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anastassius [24]
3 years ago
9

On December 1, Year 4, Tigg Mortgage Co. gave Pod Corp. a $200,000, 12% loan. Pod received proceeds of $194,000 after the deduct

ion of a $6,000 nonrefundable loan origination fee. Principal and interest are due in 60 monthly installments of $4,450, beginning January 1, Year 5. The repayments yield an effective interest rate of 12% at a present value of $200,000 and 13.4% at a present value of $194,000. What amount of accrued interest receivable should Tigg include in its December 31, Year 4, balance sheet?
Business
1 answer:
Charra [1.4K]3 years ago
4 0

Answer:

The accrued interest receivable is $2000

Explanation:

Accrued interest receivable refers to interest earned by a company but has not received in cash. This happens when the cash to be paid as interest falls outside an accounting period. Accrued interest receivable is an asset account on the investor's books and a current liability on the issuer's books.

Since the accrued interest is to be between December 1 and December 31, the time period is 1 month = 1/12 years.

loan percent = 12% = 0.12

loan amount = $200000

The accrued interest receivable = Time period × loan percent × loan amount = (1/12) × 0.12 × 200000 = $2000

The accrued interest receivable is $2000

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In studying problem solving behavior in kittens, Thorndike used which term to describe behaviors they displayed to escape an enc
Alexus [3.1K]

Answer:

The answer is Instrumental behavior. It is an action performed to reach a goal, such as to obtain a food item, achieve some other kind of reward, or remove a punishment; the behavior causes the desired outcome. Problem-solving is a subset of instrumental behavior, invoked when a direct action (such as reaching for an object) cannot achieve the goal and an indirect approach must be used (such as opening a container to get the object). To paraphrase Thorndike, a problem exists when the goal that is sought is not directly attainable by the performance of a simple act available in the animal's repertoire.

Explanation:

6 0
3 years ago
Real per capita GDP in Singapore in 1960 was about $450, but it doubled to about $900.00 by 1977. a. What was the average annual
aleksandrvk [35]

Answer:

4.16%

Explanation:

to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):

future value = present value x (1 + r) ⁿ

  • future value = 900
  • present value = 450
  • n = 17
  • r = ?

900 = 450 (1 + r)¹⁷

(1 + r)¹⁷ = 900 / 450 = 2

1 + r = ¹⁷√2 = 1.0416

r = 1.0416 - 1 = 0.0416 or 4.16%

6 0
3 years ago
The Crash Davis Driving School has an ROE of 13.3 percent and a payout ratio of 32 percent. What is its sustainable growth rate?
erastovalidia [21]

Answer:

9.94%(Approx).

Explanation:

Retention ratio=1- payout ratio

=1-0.32

=0.68

Sustainable growth rate=(ROE*Retention ratio)/[1-(ROE*Retention ratio)]

=(0.133*0.68)/[1-(0.133*0.68)]

=0.09044/0.90956

=9.94%(Approx).

7 0
3 years ago
The annual interest earned on an amount deposited into a bank account will be the same each year when compound interest is used.
max2010maxim [7]
False. A good way to think of this is that you are reinvesting your interest.
5 0
3 years ago
In an economy in which the skills, preferences, and motivations of workers vary widely, equality of wage rates would
____ [38]

Considering the situation described above, the equality of wage rates would be <u>lower</u>.

This is because when there are high differences in the level of skills, preferences, and motivations of workers, some workers with high skills, and skills preference and increased motivation will earn higher wages.

On the other hand, the workers with low skills, less preferred by employers, and have less motivation to work, will undoubtedly earn lower wages.

This situation would lead to the equality of wage rates to be lower, as many people earn higher, while many others make lower.

Hence, in this case, it is concluded that massive disparity in skills, preference, and motivations cause lower equality in wage rates.

Learn more here: brainly.com/question/18691665

7 0
3 years ago
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