Answer:
Tom Busby
His annual payment will be:
= $4,091.64
Explanation:
a) Data:
Loan = $20,000
Interest on loan for 4 years = 8% per annum
Amount of loan after 4 years = $27,200 ($20,000 * 1.360)
Payment period = 12 years
Interest rate during payment period = 11%
b) From online finance calculator:
You will need to pay $4,091 every year for 12 years to payoff the debt at 11% interest.
Monthly Payment $340.97
Annual Payment $4,091.64
Time Required to Clear Debt 12.00 years
Total of 144 or 12 Payments = $49,099.25
Total Interest $21,899.25
First, you have to do $3000 times .07 (decimal form of 7%). That equals Assuming that the interest is 7% <em>each month,</em> your interest would be $210 a month. Then you would times that by 6 months. That would be $1260.
Answer:
If the hospital underestimated its bad debt, that means that they are overestimating their profits. The cash flow is determined using the income statement, so it will also be overestimated. But at some point reality will catch up and the actual cash flow will be less than expected, since bad debts reduce actual revenue.
Answer:
The correct answer to the following question will be "Consolidation".
Explanation:
- Obligation restructuring is an investment strategy, merging bills into some kind of single debt paid out by a lender via a management plan. Debt consolidation is particularly effective in heavy-interest debt, such as credit card payments.
- Debt restructuring is a form of financial refinancing that involves taking out a loan to cover off so many others.
- This is usually referred to as a personal finance mechanism for people working in high mortgage debt, but sometimes it could also refer to a monetary solution of the country to the restructuring of corporate bonds or government borrowing.
Therefore, Consolidation is the right answer.
