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ale4655 [162]
3 years ago
13

John was given a choice of loans of $8,000 with the following characteristics: a) $1,200 in interest paid at the end of the peri

od b) $1,200 in interest paid at the beginning of the period c) $1,200 paid equally over the period with part of the principal retired each month Calculate the interest rate paid. In part (3) calculate using both the approximate method and the actual cost method assuming a one-year loan retired in 12 equal monthly installments of interest and principal.
Business
1 answer:
Natalija [7]3 years ago
5 0

Answer:

According to each choice, this is the result: a) 15% annual interest rate b) 35,29% annual interest rate and c) 26,62% annual interest rate.

Explanation:

In choice a) you receive 8.000 but paid 9.200 (8.000 capital + 1.200 interest). In choice b) Even though the loan has the same value, you receive 6.800 (8.000 capital -1.200 interest) and you have to pay 9.200 (8.000 capital + 1.200 interest). In choice c) You receive 8.000 but monthly you have to pay $766,67 of instalments for 1 year. So you will pay 9.200 in total at the end (8.000 capital + 1.200 interest) but early payments than choice a) and in finance money is value in time towards the reform and respect of the inmate population.

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The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called
Helen [10]

Answer:

Depletion

Explanation:

The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called Depletion

3 0
3 years ago
Austin and kayla have $35,000 in debt (student loan, credit cards, car loan) but have cut up all of their credit cards and start
Klio2033 [76]

The answer is a definite NO. No one should EVER cash in their 401(k) to pay off debt. You will never be able to recover from the loss of compounding interest if you take out money from your retirement account. This money should be saved for retirement or EXTREME emergencies.

Im this case, Austin should take the amount of his raise and use that to start paying down his debt FASTER.

6 0
3 years ago
On July 1, 20X1, James and Short formed a partnership. James contributed cash. Short, previously a sole proprietor, contributed
Brrunno [24]

Answer:

James and Short LLC

Short's capital account on July 1, 20X1 should be recorded at the fair value of contributed property minus the mortgage liability, which the partnership assumed.

Explanation:

The fair value of contributed property is the current market value of the contributed property by Short.  It is the market value that will determine how the contributed property can be valued.  The market value assumes that the contributed property is being sold in pieces and not as a whole.  This is why the value is considered a fair basis for recognizing the capital contribution of Short into the partnership.

3 0
3 years ago
Product, price, promotion, and place make up the __________.
vivado [14]

Answer:

d. Marketing Mix

Explanation:

<em>Target Market</em> is the group of people with specific problem and seeking a solution and ready to spend on it.

<em>Market Segment </em>is dividing a market into sub sets of consumers, businesses or countries who have common needs.

<em>Market Position </em>is organizing for a product by clear minds of target customer relative to competing products.

<em>Marketing Mix </em>is the combination of four P's: Product, Price, Promotion and Place.

8 0
3 years ago
"Global Marketing refers to: Group of answer choices The evolution of Marketing as being more than the offering of a product. Th
geniusboy [140]

Answer:

Global Marketing refers to the processes by which goods,services,capital,people,information,and ideas flow across national borders.

Explanation:

We operate in a world called global village,where time and location do not really impact doing businesses anymore, as people from different countries that are far apart, can do business without the need to physically meet, using different channels of communication made possible by advancement in technology.

Organizations,as the need to for businesses to sell its produce to a larger number of customers increases, are constantly considering selling to customers who are based in other countries through global marketing techniques.

5 0
3 years ago
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