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Gennadij [26K]
3 years ago
6

IT plays a major role in ensuring the accuracy of financial data. T/F

Business
1 answer:
marysya [2.9K]3 years ago
8 0

Answer: True

Explanation:

 Yes, the given statement is true that the IT (information technology) plays an important role for ensuring the financial data accuracy. When settling on business choices, precise money related information is basic.

Large associations commonly have separate department of accounting in the office to do the various function of the accounting , just as accommodate all records, survey the information for exactness, and analysis the information.

It provide the essential data and information and in SEC ( Security and exchange commission) are basically responsible for providing the data and information to the different organization.  

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The payment option that pays the LEAST is <u>B. B. 10% APR, with 12 monthly payments,</u> as it pays back a total of $1,008.33, for borrowing $1,000.

<h3>How to calculate payment options:</h3>

Payment options can be computed using an online finance calculator as follows:

The option that pays the least total cost should be chosen.

<h3>Data and Calculations:</h3>

Loan payment = $1,000

A. 8% APR, no payments for the first 6 months, then 6 monthly payments:

Amount after 6 months = $1,040 ($1,000 + $1,000 x 0.08 x 1/2)

N (# of periods) = 1

I/Y (Interest per year) = 8%

PV (Present Value) = $1,040

FV (Future Value) = $0

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PMT = $174.49

Sum of all periodic payments = $1,046.93 ($174.49 x 6)

Total Interest =$46.93 ($40 + $6.93)

B. 10% APR, with 12 monthly payments:

N (# of periods) = 1

I/Y (Interest per year) = 10%

PV (Present Value) = $1,000

FV (Future Value) = $0

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PMT = $84.03

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Total Interest = $8.33

C. 12% APR, with 6 monthly payments:

N (# of periods) = 1

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FV (Future Value) = $0

<u>Results:</u>

PMT = $168.33

Sum of all periodic payments = $1,010.00

Total Interest $10.00

Thus, the payment option that pays the LEAST is <u>Option B</u>.

Learn more about periodic payments at brainly.com/question/24244579

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To calculate the cost of goods sold we need to use the following formula:

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