Answer:
Interest for second year $2,114.08
Explanation:
given data
loan Amount = $40,000.00
Interest rate r = 6.00%
time period t = 7
solution
we get here first Equal Monthly Payment EMI that is express as
EMI = 
................1
here P is Loan Amount and r is rate and t is time period
put here value and we get
EMI = 
EMI = $7165.40
now
we get here interest for second year that is
Closing balance at year 1 = opening balance + Interest - EMI Payment
Closing balance at year 1 = $40,000 + $2400 - $7165.40
Closing balance at year 1 = $35234.60
so Interest for second year $2,114.08
The percentage of the money given to practitioner is called "commission"
For a high-risk investment, managers require a high reward.
<span>Everything else held constant, when a country's currency depreciates, the country's goods abroad become less expensive and foreign goods in that country become more expensive.</span>
If Estates are required to file income tax returns if their gross income exceeds $600 and all corporations must file regardless of income. This is called <u> Tax filing requirements.</u>
<u />
<h3>What is Tax filing requirements?</h3>
Tax filing requirements can be defined as the requirement a person or a tax payer is expected to meet or abide by while filing for tax return.
Tax payer must always check tax filing requirement in order to know whether they meet the requirement before filling for a tax return.
Therefore this is called <u> Tax filing requirements.</u>
The complete question is:
Estates are required to file income tax returns if their gross income exceeds $600. All corporations must file regardless of income.
Learn more about Tax filing requirements here:brainly.com/question/14748046
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