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1 year ago

Which type of interest does not change over the life of a loan?

Business

1 answer:

Bumek [7]1 year ago

5 0

Answer:

Fixed interest

Explanation:

A fixed-rate mortgage charges a set rate of interest that does not change throughout the life of the loan. You'll know exactly how much each monthly payment will be, as well as how much it will cost you overall to pay off the loan based on that rate.

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On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the

Illusion [34]

Answer:

The journal entry that is to be recorded on May 1 is shown below:

Explanation:

May 1

The first entry to be posted:

Accounts Receivable A/c...................Dr $5,800

Sales A/c............................................Cr $5,800

As the company made a sale, so the sale is credited and it made against the accounts receivable. Therefore, accounts receivable account is credited.

The second entry to be posted is as:

Costs of goods sold A/c....................Dr $4,000

Merchandise inventory A/c...................Cr $4,000

The cost of the goods sold amounts to $4,000. So, the account of COGS is debited and it is against the inventory. Therefore, the merchandise inventory is credited.

8 0

2 years ago

A bank has excess reserves of $1,000,000 and makes a new loan for $500,000. If the bank faces a 10% required reserve ratio, by h

lianna [129]

Answer:

Money supply increase=500000/10%=5000000

Explanation:

3 0

2 years ago

At the beginning of the year, a firm had current assets of $121,306 and current liabilities of $124,509. At the end of the year,

Alex73 [517]

Answer:

E $21,903

Explanation:

Formula:

Net working capital: Current assets - Current liabilities

At the beginning of the year the net working capital was:

Net working capital: Current assets - Current liabilities

Net working capital: 121,306 - 124,509

Net working capital: -3,203

At the end of the year the net working capital was:

Net working capital: Current assets - Current liabilities

Net working capital: 122,418 - 103,718

Net working capital: 18,700

The difference between the beginning and final net working capital was:

Difference: Final NWC - Inicial NWC

Difference: 18,700 - (-3,203)

Difference: 18700 + 3,203

Difference: 21,903

4 0

3 years ago

Next Generation's predetermined overhead rate is $16 per direct labor-hour and its direct labor wage rate is $11 per hour. Job #

Pavel [41]

Answer:

Unitary cost= $147.02

Explanation:

Giving the following information:

Next Generation's predetermined overhead rate is $16 per direct labor-hour and its direct labor wage rate is $11 per hour. Job1987 used $1,202 of direct materials and $5,500 of direct labor.

First, we need to calculate the allocated overhead to Job 1987:

direct labor hours= 5,500/11= 500 hours

Allocated overhead= 500*16= $8,000

Now, we can calculate the total cost and unitary cost of Job 1987:

Total cost= 1,202 + 5,500 + 8,000= $14,702

Unitary cost= 14,702/100 units= $147.02

3 0

3 years ago

What is a major difference between the world trade organization (wto) and the world bank?

Murrr4er [49]

The World Trade Organization (WTO) is the global international organization that deals with trade rules between different nations. The World Bank handles all financial assitance with developing countries around the world. Though they both help different nations, one handles the trade between nations and the other handles financial monetary assets.

8 0

3 years ago

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