Answer:
Loan Q’s finance charge will be $83.73 greater than Loan P’s
Step-by-step explanation:
Using EMI Formula
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Loan P
P = $19,450
R = 5.8/1200
N = 9 * 12 = 108
EMI = 231.6 $
Amount Paid = 231.6 * 108 = $ 25012.8
Interest Paid = 25012.8 - 19450 = $ 5562.8
Service Charge = $ 925
Total Finance Charges = $ 6487.8
Loan Q
P = $19,450
R = 5.5/1200
N = 10 * 12 = 120
EMI = 211.1 $
Amount Paid = $ 25330.8
Interest Paid = 25330.8 - 19450 = $ 5880.8
Service Charge = $ 690.85
Total Finance Charges = $ 6571.65
Loan Q - Loan P fiance charges = $ 83.85
Loan Q’s finance charge will be $83.73 greater than Loan P’s is closet
They just added 100 each time so i think the answer is b
Asset = 264,000 / 0.75 = $352,000
Shareholders equity = $352,000 - $264,000 = 88,000
Return on equity = 49,280 / 88,000 x 100% = 56%
25x=65
We divide 25 to cancel it out.
65/25=2.6
I would assume 3, because 2.6 is 3 when rounded up.
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hope it helps
the second one, and the third one
