Answer:
c. $50,400
Explanation:
The computation of the interest expense is shown below:
= Borrowed amount × rate of interest
= $480,000 × 10.5%
= $50,400
hence, the interest expense is $50,400
Therefore the correct option is c.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
$99,110
Explanation:
The commission due to Dowd is a function of the surplus made in the region over the annual quota.
Given that the annual quota for the Southern region is $450,000 and the sales in the same region for the year is $698,000.
The surplus sales over the annual quota
= $698,000 - $450,000
= $258,000
Since Dowd receives a commission of 4½ percent for all sales over the given quota,
Dowd's commission = 4½ × $258,000
= $11,610
The amount of salary and commissions due to Dowd
= $87,500 + $11,610
=$99,110
Answer:
$8750.87
Explanation:
This is compound interest problem. The formula used to solve this would be:
Where
F is the future value (what we want, after 3 years)
P is the initial value (given 6900)
r is the rate of interest per period
here, 8% per year, so 8/4 = 2% per period (since compounded per quarter)
t is the time (3 years and compounding per year so times of compounding is 3*4 = 12), so t = 12
Substituting, we get our answer:
<u>There will be about $8750.87 at the account at the end of 3 years!</u>
(The answer is)(you’re welcome)