Question 7 An Accounts Payable Clerk in the Accounting department receives an invoice. She takes the invoice and enters the invoice number, amount and due date in to Oracle Netsuite. What step of the transaction process cycle did she just perform? Data storage Source document review Data capture Information output

Answers

Answer 1

An Accounts Payable Clerk in the Accounting department receives an invoice. She takes the invoice and enters the invoice number, amount, and due date into Oracle Netsuite.

An Accounts Payable Clerk in the Accounting department receives an invoice. She takes the invoice and enters the invoice number, amount, and due date into Oracle Netsuite. The step of the transaction process cycle that she just performed is Data capture.What is the transaction process cycle?The transaction process cycle refers to the stages that a transaction undergoes from the point of initiation to completion, including the recording of business transactions. The cycle consists of four steps, which include data capture, data storage, information processing, and information output.What is data capture?Data capture is the process of collecting and entering data from source documents into a computer system for processing. In the case of the Accounts Payable Clerk, she collected data from the invoice and entered it into Oracle Netsuite, a computer system used for accounting. By entering the invoice number, amount, and due date, she has captured the data necessary for the invoice to be processed through the accounting system.In conclusion, the Accounts Payable Clerk in the Accounting department performs the step of data capture in the transaction process cycle when she receives an invoice, takes the invoice, and enters the invoice number, amount, and due date into Oracle Netsuite. The transaction process cycle includes four steps, data capture, data storage, information processing, and information output.

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Related Questions

.Which of the following accounts of a governmental entity is credited when a purchase order is approved?
Select one:
a. Fund balance
b. Budgetary fund balance reserved for encumbrances
c. Encumbrances
d. Vouchers payable

Answers

Among the given list  c. Encumbrances are credited when a purchase order is approved.

When a purchase order is approved, it creates a commitment for the government to pay for the goods or services ordered.

This commitment is recorded as an encumbrance, which is a temporary reserve of funds that prevents the government from overspending its budget.

Therefore, when a purchase order is approved, the encumbrances account is credited to reflect the commitment of funds.

Later, when the government receives the goods or services and pays the vendor, the encumbrance is reversed, and the appropriate expenditure account is debited.

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Help

Subject: Seasonal Product Vendors

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Hi,

The Seasonal Product Team needs a vendor who can quickly adjust to changes in product demand. The Planning Team has sent

over a table comparing how the four available vendors have been performing. Can you identify which vendor to recommend?

Thank you,

Nadia Loomis

Task

Instructions

Rank order the vendors, keeping the Seasonal Product Team's needs in mind.

Flexibility

Customer Issues

Quantity Shipped

Shipped On Time

Rank

Vendor

1

D
.
.

1
.

2

K
.
.

3

V
.
.
.
.

4

Р

O

1

Answers

Based on the table provided, I would recommend Vendor K as the best option for the Seasonal Product Team's needs.

Vendor K appears to be the most flexible, with a high score of 4 for Flexibility, indicating their ability to adjust to changes in product demand. They also have a high score of 4 for Quantity Shipped, indicating their capacity to meet the required product demand.

In terms of customer issues, Vendor K has a score of 2, which is relatively low compared to the other vendors, indicating that they have fewer customer issues. Additionally, they have a score of 3 for Shipped On Time, which is the second-highest score among the vendors, indicating that they have a good track record of timely deliveries.

Overall, Vendor K appears to be the most well-rounded option for the Seasonal Product Team's needs.

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Write about the ways to maintain a positive body
image.

What I Should Do to Maintain a Positive Body Image​

Answers

Answer:

Eat Healthy

Maintain a good diet

Meditate

Practice self confidence

Work out

Stay positive

Have a healthy mental state

What considerations arise when designing a research study?

Answers

Research participants should not be subjected to harm in any ways whatsoever. Respect for the dignity of research participants should be prioritised. Full consent should be obtained from the participants prior to the study.

T/F? Given an optimistic economic and stock-market outlook for a country, the investor should underweight the allocation to this country in his/her portfolio.

Answers

The given statement “Given an optimistic economic and stock-market outlook for a country, the investor should underweight the allocation to this country in his/her portfolio”  is false.

 

An optimistic economic and stock-market outlook for a country would typically indicate positive expectations for the country's economy and stock market performance, which could potentially lead to higher returns on investment

In such a scenario, an investor may consider overweighting, rather than underweighting, the allocation to this country in their portfolio. Overweighting means allocating a higher percentage of the portfolio to a particular investment or asset class compared to its benchmark or target allocation.

