Ask question

Ask question

All categories

3 years ago

12

Dan buys a property for $260,000. he is offered a 30-year loan by the bank, at an interest rate of 6% per year. what is the annu

al loan payment dan must make?

1 answer:

Law Incorporation [45]3 years ago

8 0

20,280 is the right answer

You might be interested in

daser333 [38]

When you invest into a businesses, down the road you will end up make it more money if the businesses does well, if it does not you lose the money you invested in that businesses. It’s a risk. I don’t really understand what your asking.

3 0

3 years ago

If the price of good A decreases by 10 percent and the quantity demanded of good B increases by 10 percent, this is evidence tha

Lostsunrise [7]

Answer:

b. complement goods

Explanation:

Complement goods -

These are the type of goods , that are related to each other in a certain manner , is referred to as complement goods.

These type of good are also referred to as paired goods or associated goods .

In case of complement goods , if a person buys first good , then he might require the second good too.

These goods can even alters the prices of each other .

For example ,

people buying a CD player , need to buy the corresponding CD too , and hence ,

CD player and CD are complement goods.

Hence , from the given scenario of the question,

The correct option is b. complement goods .

A complementary good is a good whose use is related to the use of an associated or paired good. Two goods (A and B) are complementary if using more of good A requires the use of more of good B.

6 0

3 years ago

Melba purchases land from Adrian. Melba gives Adrian $225,000 in cash and agrees to pay Adrian an additional $400,000 one year l

Scorpion4ik [409]

Answer:

Melba's adjusted basis for the land at the Acquisition date is $625000
Melba's adjusted basis for the land one year later is $645000

Explanation:

The adjusted basis for a property/land is the net cost of the property after adjusting for factors that might attract tax as related to the land

The adjusted basis for the land at the acquisition date is the net cost of the land at the acquisition date which will be ( $225000 + $400000 ) because that was the net cost of the Land at the date of acquisition before an agreement was later reached by Melba requiring him to pay $400000 plus an interest of 5%

Hence the adjusted basis for the land one year later will be

= ( $225000 + $400000 ) + 5% of $400000

= ( $625000 ) + $20000

= $645000

6 0

3 years ago

On December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudou

Naddika [18.5K]

Answer:

The correct answer is B. (3,375) = NA + (3,375) NA − 3,375 = (3,375) NA.

Explanation:

The question asks for the effect of the adjusting entry on December 31, Year 1, that is, the creation of the 3% allowance for uncollectible debts.

Allowance for bad debts = 3% x $112,500 = $3,375

Its effect is as follows.

Assets: Since accounts receivable (an asset) is reduced, assets are reduced by $3,375.

Liabilities: No effect.

Equity: As Equity = Assets - Liabilities, the net effect is to reduce the equity by $3,375.

Revenue: No effect.

Expenses: Sales worth $3,375 is written off as an expense. Hence, total expenses increase by $3,375.

Net increase: As revenue remains unchanged while expenses increase by $3,375, the net increase is a negative of $3,375.

Cash flow: No effect, because there is no exchange of cash since the amount of $3,375 was never received by Loudoun Corporation.

These entries correspond to option B. which is thus the correct answer.

8 0

3 years ago

Some economists believe that permanently lower marginal income tax rates __________ the incentive to work and thus shift the ___

gtnhenbr [62]

Answer:

The answer is "increase; LRAS curve to the right".

Explanation:

The curve LRAS represents the flow between all the level of wages and economic GDP supplied because all prices are fully flexible, also with nominal salaries; its cost may change all along LRAS, however, the output cannot, as it represents the complete output of workers, that's why the several economists say that lower marginal rate consistently increases the motivation to work, shifting the LRAS curve to the left.

6 0

3 years ago