Answer:
Finch has an interest expense deduction of the amount of $6,300.
Explanation:
Based on the information given in a situation where Finch pays George interest of the amount of $6,300 in which the amount of $7,000 was the principal payment on the note which means that Finch will have an interest expense deduction of the amount of $6,300 reason been that the amount of interest that was paid to George which is $6,300 will be the amount that is allowed for deduction.
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Learn more about Multinational corporations here brainly.com/question/494475
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If you had set the price of $17 per book among your friends
in a trade, the likely result would be that there will be a presence of surplus
books in which if the required is met, left overs will likely be produced
because of supply over the demand.
Explanation:
The adjusting entry is as follows
Accrued interest expense Dr $124
To Interest payable $124
(Being the accrued interest expense is recorded)
The computation is shown below:
= Borrowed amount × interest rate × given months ÷ total number of months in a year
= $6,200 × 12% × 2 months ÷ 12 months
= $124
Answer:
24.73%
Explanation:
(1 + i)ⁿ = future value / present value
annual interest rate = i
n = 52 years
future value = $11,750
present value = $0.12
(1 + i)⁵² = $11,750 / $0.12 = 97,917
1 + i = ⁵²√97,917
1 + i = 1.2473
i = 1.2473 - 1 = 0.2473 = 24.73%
