Answer:
Explanation:
Monthly interest = 6 / 12 = .005
principal amount a₀ = 30000
an denote the amount owed at the end of the month
amount owed at the end of one month
a₁= 1.005 x a₀ - 600
amount owed at the end of 2 nd month
a₂= 1.005 x a₁ - 600
amount owed at the end of nth month
an = 1.005x an-1 - 600 for n ≥ 1
The rate of interest charged to Glenda would be 5.18% upon the payment of her car in five annual installments.
<h3>What is a rate of interest?</h3>
The percentage of interest charged over the principal amount of loan or advances for a particular period of time, is known as the rate of interest of such loan.
The computation of rate of interest using the formula and given information will be,
Hence, the computation of the rate of interest is as aforementioned.
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Answer:
The amount FVI should record is $ 617,200
Explanation:
The amount FVI should record as the cost of the land includes the initial purchase price ,broker's commission,title insurance ,miscellaneous closing costs as well as the cost of dismantling the old warehouse since all of these costs were incurred to bring the asset acquired to its present condition and location.
land purchase price $540,000
broker's commission $34,000
title insurance $2,400
miscellaneous closing costs $6,800
Cost of demolition $34,000
total costs $617,200
Answer:
The correct answer is option b.
Explanation:
Aggregate demand represents the overall demand of goods and services in the economy in a year. It is comprised of consumption spending, investment, government spending, and net exports.
An increase in the government spending will increase the aggregate demand, so the aggregate demand curve will shift to the left.
A decrease in the stock prices, on the other hand, will cause the aggregate demand to fall, shifting the curve to the left. This happens because decrease in stock prices causes the wealth of the investors to decline. The consumer spending decreases and so does aggregate demand.
