Answer:
Lynn will receive $63,754 at the end of 8 years.
Explanation:
Future value is the sum of value of principal invested and compounded return received over the investment period.
Using following formula of future value to calculate the required interest rate.
FV = PV x ( 1 + r )^n
PV = Present value = $40,000
n = number of years = 8 years
r = Interest rate = 6%
FV = Future value = ?
FV = $40,000 x ( 1 + 6% )^8 = $63,754
The correct answer would be option C.
Allowing employees to pray during work time.
Explanation:
Non penalized religious observance means, If someone practice his or her religion during the work hours, as it is compulsory in his/her religion to do so, at the place where he works.
So companies allow employees to pray during work hours which will be a non penalized religious observance for the employees.
For example, If there is a Muslim who works in an organization which is owned by the people of other religion, and if he offers his prayers during his work hours, then the company will respect his offerings and won't charge or penalize him on the observance of his religion during the office timings.
Learn more about Religious observance at:
brainly.com/question/2887557
#LearnWithBrainly
Answer:
Cash borrowed = $120,000
Interest on promissory note = 10%
The journal entry is as follows:
On December 31,
Interest expense A/c Dr. $3,000.00
To Interest payable $3,000.00
(To record interest accrued on note)
Working notes:
Interest expense:
= $120,000 × 10% × (3/12)
= $120,000 × 0.1 × (1/4)
= $3,000