However, it's important to note that investment decisions should be based on a comprehensive analysis of various factors, including the investor's financial goals, risk tolerance, and diversification strategy, rather than solely relying on economic and stock market outlooks.

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kala is financing a house for $123,500. she has to pay $300 plus 1.05% for a brokerage fee. how much are the mortgage brokerage fees? (2 points) $429.68 $1,296.75 $1,596.75 $2,152.50

Answers

The mortgage brokerage fees for Kala's house are $1,296.75. Therefore, the correct option is b.

Kala is financing a house for $123,500. She has to pay $300 plus 1.05% for a brokerage fee. The amount of mortgage brokerage fees can be calculated using the following formula:

Total Mortgage Brokerage Fees = (Percentage fee x Mortgage amount) + Flat fee.

In this case, Mortgage amount = $123,500, Flat fee = $300, and Percentage fee = 1.05% = 1.05/100 = 0.0105

Substitute the given values in the formula:

Total Mortgage Brokerage Fees = (0.0105 x $123,500) + $300= $1,296.75

Therefore, the amount of mortgage brokerage fees are $1,296.75. Hence, option (b) is correct.

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What happens to the area of a circle if the circumference is doubled?
A. The area is 1/2 of the original circle
B. The area is the same as the original circle
C. The area is 2 times the original circle
D. The area is 4 times the original circle
E. The area is 8 times the original circle​

Answers

Answer:

Option C

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Answer:

Hello There!!

Explanation:

The answer is D. The area is 4 times the original circle.

hope this helps,have a great day!!

~Pinky~

Which of the following statements is a strong reason for giving credit to sources of data in a formal business doccument

Answers

Answer:

It shows you have done solid research to back up your conclusions.

Multiple choice options for this question are as follows:  online source

A). It shows you have done solid research to back up your conclusions.

B). Readers of a business document do not pay attention to sources

C). Giving credit is easier than treating others' ideas as your own

D). It is a requirement of MLA and APA styles

Explanation:

Giving credit to your sources is a phrase that refers to Referencing or citing the source of your information. It is important to the reader or user of the document because they can always go back and verify the data's accuracy. Referencing also leaves a trail that can be used to see the views and opinions of other business people or researchers .

Giving credit to your sources in a formal business document shows you took the time to research the subject matter. It gives the impression that you can relate your ideas to the views of other professionals in the industry.

Answer:

A). It shows you have done solid research to back up your conclusions

Explanation:

A(n) _____ identifies how you feel about an activity or subject.

Answers

Answer:

Survey

it questions and identifies how you feel about an activity or subject.

Answer: interest theory

took it on edg.

How do I quit my job as cashier already wrote resignation letter

Answers

dont walk up to ur boss n dont say nun n jus walk out dat mf yo
Then your good job t

Identify and explain the three basic steps strategy formulation

Answers

The first three steps in the strategic management process are part of the strategy formulation phase. These include analysis, strategy formulation, and goal setting. The final two steps in strategic management constitute implementation.

I hope this helps it’s all I know

In order for an advertising program to succeed, the advertiser must accurately and effectively identify its?

Answers

In order for an advertising program to succeed, the advertiser must accurately and effectively identify its audience.

What is an advertising program?

This can be described as the means of promotion after developing a good product and service,  which help  to communicate that value or our product or service benefits to consumers.

It can be seen as a means to communicate with the audience about the products and this process if communication process is called an advertising program.

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in addition to time needed for processing, what must a firm that offers a large variety of products or services consider when planning capacity?

Answers

The comparison reveals that option B) Net cash flow + Cash outflow = Cash inflow is the correct response.

Take into account the details offered. The difference between a company's cash inflows and cash outflows is known as net cash flow. The calculation method was as follows: Inflow of cash minus outflow of cash equals net cash flow. Simplify the formula above. Net cash flow plus cash outflow equals cash inflow. Cash inflow – Net cash flow – Cash outflow. Compare the options offered right now. By comparing the two options, it can be seen that option B) is correct: Net cash flow + Cash outflow = Cash inflow. By comparing the two options, it can be seen that option B) is correct: Net cash flow + Cash outflow = Cash inflow.

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There is no such thing as "the law" in that law comes from many different sources.

Answers

Answer:

At both the federal and state levels, the law of the United States can be traced back to the common law system of English law, which was in force in the American colonies during the time of the Revolutionary War. Since then, U.S. law has diverged greatly from its English roots both in terms of substance and procedure. The main departure occurred when the United States ratified the Constitution in 1789. In effect, the Constitution and federal statutes and laws made in furtherance of the Constitution were established as “the supreme Law of the Land.” From that point on, the law of the land was no longer based on legal practices in England but became distinctly American and home grown. When the individual states ratified their state constitutions, the state legislatures obtained the power to establish state law, or the “Law of the State.” Together, this collection of federal and state laws constitutes something we often refer to as the “body of law.” This body of law governs the behavior of individuals, businesses, and even governments. Just like the human body, the “body of law” is comprised of multiple parts, each performing an individual function while simultaneously working together as a whole. In this section, we will examine two of the most fundamental types of laws, followed by nearly every nation in the world: statutory law and common law.

the logistics process of recycling or disposing of returns from customers or from resellers is known as

Answers

The logistics process of recycling or disposing of returns from customers or from resellers is known as reverse logistics.

What is the reverse logistics process?

Reverse logistics, as it is commonly known, is the movement of commodities away from their usual final location in order to increase their value or ensure correct disposal. The management and sale of excess inventory or raw materials, as well as the delivery of rented machinery, equipment, and other hardware back to the leasing company, are all included in reverse logistics. Another name for it is returned.

Every e-commerce fulfillment operation needs management to be successful. An order's return procedure is known as reverse logistics. Moving the product back to its place of origin once it leaves the client is known as this process. Reverse logistics, in essence, is the handling or process of an item after the initial sale.

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BHS Inc. determines that sales will rise from $400,000 to $550,000 next year. Spontaneous assets are 60% of sales, and spontaneous liabilities are 30% of sales. BHS has an 8% profit margin and a 40% dividend payout ratio. What is the level of required new funds

Answers

The level of required new funds for BHS Inc. is $68,600.

To calculate the level of required new funds for BHS Inc., we need to consider the increase in sales, the percentage of spontaneous assets and liabilities, the profit margin, and the dividend payout ratio.

Sales increase: $550,000 - $400,000 = $150,000

Spontaneous assets: 60% of sales = 0.60 * $550,000 = $330,000

Spontaneous liabilities: 30% of sales = 0.30 * $550,000 = $165,000

Increase in spontaneous assets: $330,000 - ($400,000 * 0.60) = -$6,000 (negative value indicates a decrease)

Increase in spontaneous liabilities: $165,000 - ($400,000 * 0.30) = $45,000

Total increase in spontaneous funding: Increase in spontaneous liabilities - Increase in spontaneous assets = $45,000 - (-$6,000) = $51,000

Profit margin: 8% of sales = 0.08 * $550,000 = $44,000

Dividend payout: 40% of profit = 0.40 * $44,000 = $17,600

Required new funds: Increase in spontaneous funding + Dividend payout = $51,000 + $17,600 = $68,600

Therefore, the level of required new funds for BHS Inc. is $68,600.

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XYZ is an established business and has written a business plan in order to request additional funding from a local bank. Unlike a plan for a new business, their business plan will include which information?

Answers

Answer:

Growth Highlights

Explanation:

When a new business is to start up, and it requires funding it shall propose the business idea to investors, but it depends upon the discretion of investors whether or not to invest, and their results are dependent upon the expectations of the business idea.

Whereas when a established business requires further funds, it can state the statistical records and performance reports which shall highlight the growth achieved by the business already.

This shall ensure the investors about their returns in a more confident manner.

Funding from local bank shall include the growth results achieved till now, in order to create the investor confidence.

pancakes and waffles are:
a.complements
b.normal goods
c.substitute
d.inferior goods

Answers

Answer:

they are always compliments

Explanation:

is this based on our opinion?

I think pancakes and waffles are Complements

for each transaction, determine the impact—increase, decrease, or no effect—on total assets, total liabilities, and total equity. 14000 of common stock for cash

Answers

For the transaction of purchasing $14,000 of common stock for cash: The impact on total assets is an increase of $14,000. There is no impact on total liabilities or total equity.

