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Schach [20]
3 years ago
8

A loan is being amortized by means of level monthly payments at an annual effective interest rate of 8%. The amount of principal

repaid in the 12th payment is 1,000 and the amount of principal repaid in the t^th payment is 3700.a) 198b) 204c) 210d) 216e) 228
Business
1 answer:
suter [353]3 years ago
4 0

Answer:

d) 216

Explanation:

We need to equate the value of 12th payment and t^th payment through the below formula.

=> 1000*(1+8%)^[(t-12)/12] =3700

=> (1.08)^[(t-12)/12] =3.7

=> [(t-12)/12] =17

=> t=216

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DLW, Inc just started its business. DLW purchased factory equipment for $800,000 on January 1. It is estimated that the equipmen
igor_vitrenko [27]

Answer:

Annual depreciation= $77,000

Explanation:

Giving the following information:

Purchase price= $800,000

Salvage value= $30,000

Useful life= 10 year

Under the straight-line method of depreciation, the depreciation expense is constant along the useful life.

We need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (800,000 - 30,000)/10

Annual depreciation= $77,000

6 0
4 years ago
Selma deposited a paycheck for $378.42. she’ll use the check register to record her transaction. What will be her new balance?
stepladder [879]

Selma’s new balance will be $378.42. A paycheck also known as a pay check or pay cheque, is a paper document issued by an employer to pay an employee for services rendered. However, the physical paycheck is increasingly being replaced by electronic direct deposits to the employee's designated bank account or loaded onto a payroll card.

Employees may still receive a pay slip detailing the final payment amount calculations. A salary statement, also known as a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes or is attached to the paycheck.

Each country has laws governing what information must be included on a payslip .

To learn more about paycheck, click here

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5 0
2 years ago
Gene is looking for a loan so that he can buy a car. There are a few different banks where he can apply for a loan. What should
ElenaW [278]

Answer:

The Answer To This Question is B. a good credit score.

Explanation:

8 0
3 years ago
Twenty additional kayakers pay $3,000 ($150 each), in addition to the $4,000 that was paid in advance on July 30, on the day of
lisabon 2012 [21]

Answer:

Dr Cash (3,000)

Cr Deferred Revenue (4,000)

Cr Service Revenue (Clinic) (7,000)

Explanation:

Preparation of the appropriate journal entry

Since we were told that kayakers pay the sum of $3,000 at $150 each, by adding to the $4,000 that was already paid in advance on July 30 this means we have to record the transaction by Debiting Cash with the amount of (3,000); Crediting Deferred Revenue with the amount of (4,000) and Crediting Service Revenue (Clinic) with the amount of (7,000)

Note that the credit side of the transaction which is Deferred Revenue of 4,000 -Service Revenue (Clinic) of 7,000 will give us (3,000)

Journal entry

Dr Cash (3,000)

Cr Deferred Revenue (4,000)

Cr Service Revenue (Clinic) (7,000)

7 0
3 years ago
Topik is a product that is sprayed on thinning hair and makes the hair appear thicker. The manufacturer considers its potential
Alik [6]

Answer:

(C) target market

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The group of people for which a product is designed and aimed to is the product's target market. In this case, Topik is a product that aims to sell to blue-collar workers who earn less than $30,000 per year, are divorced, and who like to think of themselves as weekend athletes, which is the product's target market.

The answer is (C).

4 0
4 years ago
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