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kupik [55]
2 years ago
14

What is the maturity date of a loan for $4,000 at 15% exact interest taken out on June 7? The amount of interest on the loan was

$120.
Business
1 answer:
Annette [7]2 years ago
6 0

Answer:

The loan is due on August 18th

Explanation:

Simple interest is defined as the amount that is paid on a loan over a period of time. The interest is paid along with the principal in the course of loan tenure.

The formular for simple interest bis given as

Interest= principal* Interest rate* time

We are to calculate the loan duration and it was disbursed on June 7.

120= 4,000* 0.15* time

Time = 120/(4,000*0.15)= 0.2 years

Time = 0.2* 365 days

Time= 73 days

Therefore the loan is due on August 18th

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According to Jack Gibb’s work on supportive and defensive communication, a supervisor who doesn't show any concern for the feelings of others is promoting a disconfirming climate.
3 0
3 years ago
A credit sale is made on July 10 for $900, terms 1/15, n/30. On July 12, the purchaser returns $100 of goods for credit. Give th
balu736 [363]

Answer:

                                      Dr.      Cr.

July 19

Cash                            $792

Discount expense      $8

Account Receivable              $800

Explanation:

The term 1/15, n/30 mean there is a discount of 1% is available on the sales value, if payment is made within 15 days of sale with credit term of 30 days.

The sale of $900 was made on July 10 and discount period is until July 25.

On July 12 goods amounting $100 was returned and now the amount due from the customer is $800 ( $900 - $100 ).

The payment made on July 19 is actually in the discount period and it is eligible for the discount as it is made before July 25.

Discount = Amount due x Discount rate

Discount = $800 x 1% = $8

$792 Cash received against the sale made on July 10 and discount $8 is expensed. Total of $800 is credited from the account receivable account to eliminate it.

5 0
3 years ago
Tighter regulations regarding vaccine production and the resultant lower costs and risks of development of vaccines have contrib
Andreas93 [3]

Answer:

False

Explanation:

The rules and regulations set for vaccine production and it result to lower costs of the does not contribute to shorted of vaccines, rather the tightened regulations helps in the production of more vaccines, at a cheaper or lower prices, and also makes it available for many instead of having shortage in the supply. So it is false.

7 0
3 years ago
Read 2 more answers
When the government transfers resources to the poor in the form of a good or service, it is called?
Airida [17]

When the government transfer resources to the poor in the form of a good or service it is called an in-kind transfer.

Many countries government provide large in-kind transfer resources to the poor in the form of a good or service. These transfers are commonly referred to as government redistribution programs, presumably from the wealthy to the poor.

The term in-kind transfers generally refers to goods, services, and transactions not involving money or not measured in monetary terms are transferred to the needy.

Hence, the in-kind transfers is based on the idea that governments want to target transfers to the needy.

To learn more about in-kind transfer here:

brainly.com/question/20411157

#SPJ4

4 0
1 year ago
g A Mortgage Backed Bond is: Group of answer choices a. A mortgage-backed security that pass-through promised payments of princi
o-na [289]

Answer:

A Mortgage Backed Bond is:

e. A loan in which security interest in real estate is granted by a borrower.

Explanation:

A mortgage backed bond is tied to or secured on a real estate asset.  This implies that the bond is not just a promise to pay a debt obligation but the attached promise is secured or backed by some real assets.  There is extra security provided for the bond because specific assets are identified as securities for the bond.  Since the bonds are associated with some real assets, the assets can be traded in the event that the debt obligations are not met.

4 0
2 years ago
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