When common stock is purchased for cash, it represents an equity transaction for the company. Equity accounts for the ownership interest in the company held by shareholders. In this case, the company receives $14,000 in cash from the issuance of common stock.

Total assets represent the resources owned by the company, and an increase of $14,000 in cash will result in an equal increase in total assets. Cash is an asset, and by receiving $14,000 in cash, the total assets of the company will increase by the same amount.

Total liabilities, which represent the company's debts and obligations, are not affected by the purchase of common stock for cash. This transaction does not involve any borrowing or changes in liabilities.

Total equity is the residual interest in the company's assets after deducting liabilities. Since the transaction involves an increase in equity (issuance of common stock), it will not have any impact on the existing total equity.

Therefore, the impact of the transaction is an increase in total assets and no effect on total liabilities and total equity.

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Dont worry about me, I just added this answer so the other person can get their brainliest because they definetly deserve it

Answers

HI HI HI HI HI HI HI HI WATER IS H20

What? Are you ok buddy

an agent recommends that a customer purchase an unregistered non-exempt security. this is a violation of which section of the uniform securities act?

Answers

This is regarded as a forbidden action. Part I includes

anti-fraudIllegal activities

What is the Uniform Securities Act's purpose?

The Uniform Securities Act was created as a model law to serve as the framework for state-level securities regulation. The Uniform Securities Act was established to assist in the enforcement and regulation efforts of the Securities and Exchange Commission (SEC). One of its objectives is to stop state-level securities fraud.

What types of securities are within the unified securities act's purview?

Secured Exemption - Bank, government, nonprofit, and insurance contract securities are typical examples of exempt securities.

What is considered to be a person under the Uniform Securities Act?

The term "Persons" as used in the Uniform Securities Act includes partnerships, corporations, unincorporated businesses, and local governments.

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Which query will output all products with their expiration date (one year from the purchase date)?

Answers

The query that will output all products with their expiration date (one year from the purchase date) is SELECT P_CODE, P_INDATE, ADD_MONTHS(P_INDATE, 12) AS EXPDATE FROM PRODUCT ORDER BY P_CODE.

We don't have ADD_Years() function in sql so option C is not valid. To_Date or To_Char function can be used to convert the date to particular date Format. So option a,option b can't be used directly.

Output is the amount of products or services produced in a given time period (for example, a year). Output for a business manufacturing a single commodity could simply be the number of units produced in each time period, such as a month or a year.

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Promotional discounts are given to stores by manufacturers to place their products in preferred locations in the store and to display their products in a ski manufacturer sells a local ski shop 35 pairs of their new store window: skis for $7000, which is a discount of $2,625. What is the percentage of the discount given to the store? (Round your answer to the nearest whole percent.)

Answers

Answer:

27%

Explanation:

The ski was sold for $7,000 which has a discount of $2,625.

the price before discount is

= $7,000 + $2,625.

=$9,625

the discount as a percentage

=$2,625 / $9,625  x 100

=0.272727 x 100

=27.27%

=27%

ethical issues in brand management can include all of the following except:

Answers

The "Ethical-issues" in brand-management include all the options except  (d) domain constitution.

The Domain-Constitution refers to the process of establishing and assigning domain names for websites. It is not directly related to ethical issues in brand management.

Ethical concerns in brand management generally revolve around issues like brand infringement (a), cyber squatting (b), and the potential loss of trademark protection when a brand name becomes a generic term (e). However, domain constitution is not considered as an ethical issue in brand management.

Therefore, the correct option is (d).

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The given question is incomplete, the complete question is

Ethical issues in brand management can include all of the following​ EXCEPT:

(a) brand infringement

(b) cyber squatting

(c) new brand names like Go-ogle and​ Twit-ter, because the names have entered everyday​ conversation, as in​ "I Go-ogled​ myself" or​ "I Tweeted​ you."

(d) domain constitution

(e) when a brand becomes so​ well-established that it may be considered a generic​ term, such as a Kleenex tissue or a Xerox copy.

Your pay rate is $18 per hour and you have worked 50 hours for the first week of the pay period and 50 hours for the second week of the pay period. Reminder: Your regular work hours is 40 hours for the week and you get paid bi-weekly and time and a half is paid for overtime hours. Calculate your gross pay.

