<span>Sales revenue on January 1, 2016 would be recorded as $515,000 becasue if the amount if paid today that is the amount that would be received. For every day that follows sales revenue would be calculated by the following equation (515,000+(.08*515,000/365)</span>
Answer:
$22,500
Explanation:
Data given in the question
Purchase value of the patent = $175,000
Legal fees = $5,000
The Remaining life of the patent = 13 years
Expected using life of the patent = 8 years
So by considering the above information, the annual amortization expense for 2019 is
= (Purchase value of the patent + Legal fees incurred) ÷ (Expected using life of the patent)
= ($175,000 + $5,000) ÷ (8 years)
= $22,500
<u>Given:</u>
Amount borrowed = $1700
Interest = $85
Service charge = $17
<u>To find:</u>
Annual Percentage Rate
<u>Solution:</u>
If the $17 service charge was added to the loan (if Joshua didn't pay the service charge up front), he/she borrowed $1717 and paid $85 as interest for a total of 1802.
But if Joshua indeed paid the $17 up front, then the Annual Percentage Rate will be as follows,
An annual percentage rate (APR) is the annual rate charged for borrowing or earned through an investment.
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