Since john pays back the amount of $120, then, the interest is known as Simple interest.
The Simple interest is the easiest method of calculating an interest rate on a loan.
- However, the compound interest is entails interest derived on a loan based on initial principal and the accumulated interest over period of time
Hence, since john pays back the amount of $120, then, the interest is known as Simple interest because the interest is not accumulated.
Read more about this here
<em>brainly.com/question/7508525</em>
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Annual depreciation= $197,000
Explanation:
Giving the following information:
Purchasing price= $1,040,000
Residual value= $55,000
Useful life in years= 5
<u>Under the straight-line method, the annual depreciation is the same during the useful life of the machine. To calculate the annual depreciation, we need to use the following formula:</u>
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (1,040,000 - 55,000)/5= $197,000
The swap that should be the cheapest swap for Henry should be to Replace Duque de Caxias with Fortaleza.
- The answer to this question is option B.
<h3>Why Henry has to make this swap.</h3>
The reason why this swap is the best is because visiting Fortaleza is more within the budget that he has.
If he sticks to the original plan, he would be needing more funds for the trip that he intends to make.
Read more on Henry's trip here:
brainly.com/question/3804099?referrer=searchResults
Answer:
b. Debit Petty cash $200 and credit cash $200
Explanation:
Based on the information given we were told that the Company decided to establish petty cash fund that has a beginning balance of the amount of $200 which means that journal entry to record establishing the account will be:
Dr Petty cash $200
Cr Cash $200
