PLEASE HELP! this is due today!
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The amount of the loss exists 1350.
<h3>What is the amount of loss?</h3>
Amount of Loss means an amount equivalent to the outstanding balance of the principal amount, less any amounts recognized by perfecting rights under a security agreement, together with such interest as the executive director shall permit, to a maximum of such interest as may be permitted by rule.
Given: Mr. Black purchased a television set for $450.00. He subsequently sold the television set at a defeat of 30%.
From the given information, we get
simplifying, we get
= 1350
Therefore, the amount of the loss exists 1350.
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