Answer:
910.18
Explanation:
After Chin's down payment the amount borrowed is ...
(1 - 20%)($180,000) = 0.80·$180,000 = $144,000
The amount of the payment is given by the amortization formula ...
A = P(r/n)/(1 -(1 +r/n)^(-nt))
for P borrowed at rate r for t years, compounded n times per year.
A = 144000(0.065/12)/(1 -(1 +.065/12)^(-12·30)) = 910.18
The monthly loan payments will be 910.18.
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hope this helps <3
Answer:
Explanation:
The journal entries are shown below:
a. Short term notes receivable A/c Dr $5,300
To Service revenue A/c $5,300
(Being the service is provided based on the notes receivable)
b. Short term notes receivable A/c Dr $9,300
To Cash A/c $9,300
(Being cash is paid)
c. Short term notes receivable A/c Dr $4,300
To Account receivable A/c $4,300
(Being 3-month note receivable is accepted which is signed by the customer)
Answer:
D. $0.7572–$0.7641
Explanation:
The forward BID rate is the rate at which the buyer is willing to buy or perform a transaction while the ASK rate is at which the seller is willing to sell at.
They are calculated by Adding or Subtracting the Basis Point(BPS).
Here BPS = 0.12% AND 0.16%.
Forward bid rate =$0.7560 + 0.0012 = $0.7572
Forward ask rate= $0.7625 +0.0016 = $0.7641.
