Formula for the monthly payment:
M = P * r * ( 1 + r )^n / (( 1 + r )^n + 1 )
where: P = $100,000 r = 0.12 : 12 = 0.01 n =12 * 5 = 60
M = 100,000 * 0.01 * ( 1 + 0.01 )^60 / (( 1 + 0.01 )^60 + 1 ) =
= 1,000 * ( 1.01 )^60 / (( 1.01 )^60 + 1 ) =
= 1,000 * 1.8167 / 0.8167 = 1,000 * 2.22444 =
= $2,224.44
The monthly payment is $2,224.44.
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As a licensed foster mom, the answer is F. All of above
Answer:
False
Explanation:
In simple words, Severance pay can be understood as a salary and/or incentives given to an individual by a company after the job is over. In order to help an individual obtain a new job, severance arrangements can include additional rewards, such as life care and observer ship support.
Thus, the weekly benefits are not included in this and the above statement is incorrect.
Answer:
B. July
Explanation:
The principle of revenue recognition arises whenever the income is realized or earned whether cash is collected or not and it also supports the accounting accrual basis. Realizable here means that the customer obtains the product however the payment is made afterward.
So, in the given case, the service is provided in the July month and the same is to be recorded on the July month
