The amount of interest expense recognized by jones in the current fiscal year is $306
The following illustrates how interest costs were calculated:
= Principal * Interest * Days * Days * Rate of Interest (total number of days in a year)
Simple interest is a simple and straightforward formula for figuring out how much interest will be charged on a loan. The daily interest rate, the principal, and the number of days between payments are multiplied to determine simple interest.
Simple interest is calculated by dividing the principal by the time, interest rate, and time period. "Simple Interest = Principal x Interest Rate x Time" is the written formula. This is the most fundamental formula for calculating interest.
= $79800.00 x 6% x (23 / 360)
= $305.98
The nearest dollar is $306
the period of 23 days runs from July 8 to July 31.
By multiplying the principal amount by the rate of interest and the duration, we simply applied the basic interest formula.
Learn more about simple interest at
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Answer:
Explanation:
These occur when mass producing a good results in lower average cost. Economies of scale occur within an firm (internal) or within an industry (external). Internal Economies of Scale - As a business grows in scale, its costs will fall due to internal economies of scale.
Answer: Inelastic
Explanation:
The coefficients in a log-log model represent the elasticity of your dependent variable with respect to your independent variable. In other words, the coefficient in a log-log demand model is the estimated percent change in with respect to a percentage change in the independent variables like , , M, , etc.
Thus, coefficient of represents the elasticity of demand for good X with respect to Price of good x. So, Own-price elasticity of good x is 0.8.
Since this is less than 1 the good is relatively inelastic.
To find Simon's maximum amount he can borrow against his home you will use the Home Loan Value Formula.
Home is worth: $400,000
Remaining balance: $175,000
Borrow: up to 75% on home
First, you'll want to take the market value of $400,000 and multiply it by 75% (.75) which gives you $300,000.
Then, you'll need to subtract what Simon owes on the home to find the amount he can borrow.
$300,000 - $175,000 = $125,000
Simon can borrow $125,000 against his home.
Answer:
a. selling identical items.
Explanation:
A pure competition market is characterized by many firms selling a homogeneous product in a market with many buyers. There are no dominant suppliers; hence no single or group of sellers can influence the price. Pure competition is also the perfect competition.
The key characteristics of pure competition are
- There are many buyers and sellers
- All firms sell an identical product
- All sellers are price takers. None can influence prices
- There is intense competition due to the high number of sellers
- Ease of entry and exit from the market.