Answer:
Step-by-step explanation:
Sales revenue x (100%+sales tax rate) = total sales including tax
sales revenue x 1.085 (100% + 8.5%) = 78120
sales revenue = 78120/1.085
sales revenue = 72000
total sales including tax - sales revenue = sales tax
78120 = 72000 = 6120
Journal entry:
cash. 78120
Sales revenue. 72000
Sales tax payable. 6120
I believe the answer is 24 : 1
Assuming the loan is as described, seven-year loan, which means that Kyle does not repay a cent before seven years.
This is a compound interest problem where n=7 years, interest rate i=0.05, and present value P=8000.
At the end of seven years, Kyle will have to pay
Future value = F = P(1+i)^n = 8000(1.05)^7 = 11256.80 (to the nearest cent)
Step-by-step explanation:
the union of two sets is a new sets that contains all of the elements that are in at least one or two sets and written as (A U B)
while intersection of two sets is a new set that contains all of the elements in both sets and written as (A n B)