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lyudmila [28]
3 years ago
9

West Company borrowed $36,000 on September 1, 2016 from the Valley Bank. West agreed to pay interest annually at the rate of 6%

per year. The note issued by West carried an 18-month term. Based on this information the amount of interest expense appearing on West's 2016 income statement would be:a. $0 b. $234 c. $585 d. $780
Business
1 answer:
Illusion [34]3 years ago
5 0

Answer:

$720

Explanation:

Given that,

Principal = $36,000

Rate = 6% per year

Note issued by West carried an 18-month term.

Time period: 1st September to December = 4 Months

Interest expense = Principal × Rate × Time period

= 36,000 × 6% × (4 ÷ 12)

= $720

Therefore, the amount of interest expense appearing on West's 2016 income statement would be $720.

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OLEGan [10]

Answer:

E. Is the purpose realistic?

Explanation:

A purpose would be referred to as realistic, when it is backed by real evident reasons which determine the chances of happening or non happening of an event. It refers to realistic perception which is backed by logics, reasons and practicality rather than a  desire, whim or an impulse.

In the given case, the company is going through a rough patch financially. In such a scenario, one of it's employees is desirous of pay raise and is considering to compose and send a message for the same object.

With available facts and situation apparent to the employee, it would first realistically seek an answer to the question, whether realistically his demand would be met, given the situation.

The employee needs to weigh in the pros and cons and decide if it would be the right time to send such a message and the possibility of how such a demand would be responded/reacted to.

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3 years ago
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What is my level of education if I just finished 10th grade?
Allushta [10]

11th grade because that's the grade above

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The actual interest rate on a loan that is compounded monthly but expressed as an annual rate is referred to as the _____ rate.
Brrunno [24]

annual percentage rate

The effective tax rate of return from an investment for a year, taking into account compound interest, is known as the annual percentage yield (APY). The amount that lenders charge borrowers as a proportion of the principle is called the interest rate. Additionally, it is the sum derived from deposit accounts.

The annual interest produced by an amount that is paid to investors or levied to borrowers is referred to as the annual percentage rate (APR). APR is a percentage that expresses the real annual cost of borrowing money throughout the course of a loan or the revenue from an investment. This does not account for compounding and includes any fees or other expenditures related to the transaction.

To know more about annual percentage rate refer to brainly.com/question/26037117

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3 0
2 years ago
IP Company has a preliminary cash balance of $25,000 and an agreement with the bank that it will keep a minimum balance of $20,0
Viktor [21]

Answer: $7,000

Explanation:

From the question, we are informed that IP Company has a preliminary cash balance of $25,000 and an agreement with the bank that it will keep a minimum balance of $20,000 and that IP Company has a beginning loan balance of $12,000.

The ending loan balance will be:

= $20,000 + $12,000 - $25,000

= $32,000 - $25,000

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3 0
3 years ago
At a price of $1.00, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.20, the coffee shop w
Julli [10]

Answer:

2.2

Explanation:

The formula for calculating price elasticity using the midpoint method is:

midpoint method = {(Q2 - Q1) / [(Q2 + Q1) / 2]} / {(P2 - P1) / [(P2 + P1) / 2]}

midpoint method = {(150 - 100) / [(150 + 100) / 2]} / {(1.20 - 1) / [(1.20 + 1) / 2]}

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midpoint method = 0.4 / 0.19 = 2.2

The advantage of using the midpoint method to calculate price elasticity is that we can calculate the price elasticity between two points, and it doesn't matter if the price increases or decreases.

If we calculate price elasticity using the single point formula:

price elasticity = % change in quantity supplied / % change in price = 50% / 20% = 2.5

7 0
4 years ago
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