Answer:
the answer is D terms and conditions set forth in a lending agreement to reduce the probability of non-payment
Explanation:
covenants help lenders detect deteriorating loan quality.
Answer:
Allura’s Little Robotics Company sells Good S in a perfectly competitive market with a downward-sloping demand curve and an upward-sloping supply curve. The market price is $62 per unit.
The following journal entry will be passed in the books of accounts and the interest expense is calculated to an amount of $9600
<u>Explanation:</u>
Given data:
amount of note: $200000, annual principal payments to be made each year at December 31st = $40000, interest amount to be charged = 6 percent, duration of note = 5 years
the following calculation is made in order to find out the amount of interest:
Amount of note minus principal payment multiply with rate of interest
now, putting the figures in formula:
interest = 200000 minus 40000 = $160000 multiply with .06 = $9600
Thus, the interest amount = $9600
The interest expense will be debited with an amount of $9600 in the books of accounts.
You need to go into excel and make it there
Answer:
$92,8571.7937
Explanation:
The computation of the amount after 40 deposits is shown below:
= (((1 + interest rate)^number of years - 1) ÷ interest rate)× principal
= (((1 + 0.06)^40-1) ÷ 0.06) × $6,000
= $92,8571.7937
We simply applied the above formula and the same is to be considered
We considered all the things given in the question
