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mixas84 [53]
3 years ago
6

The store where you bought new home furnishings offers you two alternative payment plans. The first plan requires a $4,000 immed

iate up-front payment. The second plan requires you to make monthly payments of $137.41, payable at the end of each month for 3 years. What nominal annual interest rate is built into the monthly payment plan?
Business
1 answer:
blondinia [14]3 years ago
8 0

Answer:

The nominal annual interest rate is built into the monthly payment plan is 14.4%

Explanation:

E = P×r×(1 + r)n/((1 + r)n - 1)

where:

E is the EMI

p is the Principal

r is the nominal rate

n is the number of periods

$137.41 = $4,000*r* (1 + r)36/((1 + r)^36 -1)

           r = 14.4% P.A

Therefore, The nominal annual interest rate is built into the monthly payment plan is 14.4%

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Answer:

$3,556

Explanation:

Because the startup expenditure is above $50,000, the startup expenditures which are not deducted may be amortized over a period of 180 months starting from the beginning of trade.

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= $3,556 this is total deduction allowed as startup expenditure.

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Answer:

Explanation:

please find the attached for the full explanation of the answer.

before answering the total current assets that will be recorded by Symphony one needs to understand what a current asset is. A current asset  can be referred to a short term meaning that its span of life is short it can not be longer than 12 months hence current.

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3 years ago
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