Steve will get $11360 with the process of simple interest.
<h3>what is simple interest?</h3>
Simple interest is calculated based on a loan's principal or the initial deposit into a savings account. Simple interest doesn't compound, therefore a creditor will only charge interest on the principal sum, and a borrower will never be required to pay further interest on the interest that has already accrued.
Rate of interest = 14%
principal + interest = $8000
Time = 3 years
Simple interest
Now principal + interest = 8000+3360 = 11360
Therefore, Steve will get $11360.
To learn more about simple interest from the given link
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The amount of the PBO at December 31, 2021, was $333800
<u>Explanation:</u>
The amount of PBO at december 31st is calculated as follows:
PBO on jan 1, 2021 = $268000
add: Service cost = $86000
add: interest = $26800
less: pension benefits that have been paid = $47000
now, we have to solve the above calculation
we get, PBO at dev 31 = $333800
Note: interest is calculated by multiplying the PBO amount on Jan 1,2021 with the rate of interest given.
Thus, $268000 multiply 10% = $26800
The answer is they seem to go together, since as time passes, the higher the interest rates grow or vice versa, while time passes interest rates may fall as well, but commonly, as time passes, so does interest rates rise. This reactions may be seen in huge companies or organizations that have invested huge amounts of money that have grown overtime
Answer:
The answer is: A) strategic alliance
Explanation:
A strategic alliance is an agreement between two or more independent companies to participate in a mutually beneficial project. The companies share resources for this specific project while remaining independent in all their other business activities.
This is usually done to try to enter a new market or to develop a new product.
Explanation:
The journal entry are as follows
On April 20
Sales returns A/c Dr $3,000
To Account receivable A/c $3,000
(Being the sales returned of goods is recorded)
While recording this given transaction, we debited the sales return account and credited the account receivable account so that the proper posting could be done
