Part A: Cash Flow of Accounts Receivable<\/strong><\/p>\n

<\/strong><\/p>\n

Myers and Associates, a famous law office in California, bills its clients on the first of each month. Clients pay in the following fashion: 40% pay at the end of the first month, 30% pay at the end of the second month, 20% pay at the end of the third month, 5% pay at the end of the fourth month, and 5% default on their bills. Myers wants to know the anticipated cash flow for the first quarter of 2009 if the past billings and anticipated billings follow this same pattern. The actual and anticipated billings are as follows.<\/p>\n\n\n\n\n\n

\n Fourth Quarter Actual Billings<\/strong><\/p>\n<\/td>\n	\n First Quarter Anticipated Billings<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n Oct.<\/strong><\/p>\n<\/td>\n	\n Nov.<\/strong><\/p>\n<\/td>\n	\n Dec.<\/strong><\/p>\n<\/td>\n	\n Jan.<\/strong><\/p>\n<\/td>\n	\n Feb.<\/strong><\/p>\n<\/td>\n	\n Mar.<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n $392,000<\/p>\n<\/td>\n	\n $323,000<\/p>\n<\/td>\n	\n $296,000<\/p>\n<\/td>\n	\n $340,000<\/p>\n<\/td>\n	\n $360,000<\/p>\n<\/td>\n	\n $408,000<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Part B: Straight Bank Loan<\/strong><\/p>\n <\/strong><\/p>\n Right Bank offers EAR loans of 9.38% and requires a monthly payment on all loans. <\/p>\n \n What is the APR for these monthly loans?<\/li>\n What is the monthly payment for the following?\n \n A loan of $200,000 for six years<\/li>\n A loan of $450,000 for twelve years<\/li>\n A loan of $1,250,000 for thirty years<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":" Part A: Cash Flow of Accounts Receivable Myers and Associates, a famous law office in California, bills its clients on the first of each month. Clients pay in the following fashion: 40% pay at the end of the first month, 30% pay at the end of the second month, 20% pay at the end of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/145983"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=145983"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/145983\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=145983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=145983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=145983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}