Answer:
Simple interest= $273.7
Explanation:
<em>Simple interest is the interest on earned on the principal amount invested only. Kindly note that under this system, only the principal amount invested would earn interest over the course of the investment period</em>
<em> Simple interest is calculated as follows:</em>
Simple interest = Principal × Rate × Time
or
Simple interest = Future sum - Principal amount invested
DATA
Future sum- $973.70
Principal amount invested-700
Simple interest = 973.70 - 700=273.7
Simple interest= $273.7
Answer:
Inflation occurs when prices rise across the economy, decreasing the purchasing power of your money.
Explanation:
Can I please get on the brainlist
Answer:
(n^2 + n)/2 ways
Explanation:
Each time you can climb 1 or 2 steps to the top (n steps)
Number of ways climbing 1 step to the top = n combination 1 = n!/(n-1)1! = n(n-1)!/(n-1)! = n
Number of ways climbing 2 steps to the top = n combination 2 = n!/(n-2)!2! = n(n-1)(n-2)!/2(n-2)! = (n^2 - n)/2
Total number of ways = n + (n^2 - n)/2 = (2n + n^2 - n)/2 = (n^2 + n)/2 ways
Answer:
Required 1
<u>January 1</u>
Cash $340,000 (debit)
Note Payable $340,000 (credit)
Required 2
$27,200 goes toward interest expense.
Explanation:
<u>Issuance of the Note :</u>
Assets of Cash are increasing, the Liabilities are also increasing.
<u>Payment at December 31 :</u>
The Annual Payment comprises of Capital Repayment and Interest Expense.
Prepare an amortization schedule using the details of the Note highlighted below to separate the Capital Repayment and Interest Expense Component :
PV = $340,000
PMT = - $85,155
N = 5
i = 8%
P/yr = 1
FV = $0
Note Schedule is attached !
