Answer:
$594.57
Explanation:
For computing the monthly payment we need to apply the PMT formula i.e to be shown in the attachment below:
Given that,
Present value = $31,000
Future value or Face value = 0
Rate = 5.67% ÷ 12 months = 0.4725
NPER = 5 years × 12 = 60 years
The formula is shown below:
= PMT(RATE;NPER;-PV;FV;type)
The present value come in negative
So, after applying the formula, the monthly payment is $594.57
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Answer and Explanation:
The journal entry is shown below
Cash $46,620
To Notes Receivable $44,400
To Interest receivable ($44,400 × 15% × 120 days ÷ 360 days)
(Being the cash received is recorded)
Here we debited the cash as it increased the assets and at the same time we credited the interest receivable and the note receivable as it decreased the assets
The same is to be considered
Answer:
<h2>An expansionary monetary policy by the Federal Reserve would lead to an <u>increase </u> in the demand for US assets and a <u>depreciation</u> in the value of US dollars.Hence the correct answer is option D) or increase;depreciate.</h2>
Explanation:
An expansionary monetary policy commonly entails expansion of money supply thereby reducing the eventual interest rate in order to boost or stabilize the Aggregate Demand(AD) and overall output level or GDP in the economy.Now,as the domestic interest would fall in US due to the expansionary speculations and inflationary indications(increase in money supply),it would consequently lower the value of the US dollars relative to other foreign currencies.This implies that US dollar would depreciate compared to other foreign currencies.This possibility would encourage the importers and international investor or financiers to become more attracted towards the US goods,services and financial assets thereby increasing their demands.Therefore,a depreciation of US dollars would essentially lead to an increase in the demand for US assets in the international market as depreciation of US dollars would also lower the value of US assets in the international market.
