Answer:
1.Jan 01 Dr Cash 360,000
Cr Notes payable 340,000
2.Interest expense 28,800
Principal Reduction 61,364
Explanation:
MM Co.
1 . Journal entry
Since MM Co. borrows $360,000 cash on January 1 from a bank this means we have to
Debit Cash with the amounts of money he borrowed which is $360,000 and Credit Notes Payable with the same amount.
Jan 01 Dr Cash 360,000
Cr Notes payable 340,000
2. Calculation of the amount goes toward interest expense and Principal reduction
Interest expense 28,800
(360,000*8%)
Principal Reduction 61,364
(90,164-28,800)
Answer: Expected value = $2.034
Explanation:
Total outcome = 52
Favorable Outcome = 8
Probability of drawing a card with a value of three or less = 
= 
= 
Probability of drawing a card with a value of more than three = 1 -
= 
Hence,
Expected value = 
= 22.338 - 20.304
= $2.034
B.it becomes more expensive to hold money as cash is the correct answer
The answer is <u>"A. Mutual funds".</u>
A mutual fund is a professionally overseen investment support that pools cash from numerous speculators to buy securities. These speculators might be retail or institutional in nature.
Mutual funds have points of interest and drawbacks contrasted with direct putting resources into individual securities. The essential favorable circumstances of mutual funds are that they give economies of scale, a larger amount of broadening, they give liquidity, and they are overseen by expert financial specialists. On the negative side, financial specialists in a mutual funds must pay different charges and costs.