Answers

Answer:

$1,260

Explanation:

$18 is the rate of pay for 40 hrs/week

$27 is the rate of pay for the extra 10 hrs/week (18 + 9)

A total of 100 hours for the pay period, 80 of those are 18/hr, 20 are 27/hr

40(18) + 20(27) = 720 + 540 = 1260

Please let me know if you have any questions.

Theory Y managers: a.Seek to reduce responsibilities to a level at which few mistakes are made b. View mistakes and errors as necessary phases of the learning process c.Believe they must control, direct, force, or threaten employees to make them work d.View employees as having little ambition

Answers

Theory Y managers are a type of manager that believes in a more participative and collaborative approach to leadership.

They do not seek to reduce responsibilities to a level at which few mistakes are made but rather view mistakes and errors as necessary phases of the learning process. Theory Y managers recognize that their employees are human beings with their own thoughts, ideas, and ambitions. They believe that if given the right tools and environment, employees will naturally want to work towards the common goal of the organization. Theory Y managers do not believe that they must control, direct, force, or threaten employees to make them work. Instead, they encourage open communication and provide opportunities for employees to take on more responsibility and grow within their roles. This type of management style leads to a more engaged and motivated workforce, as employees feel valued and respected. In summary, Theory Y managers view mistakes and errors as necessary phases of the learning process and do not seek to reduce responsibilities to prevent mistakes from happening. They believe in providing a supportive and empowering work environment, where employees can grow and develop their skills and ambitions. They do not believe in controlling, directing, forcing, or threatening employees to make them work.

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in the context of guidelines used by the courts to determine whether noncompete agreements are legally acceptable, a noncompete agreement should:

Answers

A noncompete agreement should be reasonable in scope, time, and geography in order to be legally acceptable according to the guidelines used by the courts.

Noncompete agreements are contracts in which an employee agrees not to work for a competitor for a certain period of time after leaving their current employer. In order for these agreements to be legally enforceable, they must be reasonable in scope, time, and geography. This means that the restrictions placed on the employee cannot be overly broad and must be necessary to protect the employer's legitimate business interests.
For example, a noncompete agreement that prohibits an employee from working in their entire industry for 10 years would likely be considered unreasonable by a court. However, a noncompete agreement that restricts an employee from working for a direct competitor in the same geographic area for 2 years may be deemed reasonable.
Overall, courts will carefully evaluate the terms of a noncompete agreement to ensure that it is not overly restrictive and that it is necessary to protect the employer's business interests. Any noncompete agreement that is too broad or too restrictive may not be legally enforceable.

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In the last paragraph, you need to compare your
country's government with what you know about the US
government.
Write your final paragraph in this space.

Answers

The government of my country is vastly different from the US government. In my country, the government is a unitary system, meaning that the power and authority are concentrated in a central government.

What is the comparison of our country's government with what you know about the US government?

Our government is a constitutional monarchy, with Queen Elizabeth II as the Head of State. The government is headed by a Prime Minister who is chosen by the majority party in the House of Commons. The US government is a federal republic, with the President as the Head of State. The government is headed by the President, who is elected by the people in a general election. Both governments have a bicameral legislature, consisting of an upper and lower house. Both countries have a system of checks and balances, where the executive, legislative, and judicial branches are equal. Additionally, both countries have a judicial system to uphold the rule of law. However, the US is a republic and the UK is a monarchy, so there are some differences in terms of how their respective governments are organized.

So, These were the comparison of our country's government with what you know about the US government.

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What others changes could lisa make possitively affect her budget

Answers

Some other changes that Lisa can make to positively affect her budget include:

Setting up budgeting goalsSetting up a monthly review

How can be budget better?

You did not include the whole question so I will give a general overview.

In order to be able to come up with a good budget, one thing that we need to do is to set up some budgeting goals. We need to figure out why we are budgeting and what we hope to gain for it. Having a reason for budgeting makes it easier to budget because we know what we are working towards.

It is also important to set up a monthly review of our budget to see how well we are doing with it. This monthly review will show if we are sticking to the budget and what we can do to be better at the budgeting process. Budgeting is not easy the first couple of times so we need a review to keep us on track.

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Select the correct answer.
What type of advertising encompasses placing a print ad in an industry journal?
O A. direct response advertising

Answers

Print media advertising is a type of advertising that reaches consumers, business clients, and prospects through physically printed media like magazines and newspapers.

What is  print ad in an industry journal?

