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ki77a [65]
3 years ago
13

"A borrower obtained a $10,000 term loan with 6 1/2% interest paid yearly. A $1,000 principal reduction was to be paid with each

yearly installment. What would be the amount of the principal and interest payment for the second year?
Business
1 answer:
aleksley [76]3 years ago
6 0

Answer:

$1585

Explanation:

Interest for the first year = 6.5% of principal due at the beginning of the year

= 6.5% of $10,000

= $ 650

Principal repayment at the end of the year = $1000

Principal due at the beginning of the second year = $10,000 - $1000= $9000

Interest payable at the end of the second year = 6.5% of principal outstanding at the beginning of the second year = 6.5% of 9000

                                                                            = $ 585

Principal repayment at the end of the second year = $1000

Hence total payment at the end of the second year = $1000 + $585= $1585

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_____ power derives from a position of authority inside the organization and is sometimes referred to as formal authority.
julsineya [31]
The appropriate response is legitimate power. Legitimate power will be the power you get from your formal position or office held in the association's progressive system of an expert. For instance, the leader of a company has certain forces in view of the workplace he holds in the enterprise.
5 0
3 years ago
Nick has a comprehensive health care policy with a $250 per-calendar-year deductible, an 80% co-insurance provision, and a $1,00
VikaD [51]

Answer:

Nick  pay maximum $930

so correct option is d. $930

Explanation:

given data

health care policy = $250

co-insurance provision = 80 %

it mean claim to be paid by insurance company = 80%

and claim to be paid by Nick =  20 %

co payment cap = $1,000

claim insurance = $600

company paid  = $280

total bills = $5,000

to find out

How much will Nick have to pay for the second claim

solution

we get first amount to be paid by insurance company and nick  is

amount to be paid by insurance company and nick  = $600 - $250

amount to be paid by insurance company and nick = $350

and

we know here 80% of $350  paid by insurance company

so paid by insurance company  = 80% of $350 = $280

and  paid by Nick = $350 - $280 = $70

so Limit available to co payment = $1000 - $70

Limit available to co payment = $930

so Nick  pay maximum $930

so correct option is d. $930

5 0
3 years ago
George's Chemicals allocates overhead based on machine hours. Selected data for the most recent year follow. Estimated manufactu
ale4655 [162]

Answer:

$256,284

Explanation:

The computation is shown below:

First, Calculate the predetermined overhead rate per hour which equals to

=  (Estimated manufacturing Overhead cost ÷ estimated machine hours)  

= ($235,900 ÷ 20,800 hours)

= $11.34 per hour

So, the applied overhead or manufacturing overhead allocated equals to

=  Predetermined overhead rate per hour × actual machine hours

= $11.34 per hour × 22,600 hours

= $256,284

4 0
3 years ago
Helmert Federal, a financial institution, acquires its funds primarily from the deposits of its customers, and then uses these f
Viefleur [7K]

Answer:

Savings and loan association

Explanation:

Since, Helmert Federal, acquires its funds primarily from the deposits of its customers, and then uses these funds to make mortgage loans for individuals interested in purchasing real estate properties.Therefore we can say that

Helmert Federal is a Savings and loan association

8 0
2 years ago
Opportunity cost is: * a. about half of the monetary cost of a product. b. the dollar payment for a product. c. the benefit deri
umka2103 [35]

Answer:

C. the benefit drived from the product

Explanation:

6 0
2 years ago
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