# The terms of the sale were 4/6, net 48. What is the effective annual rate of interest

24 / 01 / 2019 Assignments

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## The terms of the sale were 4/6, net 48. What is the effective annual rate of interest

HI can you please provide the answers in Excel – thank you11 The terms of the sale were 4/6, net 48. What is the effective annual rate of interest ?12MonthSales \$MonthSales \$Jan 28,660July 38,860Feb 49,353Aug 49,324Mar 49,324Sep 28,660Apr 38,860Oct 49,324May 28,660Nov 49,353June 49,353Dec 38,860Sales are collected as follows:In the month of Sales: 39%In the next month: 33%After 2 months: 10%Remainder is considered as bad debt and is not collected.Calculate the cash collection for June.15MonthSales \$MonthSales \$Jan 28,593July 36,903Feb 28,465Aug 41,735Mar 41,735Sep 28,593Apr 36,903Oct 41,735May 28,593Nov 28,465June 28,465Dec 36,903The company has estimated expenses as follows: General and administrative expenses: \$8,122Material purchases are 47 percent of sales. Material purchases are paid in the month following the purchase.Interest payment per month: \$3,415Rent expenses per quarter starting March: \$4,744Calculate the cash outflows for June.19 OnJuly 15th, you purchased \$10,000 worth of goods. The terms of the sale were 1/7, net 34. What is the effective annual rate of interest for the credit period for this sale?24MonthSales \$MonthSales \$Jan 34,014July 41,767Feb 44,613Aug 30,919Mar 30,919Sep 34,014Apr 41,767Oct 30,919May 34,014Nov 44,613June 44,613Dec 41,767Sales are collected as follows:In the month of Sales: 42%In the next month: 28%After 2 months: 6%After 3 months: remainder is collectedCalculate the cash collection for December.

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