The same target demographics are also reached by advertisers via digital media, including banner ads, mobile advertising, and social media advertising. Although conventional print media spending on advertising has decreased as a result of the growth of digital media, print is still alive and well.

Newspapers of all stripes, including local, regional, and national publications, are available to advertisers. These publications are available in daily, evening, weekly, and Sunday versions. Newspapers target various readerships with a variety of material, frequently incorporating local, national, or international news along with sports, entertainment, business, fashion, and politics.

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If the average speed of a drag racing car is 0.05 miles per second, how long would it take the car to complete a 0.25 mile straight track? Which was NOT a reason for Germany's economic depression?ResponsesHaving to pay Allies reparations for WWI Having to pay Allies reparations for WWI, The US was also suffering a depression and couldnt provide loans The US was also suffering a depression and couldnt provide loans,Communist economic policies spread wealth to the wrong people Communist economic policies spread wealth to the wrong people,Paper money lost its value after WWIPaper money lost its value after WWI, a type of bacteria doubles every (t) hours, and we will begin a culture with 10 bacteria. give the function that expresses the amount of bacteria b there will be after t hours Minimum contacts with a state are necessary for jurisdiction over a nonresident defendant, including corporations True False BRAINLIEST! and MAX POINTS!Given the following numbers:,25,8,3,27part A. Approximate the square root terms using the perfect squares approximation method. Your answer should be a mixed fraction. Make sure to show your work.Please note pi does not need to be approximated by the perfect squares approximation method as it is not a square root.part B. Order the numbers from least to greatest. Please show your answer using the original symbols and radicals provided. You may use decimals or fractions as part of your work for figuring it out. is -4 rational or irrtaional What was the name of the British Queen that early explorers tried to win the heart of? a)Virginiab)Maryc)Georgiad)Carolina Which table shows a proportional relationship? helppppHow does Sarah Bagley characterize the practices at Lowell mill in the Voice of Industry?a. as an affront to individual rightsb. as class warfarec. as an insult to female sensibilitiesd. as a moral wronge. as a stage in an economic revolution In Canada, the two primary law-making bodies arethe legislatures and the courts.Select one:TrueFalse rank the following carbonylcontaining compounds in order of reactivity towards nucleophilic acyl substitution. --Most reactive --Least reactive Answer Banks: 1. acetic propionic anhydride. 2. 3-methylpentanoyl chloride 3. propionamide 4. hexyl propanoate He was one of three tenor saxophonists in Woody Herman's Four Brothers Band. He is also known for popularizing the bossa nova style. one problem with harvesting sharks commercially is that they are Identify the vertical and horizontal asymptotes for f(x)=2x^2+4 over x^2-5x+6. Show ALL of your steps. Find parametric equations for the path of a particle that moves along the circle x2 + (y - 3)2 = 16 in the manner described. consider the function (x)=36x2 f ( x ) = 3 6 x 2 on the interval [6,4] [ 6 , 4 ] . Find the average or mean slope of the function on this interval, i.e. (4)(6)4(6) f ( 4 ) f ( 6 ) 4 ( 6 ) Answer: By the Mean Value Theorem, we know there exists a c c in the open interval (6,4) ( 6 , 4 ) such that (c) f ( c ) is equal to this mean slope. For this problem, there is only one c c that works. c= c = Note: You can earn partial credit on this problem (0.95x -0.04)-(0.99x -0.13) PLEASE HELP MEIdentify the polynomial divisor, dividend, and quotient represented by the synthetic division.Divisor:A. 3B. 3C. x 3D. x + 3Dividend:A. 2x3 + 11x2 + 18x + 9B. -6x3 - 15x - 9C. 2x2 + 5x + 3Quotient:A. 2x4 + 11x3 + 18x + 9B. 2x3 + 5x2 + 3xC. 2x2 + 5x + 3 ahnberg corporation had 820,000 shares of common stock issued and outstanding at january 1. no common shares were issued during the year, but on january 1, ahnberg issued 440,000 shares of convertible preferred stock. the preferred shares are convertible into 880,000 shares of common stock. during the year ahnberg paid $264,000 cash dividends on the preferred stock. net income was $3,790,000. what were ahnberg's basic and diluted earnings per share for the year? Suppose you take out a margin loan for $71,000. You pay an effective rate of 6.4 percent. If you repay the loan in three months, how much interest will you pay? (Do not round intermediate calculations. Round your answer to 2 decimal places.)