All categories

2 years ago

A next monthly interest payment on a loan with a principal balance of $19,531 is $109.86. what is the interest rate on the loan?

1 answer:

7 0

The next monthly interest payment on a loan with a principal balance of $19,531 is $109.86. 6.75% is the interest rate on the loan.

The interest rate is the percentage of the loan that the borrower pays to the lender. Most loans pay interest in addition to the principal. Lending rates are usually expressed in his APR or APR which includes both interest and fees.

Monthly Interest Payment means the amount of interest payable on the Payment Date for the preceding Interest Period based on the interest calculated at the Monthly Interest Rate for the preceding Interest Period.

Interest is an additional payment known as interest on top of the principal paid to a lender for the right to borrow money.

Learn more about monthly interest payment at

brainly.com/question/2151013

#SPJ4

You might be interested in

Prepare a December 31, 2020, balance sheet for Long Print Shop from the following: cash, $50,000; accounts payable, $38,000; mer

Bumek [7]

Answer:

Long Print Shop

Balance sheet for the year ended December 31, 2020

Amount in $ Amount in $

Assets

Non-current asset

Equipment 20,000

Current assets

Merchandise inventory 14,000

Cash 50,000

Total current asset 64,000

Total assets 84,000

Liabiities

Accounts payable 38,000

Total liabilities  38,000

Equity

Capital 46,000

Total equity 46,000

Total liabilities and equity 84,000

Explanation:

The accounting equation shows the relationship between the elements of a balance sheet which are assets liabilities and equity. This may be expressed mathematically as

Assets = Liabilities + Equity

While assets include fixed assets, cash, inventories, account receivables etc, liabilities include accounts payable, loans payable, accrued expenses etc.

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

5 0

3 years ago

Fluegge Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing

Softa [21]

Answer:

$14,016 favorable

Explanation:

The computation of the raw materials price variance is shown below:

= Actual Quantity × (Standard Price - Actual Price)

= 23,360 liters × ($5.40 - $4.80)

= 23,360 liters × $0.6

= $14,016 favorable

We simply deduct the actual price from the standard price and then multiplied it by the actual quantity so that actual value can come

8 0

4 years ago

Which of the following is NOT a strong warning sign of potentially violent behavior? A. Constantly complaining about the job B.

sweet [91]

B. Frequently returning late from lunch break.

4 0

4 years ago

Read 2 more answers

While it may not be possible to make the receiver happy when you deliver bad news, you can reduce bad feelings by structuring yo

OlgaM077 [116]

Answer:

Care and concerned use A) Unnderstanding
open to bad news C) When it may benefit them or somebody else
Candidate interview... C) close with good wishes D) Buffer the opening
Forgot to turn in report .... B) Accept responsibility of the mistake D) Apologize with sincerity
Bakery customer ... A) Defensive remark B) freebie or promotional discount C) a statement of company policy regarding refund
It provides no explanantion. A) It makes a promise that might br difficult to keep

Explanation:

To make somebody feel cared you must show understanding of his/her problems.
People are open to bad news if you present them with facts and tell about the best possible outcome for everyone
Reject a candidat with good wishes and providing feedback on his/her application.
When you make a mistake accept responsibility and apologize with sincerity. You must try to suggest an alternative to make up for your mistake
Defend your product with a remark that would gain understanding of the customer. Adhere to the company policy and offer something to make the customer happy
The letter doesn't mention any reason for not being able to make exceptions. A promise is made that might be difficult to keep as different people may have different expectations for "bigger bonus checks"

7 0

4 years ago

Describe at least four ways you can take money out of a checking account.

Klio2033 [76]

Answer:

yes

Explanation:

You, as the account owner, can also withdraw or remove funds from the account. You can withdraw by automatic electronic transfer, check, ATM card or debit card. There are many ways these days to withdraw money from your accounts.

7 0

3 years ago