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Sholpan [36]
3 years ago
13

A buyer took out a $6,000 loan for 10 years at 10.5% interest. The buyer made principal payments of $75 a month on the loan in a

ddition to interest. What would be the principal loan balance after 6 months of payments?
Business
1 answer:
larisa [96]3 years ago
3 0

Answer:

$5,550

Explanation:

Given:

Principle amount of the loan = $6,000

Duration of the loan = 10 years

Rate of interest = 10.5%

Principle payment made each month = $75

Now,

The total principle amount paid in six months

= Principle payment made each month  × 6 months

= $75 × 6

= $450

Now,

the principle amount payment is made on addition to the interest, therefore no interest will be due after 6 months

Hence,

the principle loan balance

= Principle loan amount initially - Total principle paid

= $6,000 - $450

= $5,550

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J. Morgan and M. Halsted are partners who share income and loss in a 3:1 ratio. After several unprofitable periods, the two part
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Answer:

cash   110,000 debit

  land                   100,000 credit

  gain at disposal  10,000 credit

--to reocrd teh sale of land--

accounts payable 80,000 debit

               cash               80,000 credit

--to record the payment of liabilities--

gain at disposal 10,000 debit

                Morgan           7,500 credit

                Halsted          2,500 credit

--to distribute the gain from sale--

Morgan 22,500

Haslted    7,500

   Cash                30,000

--to liquidate the partnership--

Explanation:

ratio 3:1 (3+1=4)

Morgan  15000 share of 3/4 = 75%

Halsted   5000 share of 1/4 = 25%

there is gain of 10,000 in the sale distribute as follow

Morgan 10,000 x 75% =  7,500

Halsted 10,000 x 75% =   2,500

Now we close the account against cash

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3 years ago
Miller Inc. Is a large corporation preparing to acquire GrowIt, a start-up business. Miller has many policies and procedures bas
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Answer:

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Thus, training in employees on the Human Resource level, might help in overcoming any kind of conflict faced by such employees, of each of the companies.

HR personnel are responsible for satisfaction among employees, for this they have to agree on certain policies of giving compensation, appraisals and rewards. Thus, both the companies HR personnel shall involve themselves in developing the skills in employees for resolution of conflict.

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Answer:

The value per bond must be $1000

Explanation:

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The amount recorded = Number of bonds * Current market value

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