<u>Calculation of period of the loan:</u>
It is given that The loan amount is $6,071 and the annual interest rate is 8%, that means the interest for one year shall be $6,071*8% = $485.68.
Now we are given that the total interest paid is $1,700. The time period of the loan can be calculated by dividing the total interest by the annual interest amount. Hence the period of the loan shall be = 1700 / 485.68 = 3.5 Years.
Hence he had the loan for <u>3.5 years</u>.
Answer: $500
Explanation:
Accounting profit = Revenue - Cost
Revenue = 100 ×$10 = $1,000
Cost: 100 × $5 = $500
Accounting profit = $1000 - $500 = $500
Answer:
Adjusted cash balance is $ 60,224.
Explanation:
Detailed steps of solution are below
Answer:
The correct answer is option d.
Explanation:
The 100th unit of output that the firm produces has a marginal revenue of $11 and a marginal cost of $10.
The profit to a firm is maximized when the marginal revenue earned and marginal cost incurred are equal.
When the firm is producing the 100th unit of output the marginal revenue is $1 higher than the marginal cost. This implies that the production of the 100th unit increases the firm's profit by $1.
Answer:
The answer is Credit.
Explanation:
Net loss can be thought of as a <u>Credit </u>to the Capital account.
