Answer:
wheres the picture to get your answer
Answer:
Amortized loan
Explanation:
An amortized loan is a type of debt in which borrower prepares a schedule for the repayment of principal and interest. The schedule is prepared based on amortization rate and years to maturity. The amortization schedule calculates the minimum monthly payment which includes principal and interest.
Answer:
The annual loan payments are closest to $3,395.36
Explanation:
The annual payment on the amortized loan can be ascertained using the pmt formula in excel :
=pmt(rate,nper,-pv,fv)
rate is the 9% annual return expected by the uncle
nper is the length of repayment which is 4 years
pv is the amount borrowed which is $11,000
fv is the future worth of the loan which is unknown
=pmt(9%,4,-11000,0)=$3,395.36
Answer:
The inventory would be increased by $55,283 and the profit has been decreased by the same amount.
Explanation:
The reason is that the closing inventory has been increased by the difference of the correct and incorrect amount which is:
Closing inventory difference = $225,513 - $170,230 = $55,283
This will increase the closing inventory in the balance sheet and the increase in the closing inventory will decrease the cost of goods sold. The lower the cost of goods sold the greater is the profit.
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