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nadya68 [22]
1 year ago
12

On August 31, 2021, Shocker borrows $57,000 from a local bank. A note is signed with principal and 9% interest to be paid on Aug

ust 31, 2022.
Business
1 answer:
vladimir2022 [97]1 year ago
7 0

9% interest to be paid on August 31, 2022, is  $1,710.

The price of return that lenders call for for the ability to borrow their cash. for example, the interest rate on credit playing cards is quoted as an APR. In our instance above, four% is the APR for the mortgage or borrower. The APR does not keep in mind compounded interest for the yr.

There are some public sectors in addition to private zone banks in India. although every bank, typically has a different range of interest price for savings bills, the rates commonly range from 2.70% p.a. to six.25% p.a. 2.70% p.a. to 6.50% p.a.

Paid interest is a hobby you've already been credited or paid for. As noted, before virtually having access to the hobby, it's really accruing. however, once that sum hits our account or balance, it is now known as a paid hobby.

Learn more about bank interest here:-brainly.com/question/15728540

#SPJ4

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Chancellor Ltd. sells an asset with a $1 million fair value to Sophie Inc. Sophie agrees to make six equal payments, each to be
cupoosta [38]

Answer:

$191,852

Explanation:

The computation of the annual payment is shown below

Given that

Loan Amount (P) = $1,000,000

Annual Interest Rate (r) = 6.00% per year

Loan Period (n) = 6 Years

Now

The Annual Lona Payment is

= [P × {r × (1 + r)^n}] ÷ (1 + r)^n - 1

= [$1,000,000 x {0.06 x (1 + 0.06)^5}] ÷ [(1 + 0.06)^6 - 1]

= $191,851.5363

= $191,852

Hence, the annual payment is $191,852

7 0
3 years ago
A principle under which the intent to form a contract will be judged by outward, objective facts as interpreted by a reasonable
andriy [413]

Answer:

Objective Theory

Explanation:

The Objective theory states that the intent to form a contract will be judged by outward objective facts such as the words and actions of the party instead of the secret, subjective intentions. This theory replaced the Subjective theory in the late nineteenth century. The former theory was of the opinion that the meeting of minds, which translates to the unexpressed intentions of the party would form a basis for interpreting the intent to form a contract.

The objective theory is important as it advocates freedom to a fair hearing, freedom of contract, and personal independence or sovereignty.  

5 0
3 years ago
Flyer Company sells a product in a competitive marketplace. Market analysis indicates that its product would probably sell at $4
Marrrta [24]

Answer:

Option (B) is correct.

Explanation:

Given that,

Selling price per unit = $48

Desired profit margin on sales = 12.5%

Flyer’s current full cost for the product = $44 per unit

Profit = Selling price × profit margin

         = $48 × 12.5%

         = $6

Target cost of unit = Selling price - Profit

                               = $48 - $6

                               = $42

8 0
3 years ago
_______ property is an ownership fence, which applies to resources like land that more than one individual owns jointly.
OverLord2011 [107]

Answer:

Common

Explanation:

6 0
2 years ago
Loop 1604 Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is
Charra [1.4K]

Answer:

Flexible budget variance for Sales Revenue = $3,960 Favorable

Explanation:

Provided budget is static budget, firstly for calculating flexible budget variance for Sales Revenue.

For this flexible budget is made of same level of quantity as of actual level.

therefore Flexible budget sales = 990 units @ $70 per unit price will be same as of static budget.

Therefore Variance = Standard Flexible Budgeted Sales - Actual Sales

Standard Flexible Budgeted Sales = 990 \times $70 = $69,300

Actual Sales Revenue = 990 \times $74 = $73,260

Since actual revenue is more than budgeted sales this is favorable.

Flexible Budget Variance for Sales Revenue = $69,300 - $73,260 = $3,960

Since actual revenue is more than budgeted revenue therefore this is a favorable variance.

Flexible budget variance for Sales Revenue = $3,960 Favorable

3 0
3 years ago
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