1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
wolverine [178]
3 years ago
6

"K has a $10,000 traditional whole life policy with a loan outstanding" of $1,000 and a 5% interest charge. At the end of the fi

rst year of the loan, K did not pay the loan interest. What is the result of K's inaction?
Business
1 answer:
lyudmila [28]3 years ago
8 0

Answer:

The result of K's inaction causes an increase in the outstanding loan by $50

Explanation:

<em>Step 1: Determine the interest amount</em>

The interest amount can be determined as follows;

I=PRT

where;

I=interest amount

P=principal amount

R=annual interest rate

T=time

In our case;

I=unknown

P=$1,000

R=5%=5/100=0.05

T=1 year

replacing;

I=1,000×0.05×1=$50

<em>Step 2: Determine the total loan amount</em>

This can be expressed as;

A=P+I

where;

A=total loan amount

P=principal amount

I=interest amount

In our case;

A=unknown

P=$1,000

I=$50

replacing;

A=1,000+50=1,050

The loan amount due after a year=$1,050

The result of K's inaction causes an increase in the outstanding loan by $50

You might be interested in
On january​ 1, 2017​ hillop, inc. had total assets of​ $370,000. during the​ year, the company purchased new machinery worth​ $8
makvit [3.9K]
<span>asset turnover ratio is the ratio of the value of a company's sales or revenues generated relative to the value of its assets. The Asset Turnover ratio can often be used as an indicator of the efficiency with which a company is deploying its assets in generating revenue. Given that the sales is 60k and the value of the asset is 370k, the ratio is simply the sales / value of assets which is 60/(370-88).</span>
5 0
3 years ago
What are the basic need-to-know things about wound care nursing?
Oksanka [162]
You need to put in love
8 0
3 years ago
1. Do you think it's really important to start saving for retirement as early as possible? Why or
Colt1911 [192]
Yes, I think it is important to save for retirement as early as 18 years old. I think this so that if anything goes wrong you can have kind of like a safety net.
6 0
3 years ago
Would the outcome have been different if the roles of board chairman and CEO in BP had been combined, as in many large American
hram777 [196]

\huge \text{Answer:}

In many companies, the chief executive officer (CEO), who holds the top management position in the company, also serves as chairman of the board. This is often the case with companies that have grown rapidly and still retain the initial founder in those roles.

8 0
2 years ago
Miramar Industries manufactures two products, A and B. The manufacturing operation involves three overhead activities - producti
PolarNik [594]

Answer:

General overhead= $3.81 per direct labor hour

Explanation:

Given the following information:

General Overhead $80,000 Number of direct labor hours

Number of direct labor hours 9,000 12,000= 21,000

<u>To calculate the activity rate, we need to use the following formula:</u>

Activity rate= estimated costs / total amount of allocation rate

General Overhead= 80,000 / 21,000

General overhead= $3.81 per direct labor hour

8 0
2 years ago
Other questions:
  • The first step in the ted five-step protocol for effective presentations is
    10·1 answer
  • Troy, who is 18, offers to sell Jenna, who is also 18, his car for $5,000. Jenna accepts Troy's offer, but only agrees to pay $4
    10·1 answer
  • Technician a says that riveted linings are more common on light-duty vehicles since they are less expensive to build and the riv
    5·1 answer
  • The company purchases land for $24,000 by paying cash $6,000 and taking a 10-year mortgage for $18,000 (assume zero interest rat
    11·1 answer
  • Missouri Company has a current production capacity level of 200,000 units per month. At this level of production, variable costs
    13·1 answer
  • Billie Bob purchased a used camera (five-year property) for use in his sole proprietorship in the prior year. The basis of the c
    13·1 answer
  • Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system wi
    6·1 answer
  • Explain<br> What an<br> organization High- uncertainty is
    14·1 answer
  • 32. Peter must decide if he should add one more dog to his dog-walking business. What is this decision an
    8·1 answer
  • Assess the trade-offs that investors face when making investment decisions, and provide one example of such a trade-off.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!