Answer: Option C
Explanation: The given question relates to the concept of time value of money which in simple words states that the value of money decreases over time. The value of a dollar today will be less than tomorrow.
Hence if a card holder gets grace period to pay the interest before the interest accrues than it means he actually gets to pay lower interest that he could have paid before.
Hence from the above we can conclude that the correct option is C.
Answer:
total cost of the points is $3600
Explanation:
given data
sales price = $100,000
paying = $10,000
discount points = 2
loan origination fees = 2 point
to find out
total cost of the points
solution
we know here total point is 2 + 2 = 4
and here 1 point is 1 % of loan amount
loan amount is = sale price - paying
loan amount = 100000 - 10000 = $90000
so 1 point is 1% of $90000 = $900
4 point mean 4 × $900 = $3600
so that here for 4 point
total cost of the points is $3600
Answer:
b. the ncaa clearinghouse
please add options
Answer:
The journal entry to record the issuance of new stocks is:
Dr Cash 164,800
Cr Common stock 72,100
Cr Additional paid in capital in excess of par value 92,700
When you issue new stocks, the common stock account increases by par value (= 10,300 stocks x $7). Any money obtained over par value must be recorded under the additional paid in capital account (= 10,300 x $9).
