Answer:
a) Total Interest Paid in 24 months is $1680
b) Total Cost of the car is $12180
c) Monthly Payment is $420
d) Annual Percentage Rate is 10.47%
Explanation:
(a) Loan Amount = $8400
Interest Rate = 10%
Monthly Interest = 8400 x (10%/12)
= $70
Total Interest Paid in 24 months = 24 x 70
= $1680
(b) Total Cost of the car = Loan Amount + Interest Paid + Down payment
= 8400 + 1680 + 2100
= $12180
(c) Monthly Principal Payment = 8400/24
= $350
Monthly Payment = Monthly Interest Payment + Monthly Principal Payment
= 70 + 35
= $420
(d) Annual Percentage Rate = (1+ 0.10/12)12 - 1
= 0.1047
= 10.47%
A success biologist main interest area would be biology
Answer:
The correct answer is letter "B": $6,300.
Explanation:
According to the information disclosed by the Internal Revenue Service (IRS) in 2016, the standard deduction for dependents is the excess of earned income plus $350 or $1,050. That deduction cannot be greater than the current year standard deduction amount.
<em>For 2016, the standard deduction for a single filer was as maximum as $6,300. For 2019, the standard deduction for single filers is $12,200</em>.
Answer:
Technology provides students with easy-to-access information, accelerated learning, and fun opportunities to practice what they learn. It enables students to explore new subjects and deepen their understanding of difficult concepts, particularly in STEM.
Explanation:
Answer:
The retained earnings balance at the end of the year is $35,835.5
Explanation:
Income before tax (taxable income) = Sales - Costs - Depreciation expense - Interest expense = $105,700 - $78,300 - $9,000 - $635 = $17,765
The tax rate is 30 percent. The amount of tax the company had to pay:
$17,765 x 30% = $5,329.5
Net income = Income before tax - Tax = $17,765 - $5,329.5 = $12,435.5
The retained earnings balance at the end of the year = Beginning balance in retained earnings + Net income - Cash dividends - Stock dividends = $24,600 + $12,435.5 - $1,200 = $35,835.5