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worty [1.4K]
3 years ago
9

Billingsley, inc. is borrowing $60,000 for five years at an apr of 8 percent. the principal is to be repaid in equal annual paym

ents over the life of the loan with interest paid annually. payments will be made at the end of each year. what is the total payment due for year 3 of this loan?
Business
1 answer:
alexandr1967 [171]3 years ago
6 0
60,000 / 0.8 % = 75,000 loans
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Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted
SashulF [63]

Answer:

$4,083

Explanation:

Preparation of the Adjusted Cash Balance per Books on May 31

Adjusted Cash Balance per Books on May 31

Cash Balance per Books on May 31 $3,457

Add Notes Receivable and Interest Collected by Bank $853

Less Bank Charge for Check Printing ($47)

Less NSF Check ($180)

Adjusted Cash Balance per Books on May 31 $4,083

Therefore the Adjusted Cash Balance per Books on May 31 will be $4,083

6 0
3 years ago
Which of the following statements is true if a​ bond's stated interest rate is higher than the market​ rate?
Feliz [49]

Answer: The bond will be issued at a premium

Explanation: If the interest rate on bond is higher than the market interest rate then the investors of such bond will get a greater benefit. Hence to get the greater benefit an investor must pay a higher value, thus, the bond will be issued at premium.

Higher interest rate means the company will pay interest to investors mare than i the general rate in market, Therefore, company can charge investors more from a more valuable asset.

Hence from the above we can conclude that the correct option is c.

5 0
3 years ago
Kickstarter is known as a(n) ___ website because it allows the general public to provide financial support to organizations and
Rufina [12.5K]

Answer: crowdfunding

Explanation:

Crowdfunding is when a project is being funded by collecting little amounts of money from the people, usually through Internet.

Kickstarter is known as a crowdfunding website because it allows the general public to provide financial support to organizations and individuals that are working on a new product.

7 0
3 years ago
During February, $75,150 was paid to creditors on account, and purchases on account were $96,190. Assuming the February 28 balan
lidiya [134]

Answer:

$45,000

Explanation:

Given the above information, the account balance on February 1 is computed below;

Balance of account payable Feb 28 + Cash paid to creditors in February - Purchases on account

= $59,900 + $186,500 - $201,400

= $45,000

Therefore, the account balance on February 1 is $45,000

5 0
2 years ago
A real estate agent is considering changing her land line phone plan. There are three plans to choose from, all of which involve
Yakvenalex [24]

Answer:

PLAN A:

(120 * 0.39) + (40 * 0.19) + 20 = $74.40

PLAN B:

(120 * 0.49) + (40 * 0.14) + 20 = $84.40

PLAN C:

$20 + $75 = $95 ;

PLAN A is optimal from 0 to 192 minutes

PLAN C is optimal from 192 minutes onward ;

Explanation:

PLAN A :

Service charge = $20

Daytime = $0.39 per minute

Evening = $0.19 per minute

PLAN B :

Service charge = $20

Daytime = $0.49 per minute

Evening = $0.14 per minute

PLAN C :

Service charge = $20

225 minutes = $75

Minutes beyond 225 = $0.36 per minute

A.)

Determine the total charge under each plan for this case: 120 minutes of day calls and 40 minutes of evening calls in a month.

PLAN A:

(120 * 0.39) + (40 * 0.19) + 20 = $74.40

PLAN B:

(120 * 0.49) + (40 * 0.14) + 20 = $84.40

PLAN C:

$20 + $75 = $95

b. If the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal?

PLAN A:

20 + 0.39D = 95

0.39D = 95 - 20

D = 75 / 0.39

D = 192.31

5 0
3 years ago
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