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ozzi
3 years ago
6

Prepare an amortization schedule for a three-year loan of $84,000. The interest rate is 9 percent per year, and the loan calls f

or equal annual payments. How much total interest is paid over the life of the loan
Business
1 answer:
Keith_Richards [23]3 years ago
7 0

Answer:

Amortization Schedule

Year   Payment       Principal          Interest           Balance

1        35,560.00     28,000.00      7,560.00         56,000.00

2       33,040.00     28,000.00      5,040.00         28,000.00

3       30,520.00     28,000.00      2,520.00         0.00

Explanation:

Loan of $84,000.00 at 9% interest  with 3 annual payments  at Constant Principal Payments of  $28000 .

Total Payments: $99,120.00 Total Interest: $15,120.00

The Interest payment and principal amount is gradually decreased with principal value of the loan. The principal value at the end of the year 3 is zero.

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Answer:

The US dollar is worth more value than INR.

Explanation:

The US dollar is worth more value than INR under flexible exchange rate system, quantity of dollar supplied exeed the quantity of dollar demanded. There are multiple factors which affect the valuation of currency. One of the factor is purchasing power parity, as it show the strength of domestic economy. Inflation is another factor affecting the currency of the nation, higher inflation rate lead the value of currency go down.

7 0
3 years ago
Betty made a 20% profit on a residential lot she sold for $30,000. What did she pay for the property
Ludmilka [50]

Answer: $25000

Explanation:

From the question, we are informed that Betty made a 20% profit on a residential lot she sold for $30,000. Let the cost price of the property be represented by x.

Therefore, (100% + 20%) of x = $30000. This means that 120% of x = $30000.

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1.2x = $30000

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Therefore, the amount paid for the property is $25000

3 0
3 years ago
Which of the following statements is false?
ella [17]

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Not necessarily. As long as the company follows GAAP (IFRS or ASPE), the format and information should be the same. This is because the accounting standards requires firm to report financial information in a specific way.

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2 years ago
What are the two main forces that underlie the globalization of markets and production?
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The final step in recognizing the completion of production requires a company to?
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Production is the process of making, harvesting, or creating something, or the quantity of something manufactured or harvested. An example of production is the manufacture of furniture. An example of production is harvesting corn for food. An example of production is corn production.

The economist classifies the factors of production into his four categories: land, labor, capital and entrepreneurship. The first element of production is land, which includes all natural resources used to produce goods and services.

Learn more about production brainly.com/question/16755022

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