Answer:
the interest payable is $210,000
Explanation:
The computation of the interest payable is shown below:
= Principal payments × rate of interest × no of months ÷ total no of months × time period
= $350,000 × 6% × 6 months ÷ 12 month × 20years
= $210,000
hence, the interest payable is $210,000
The same should be considered and relevant
This is a False Statement.
Generally Accepted Accounting Principles (GAAP) need not be followed by managerial accountants when preparing management reports.
Specifically, management accounting aims to
- provide Information for internal Organisation managers
- providing details to governmental regulating bodies
- Information for shareholders, the accounts payable department, and other parties outside the company
- information to shareholders, accounts payables, and other parties outside the company, as well as information to management inside the firm.
To Learn more about Management Accounting, Click the links.
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Answer:
$3,529.51
Explanation:
Future value = $120,000
N = 18
i = 7%
Future value = Annual savings * [(1 + Interest rate)^Years - 1] / Interest rate
Future value = Annual savings * [(1 + 0.07)^18 - 1 / 0.07]
Annual savings = $120,000 / [(1 + 0.07)^18 - 1 / 0.07]
Annual savings = $120,000 / 2.37993227573 / 0.07
Annual savings = $120,000 / 33.99903251042857
Annual savings = $3529.512199007199
Annual savings = $3,529.51
Therefore, the annual savings is $3,529.51
Your awnser is B because if you take a loan you have to pay it back which means you didn’t earn anything more than what you already had