Answer:
$112,500
Explanation:
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life)
Depreciation expense in year 1 = 2/4 x $450,000 = $225,000
Book value at the beginning of year 2 = $450,000 - $225,000 = $225,000
Depreciation expense in year 2 = 2/4 x $225,000 = $112,500
Answer:
$1,088.12
Explanation:
The formula for calculating monthly repayments is as below.
M= P x <u> r </u>
1 − (1+r)−^n
where p is the loan amount = $220,000
r = 4.3per cent or 0.043 % interest rate per year,
on monthly basis r will be 0.043/12=0.00358%
n = 30 year, which is 30 x 12 months= 360 months
M= $220,000 x <u> 0.00358 </u>
1 - (1+0.00358 ) ^ - 360
M=$220,000 x<u> 0.00358 </u>
1- 0.2762
M = $220,000 x (0.00358 /0.7238)
M = $220,000 x 0.0049461
M = 1,088.12
Monthly payments will be $1,088.12
Answer:
Friendly's would say you were paying <u>1042.86% APR</u>.
Explanation:
Annual percentage rate (APR) can be described as the yearly interest rate that is paid by a borrower to a lender which is expressed in percentage term without taking compounding into consideration.
Annual Percentage Rate (APR) can be determined using the following formula:
APR = {[(Fees + Interest amount) / Principal / n] * 365} * 100 ……………… (1)
Where;
APR = ?
Fees = 0
Interest amount = Amount to repay - Amount to borrow = $12.00 - $10.00 = $2.00
Principal = Amount to borrow = $10.00
n = Number of days in the loan term = One week = 7 days
Substituting the values into equation (1), we have:
APR = {[(0 + 2) / 10 / 7] * 365} * 100
APR = 1042.86%
Therefore, friendly's would say you were paying <u>1042.86% APR</u>.
Answer: The answer is constitutional monarchy
Explanation:
The question is based on constitutional monarchy and practising a parliamentary system of government. A constitutional monarchy is a situation whereby the king is the head of state recognized by the constitution. While the prime minister is the head of government. The prime minister in a parliamentary system of government is a member of parliament elected by his constituency to represent to represent them in the parliament. For example Britain, Belgium,Australia.
The person who assume the position of prime minister is usually the leader of the party who won the majority seat in the parliament. In this government, the executive is also an integral part of the parliament, and before anyone can become a minister under such a government such a person must have won a seat in the parliament also to represent his or her constituency in the parliament. In this system, the king or Queen is the ceremonial head of state.While the prime minister is the real head of government who oversee the day to day affairs of the government. In this system of government, the government seize to exist when a vote of no confidence is passed on such a government on the floor of the house.when this happened, the prime minister must resign and call for new election into the parliament.
