Help!!!!! please give an explanation!

In three years, when he is discharged from the Air Force, Steve wants to buy an 8,000 power boat.

eduard

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

$=\frac{8000 \times 3 \times 14}{100}\\=3360$

Now principal + interest = 8000+3360 = 11360

Therefore, Steve will get $11360.

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4 0

2 years ago

Mill Company began operations on January 1,2017, and recognized income from construction-type contracts under different methods

ANTONII [103]

Answer:

i. Deferred income taxes balance on December 2019 is $192,500

ii. Deferred tax asset.

Explanation:

Year Tax purpose Book purpose Difference Deferred tax book

2017 $400,000 $0 $400,000 $140,000

2018 $625,000 $375,000 $250,000 $87,500

2019 $750,000 $850,000 ($100,000) (<u>$35,000)</u>

Deferred tax asset balance on December 2019 = <u>$192,500</u>

<u><em>Working</em></u>

<u>Deferred tax book</u>

2017 = 400,000 * 35% = $140,000

2018 = 250,000 * 35% = $87,500

2019 = (100,000) * 35% = ($35,000)

ii. Book income is less than tax income in 2017 and 2018. Deferred tax asset would be accounted. Book income is higher than tax income in 2019. Deferred tax asset would be reverse (i.e. deferred tax liability). Balance at the end of December 31, 2019 would be Deferred tax asset.

4 0

3 years ago

When consumers are characterized as preservers, makers, takers, changers, seekers, or escapers, this is because these reflect th

Nimfa-mama [501]

When consumers are characterized as preservers, makers, takers, changers, seekers, or escapers, this is because these reflect their "view of society."

<h3>What is economic sociology?</h3>

Economic sociology is the study of the manufacturing, distribution, transfer, and consumption of products and services using sociological concepts and methods.

Some key features regarding the economic sociology are-

Economic sociology is especially concerned with the connections between economic activity and the rest of society, as well as changes in the organizations that contextualize as well as condition economic activity.
Although traditional economic analysis begins with the atomistic individual, economic sociology typically starts with groups or entire societies, which it opinions as existing independently of it and partially comprising the individual.
When economic sociologists focus on individuals, it is usually to investigate how their mutual interests, beliefs, as well as motivations to act are formed through their interactions.

To know more about the economic sociology, here

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4 0

1 year ago

Something you enjoy or want to know more about is a(n) _____.

gtnhenbr [62]

The answer is B. Interest

3 0

2 years ago

Read 2 more answers

What is a deficit?

Marizza181 [45]

Explanation:

In any single year, federal government takes in money and spends money, any year in which the government spends more than it takes out it runs a deficit.

8 0

3 years ago

Read 2 more answers