can borrow = (Total investment / Initial margin requirement) - Total investment
Maximum amount you can borrow = ($20,000 / 0.60) - $20,000 = $33,333.33
b. The number of shares you can buy:
Share price = $160
Number of shares you can buy = Maximum amount you can borrow / Share price
Number of shares you can buy = $33,333.33 / $160 ≈ 208.33
Since you cannot buy a fraction of a share, you can buy a maximum of 208 shares.
c. If a margin call will be received at a price of $120 per share:
Maintenance margin requirement = 40%
Loan amount = Total investment - Initial investment
Loan amount = $20,000 - ($20,000 / 0.60) ≈ $13,333.33
Maintenance margin = Maintenance margin requirement * Total investment
Maintenance margin = 40% * $20,000 = $8,000
The value of the position at $120 per share:
Position value = Number of shares * Share price
Position value = 208 * $120 = $24,960
Equity = Position value - Loan amount
Equity = $24,960 - $13,333.33 = $11,626.67
Since the equity ($11,626.67) is greater than the maintenance margin ($8,000), a margin call will not be received at a price of $120 per share.
d. The price at which a margin call would be issued:
Equity = Maintenance margin requirement * Position value
$11,626.67 = 40% * Position value
Position value = $11,626.67 / 0.40 = $29,066.67
Number of shares = Position value / Share price
Number of shares = $29,066.67 / $160 ≈ 181.67
The price at which a margin call would be issued is when the number of shares drops to approximately 181.67, which is not possible since you can only own whole shares. Therefore, a margin call would occur when the number of shares drops to 181.
In summary, you can buy approximately 208 shares of Shake Shack on margin with your $20,000 investment. If the price drops to $120 per share, you will not receive a margin call. A margin call would be issued when the number of shares drops to 181 or lower.
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