Answer:
$3,310.20
Explanation:
The applicable formula in this case is
A = P x ( 1 + r )^ n
Where A= amount after 20 years
P is principle amount= $1000
r is interest rate = 6 % or 0.06 per year: monthly interest = 0.06/12
n is number of periods = 12 months x 20 years
A = $1000 x ( 1 + 0.005) ^240
A = $1000x (1.005) ^ 240
A =$1000 x 3.31020447580
A =$3,310.2044
Answer:
1. Debit Interest Expense $7,000; debit Notes Payable $7,238; credit Cash $14,238.
Explanation:
The journal entry is shown below:
Note payable A/c Dr $7,238
Interest expense A/c Dr $7,000
To Cash A/c $14,238
(Being the first payment on the note is recorded)
The computation of the interest expense is shown below:
= Borrowed amount × rate of interest
= $100,000 × 7%
= $7,000
And, the remaining balance left is reported in the note payable account
The U.S. Supreme Court determine that the federal government did not overstep its bounds under the commerce clause when it enacted the Controlled Substances Act of 1970- Gonzalez v. Raich Case
Explanation:
<u>Gonzales v. Raich</u> was a case in which Raich was permitted to grow and use Marijuana for medical purposes but the federal agents seized the marijuana plantation and destroyed it.
<u>Raich then seeked action under the federal Comprehensive Drug Abuse Prevention and Control Act (CFA).
In the decision taken by the U.S Supreme court under the commerce clause of the US Constitution,that the congress has the power to criminalize the use and production of home-grown marijuana even if state law allows its use for medicinal purposes.</u>
Aggregate demand will REMAIN THE SAME. Aggregate demand refers to the total demand for goods and services within a particular market in an economy. Social security, medicare and welfare programs are examples of government transfer payments; transfer payments are not meant to be purchased, therefore they have no influence whatsoever on aggregate demand.
Answer:
B. It can help create jobs in the economy by increasing demand for goods and services
Explanation:
