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Lapatulllka [165]
3 years ago
5

The simple annual interest rate on a loan is 5%. what is the interest due on a loan of $3,500 after one year

Business
2 answers:
Ganezh [65]3 years ago
4 0

The simple annual interest formula shows the interest charged on a loan.

To solve follow the formula - I = Prt

P is the principle, r is the annual interest in decimal form and t is the loan period.

I = ?

P principle = 3500

R interest rate = 0.05

T time 1 year

I=3,500×0.05×1

I=175

The answer is $175, so the amount of interest charged on the loan in one year is $175.

zlopas [31]3 years ago
3 0
The formula is
I=prt
I interest due ?
P principle 3500
R interest rate 0.05
T time 1 year
I=3,500×0.05×1
I=175
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Revenues                 $7,430,000        $6,184,000    $13,614,000

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Operating expenses  1,465,000          1,546,000        3,011,000

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Tech Support               322,500             193,500          516,000

Purchasing                      31,360               58,240           89,600

Other corporate administrative expenses                  560,000

Total expenses       $1,818,860          $1,797,740     $4,176,600

Net income (loss)    $1,488,140         $1,261,260     $2,189,400

Explanation:

a) Data and Calculations:

Corporate expenses for the year ended December 31, 20Y7:

Tech Support Department                         $516,000  Number of computers

Purchasing Department                                 89,600  Number of POs

Other corporate administrative expenses 560,000

Total corporate expense                         $1,165,600

Usage of Service:

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Commercial Division 225                       3,640

Total                           600 computers    5,600 purchase order

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Purchase = $16 per purchase order ($89,600/5,600)

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Consumer Division           $322,500        $31,360        353,860

                                       (375 * $860)     (1,960 * $16)

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Total                                   $516,000      $89,600      $605,600

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