Use the formula of the present value of an annuity ordinary to find the monthly payment
The formula is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 14000
PMT monthly payment?
R interest rate 0.07
K compounded monthly 12
N time 4years
Solve the formula for PMT
PMT=pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
PMT=14,000÷((1−(1+0.07÷12)^(
−12×4))÷(0.07÷12))
=335.25
Total payments
335.25×12 months×4years
=16,092
Total amountof interest
16,092−14,000
=2,092
Hope it helps!
Answer:
net income 4,385
Explanation:
The income statment will only include revenues and expenses account.
A revenue will be the gain realized from the business main activity or secondary like interst or rental revenues.
While expenses will be the cash erogation or losses iincurred in the business activities, their financing like interest expenses and other.
revenues 9,850
expenses <u> 5,465 </u>
net income 4,385
The loan is not an expense. It wil lbe the interest it generated but we aren't given with that information
The dividends also aren't an expense they represent the return to the investors.
A verbal contract is generally legally binding, but enforcement requires a significant burden of proof. In this particular instance, there would be exceptional difficulties in compelling Chris to pay.
Answer: The amount $62,000 ($50,000 + $12,000) would be Genevieve's Opportunity Cost
Explanation:
Opportunity cost is the next best alternative foregone.
Answer:
depletion expense 103,560
Explanation:
The first step, is to calculate the rate per ton
coal mine 1,001,000
coal reserve 58,000
We divide the total coal reserve for the mine cost.
depletion rate 1.001.000/58.000 = 17,2586 = 17.26
Then we multiply bythe tons extracted for the period
depletion for the first year 6,000 tonds x 17.26 per ton = 103,560
This will be the depletion expense for the year.
