1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
aniked [119]
1 year ago
9

Given

Business
1 answer:
Usimov [2.4K]1 year ago
7 0

Total interest=$489.58

Balance after 100th day=$5,819.44

Balance after 180th day=$2,448.77

Final payment=$2,489.58

Compute the total interest, the balances on the 100th and 180th days as well as the final payment of the loan?

In the first place, ordinary interest means simple interest, in other words, the simple interest approach would be used in computing the interest due at every point in time.

Interest=loan balance*interest rate*number of days that interest is due/360 days

Interest on 100th day=$11,500*10%*100/360

Interest on 100th day=$319.444444

balance after 100th day=initial principal+ interest-partial payment

balance after 100th day=$11,500+$319.444444 -$6,000

balance after 100th day=$5,819.444444

Note it has been 80 days since the payment of the last interest on 100th

interest on 180th day=$5819.444444 *10%*80/360

interest on 180th day=$129.320988

balance of the loan on the 180th day=$5,819.444444+$129.320988-$3,500

balance of the loan on the 180th day=$2,448.765432

The final payment would be the balance as of the 180th day plus the interest for the last 60 days(180th-240th)

final interest=$2,448.765432*10%*60/360

final interest =$40.812757

Final payment=$2,448.765432+$40.812757

Final payment=$2,489.58

Total interest=$319.444444+$129.320988+$40.812757

Total interest=$489.58

Find a further guide in the link below:

brainly.com/question/10710550

#SPJ1

You might be interested in
Bramble, Inc., manufactures golf clubs in three models. For the year, the Big Bart line has a net loss of $6,600 from sales $200
Advocard [28]

Answer and Explanation:

The preparation of the analysis is shown below:

Particulars   Continue Eliminate       Net Income (Decrease)

Sales          $200,000        $0          -$200,000

Less: Variable Costs $176,000 $0         -$176,000

Contribution margin $24,000 $0          -$24,000

Fixed Costs $30,600           $20,600   $10,000

Net Income/Loss -$6,600   -$20,600   -$14,000

As we can see that in both the cases whether eliminate or continue the amounts comes in negative but in continue there is a less amount of loss as compared to eliminated one

Therefore, in this case, the big Bart line could be continued

8 0
3 years ago
Mallory Furniture buys two products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 1
Afina-wow [57]

Answer:

3,000 cubic feet left of storage.

Explanation:

Giving the following information:

Big shelves (B):

Each big shelf costs $500.

It requires 100 cubic feet of storage space.

Medium shelves (M):

Each medium shelf costs $300

It requires 90 cubic feet of storage space.

The company has $75,000 to invest in shelves.

The warehouse has 18,000 cubic feet available for storage.

Mallory purchase 150 big shelves.

Amount of money= 150* 500= $75,000 (no money left).

Cubic feet= 150* 100= 15,000 cubic feets

3,000 cubic feet left of storage.

8 0
2 years ago
Fosnight Enterprises prepared the following sales​ budget: Month Budgeted Sales March April May June The expected gross profit r
kvv77 [185]

The question is incomplete as the figures are missing. The complete question is,

Fosnight Enterprises prepared the following sales​ budget:

Month       Budgeted Sales

March         $6,000

April            $13,000

May             $11,000

June            $20,000

The expected gross profit rate is  20​% and the inventory at the end of February was  $7,000.  Desired inventory levels at the end of the month are  30​%  of the next ​month's cost of goods sold.  What are the total purchases budgeted for May?

Answer:

Purchases - May = $10960

Explanation:

To calculate the total value of purchases that are budgeted for May, we first need to calculate the cost of goods sold and the opening and closing inventory for May.

As the gross profit margin is 20%, the cost of goods sold will be 80% of sales.

Cost of goods sold for May = 0.8 * 11000 = $8800

Cost of goods sold for June = 0.8 * 20000 = $16000

Opening inventory - May = 8800 * 0.3  = $2640

Closing Inventory - May = 16000 * 0.3  = $4800

Purchases = Closing Inventory + Cost of Goods Sold for the month - Opening Inventory

Purchases - May = 4800 + 8800 - 2640

Purchases - May = $10960

3 0
2 years ago
True or false: If Dogs R Us overstates ending inventory on the balance sheet, then total equity on the balance sheet will be ove
ANEK [815]

Answer:

True

Explanation:

The statement is true

6 0
2 years ago
The definition of input , out put and processing please
goldfiish [28.3K]

The best definitions of input, output and processing are as follows:

  • Input refers to the resources that are used up in production to create further value, finished goods, or more input for further processing.

  • Processing is the intervening activity that changes the input to output.

  • Output is the product of processing input or resources.  Output is typically the finished outcome from a processing activity.

<h3>What is the relationship between input, output, and processing?</h3>

Processing is at the center of input and output.  

Processing involves changing, manipulating, or transforming input resources into output or finished products.

Thus, the definitions of input, output and processing are as given above.

Learn more about input, output, and processing at brainly.com/question/25250720

5 0
2 years ago
Other questions:
  • On a separate sheet of paper, copy the multi- flow map below. organize information on how firms determine their total costs by c
    12·1 answer
  • Clarespharm, a pharmaceutical company, wants to be the market leader in the country of Jefnamia by the end of the next fiscal ye
    11·1 answer
  • Equilibrium is defined as:
    14·2 answers
  • What is the standard for the protection of free speech guaranteed by the First Amendment?
    15·1 answer
  • Select the best answer for the question.
    6·2 answers
  • Match the following:Part A1. A mark used in the sale or advertising of services to distinguish the services of one person from a
    7·1 answer
  • Midori Company had ending inventory at end-of-year prices of $138,500 at December 31, 2013; $165,771 at December 31, 2014; and $
    14·1 answer
  • When demand is unit elastic, price elasticity of demand equals a. 1, and total revenue and price move in the same direction. b.
    13·1 answer
  • Salon Products recently introduced a new acai berry shampoo. Rinn, director of new product development, has just reviewed the di
    11·1 answer
  • On January 2, 2018, Ava Co. issued at face value $119,600 of 7% bonds convertible in total into 13,686 shares of Ava's common st
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!