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ludmilkaskok [199]
3 years ago
9

A man uses a loan program for small businesses to obtain a loan to help expand his vending machine business. The man borrows ​$2

6 comma 000 for 4 years with a simple interest rate of 1.4​%. Determine the amount of money the man must repay after 4 years.
Business
1 answer:
seraphim [82]3 years ago
3 0

Answer:

The ammount due at the end of the loan adds for $27,456

Explanation:

If the payment is in full at maturity, the man must pay the principal of 26,000 plus the interest during the period of 4 years.

It is important to notice that the loan is done at simple interest, so the interest does not capitalize.

Ammount$-due = 26,000 * (1 + 0.014 * 4) = 27,456

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joja [24]

Answer: a. Inflation

Explanation:

Inflation refers to the general rise in prices of items in an economy in a certain period of time. Inflation essentially erodes the value of the domestic currency of the economy in question.

Central Banks like the Fed can use Monetary policy to influence inflation. In this case they reduced the amount of money in the economy by reducing bank loans. This will ensure that people cannot spend too much which would increase demand and therefore increase prices.

By doing this, they have limited the likelihood of inflation.

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3 years ago
Auditors may decide to perform some tests of controls or not perform any tests of controls, if inherent risk is assessed as ____
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Explanation:

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6 0
2 years ago
What do consumers and business in the market economy seek to do ?
Ivanshal [37]

Consumers and business in the market economy seek to earn money so they can buy products so that they don't go out of business.

6 0
3 years ago
Read 2 more answers
What is the difference between independent variables and dependent variables in a spreadsheet?
kirill115 [55]
On a spreadsheet there are two types of variables independent and dependent. Independent variables refer to those that can be changed and their value that is changing. A dependent variable is something that remains the same and the value of it does not change. 
6 0
2 years ago
ThingOne Company has the following information available for the past year. They use machine hours to allocate overhead. Actual
frozen [14]

Answer:

the variable overhead efficiency variance is $1,840 unfavorable

Explanation:

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