1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?
The chart probably refers to interest per $100 of loan. So, the interest for a $1,230 loan would be (1230/100) * 18.75 = 230.625 ~ 230.63
So, the answer will be B $230.63.
2. Sherri borrowed $3,200 at 13 percent APR for 18 months. If she must pay 19.5 per $100, what is the total interest?
3,200 / 100 = 32 ... x 19.5 = 624
Principal x int rate x time = 3200 x .13 x 1.5 yr = 624 interest
So, the answer will be the A $624.
3. What is the total amount that Sherri (in question number 2) will repay?
The correct answer will be the $3,824.
Owners equity is $82365 - $70500 which gives $11365. Therefore when you add $70500 + $11365, this would give $82365.
Answer:
Explanation:
The journal entry is shown below:
Bonds payable A/c Dr $640,000
Premium on bonds payable A/c Dr $23,970
Loss on bonds redemption A/c $8,030
To Cash A/c $672,000 ($640,000 × 1.05)
(Being the redemption of bond is recorded and the remaining balance is debited to the Loss on bonds redemption account)
The Premium on bonds payable is computed below:
= Carrying value of the bonds - face value of the bond
= $663,970 - $640,000
= $23,970
Answer:
Tell the customer when you store’s next delivery day is and to come back then Issue the customer a raincheck for the item that is out of stock
Explanation:
Customer<em> retention</em> is important as well as <em>meeting their specific needs</em>. It is unwise to turn back a customer and refer them to a competitor, this may mean loss of business (currently and in the future). Also it is unwise to offer a substitute item as this will not meet their needs (though you may want to inform them of the substitute item if they are interested). Issue the customer a raincheck for the item that is out of stock is the best way to go and keep the business.
Answer:
Gross profit per jet = Selling price - Production cost per jet
Gross profit per jet = $45 million - $40 million
Gross profit per jet = $5 million
Gross profit = $5 million x 20 jets
Gross profit = $100 million
Explanation:
Gross profit = Sales - Production cost. In this case, we need to calculate gross profit per unit and multiply the gross profit per unit by number of jets sold.
