Answer:
8.75%
Explanation:
The annual interest rate will be computed as follows:
Loan amount = Proportion of loan X Price of house
Loan amount = 80% X $39,379 = $31,503.2
Annual interest = $229.69 X 12 = $2,756.28
Annual interest rate = ($2,756.28/ $31,503.2) X 100%
= 8.75%
Answer:
5 hours
Explanation:
Data provided in the question
Per month tennis charges = $50
Court time per hour = $10
Current month bill = $100
By considering the above information we can find out the variable expense that is shown below:
= Current month bill - per month tennis charges
= $100 - $50
= $50
So, the number of court time hours usage is
= $50 ÷ $10
= 5 hours
Answer and Explanation:
The impact on the sale and the payoff the loan in an accounting equation is as follows:
But before that
The following journal entries should be recorded
Cash $60,000
To Land $40,000
To Profit on sale of land $20,000
(Being the sale of the land is recorded)
Loan Dr $15,000
To Cash $15,000
(Being the loan is paid)
Here the cash would increased by $5,000, the liabilities would decreased by $15,000 and equity would be increased by $20,000
The answer is A. direct loans, and C. work-study programs.