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Novay_Z [31]
3 years ago
11

1.2.35 Question Help Ralph Chase plans to sell a piece of property for ​$ 140000 140000. He wants the money to be paid off in tw

o ways minus −a ​short-term note at 11 11​% interest and a​ long-term note at 9 9​% interest. Find the amount of each note if the total annual interest paid is ​$ 14100 14100.
Business
1 answer:
VARVARA [1.3K]3 years ago
3 0

Answer:

a). The amount of the short-term loan=$128,181.82

b). The amount of the long-term loan=$156,666.67

Explanation:

The total annual interest to be paid can be expressed as;

I=PRT

where;

I=annual interest

P=principal amount of the note

T=number of years

a). For the short-term note's case;

I=$14,100

P=unknown

R=11%

T=1 year

replacing;

14,100=P×(11/100)×1

0.11 P=14,100

P=14,100/0.11

P=128,181.82

The amount of the short-term loan=$128,181.82

b). For the long-term note's case;

I=$14,100

P=unknown

R=9%

T=1 year

replacing;

14,100=P×(9/100)×1

14,100=P×0.09

0.09 P=14,100

P=14,100/0.09

P=156,666.67

The amount of the long-term note=$156,666.67

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Answer:

Etter capital                           $83,000

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Explanation:

Data provided in the question:

Capital balance of  Myles Etter = $249,000

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Amount of interest sold by the Etter to Lonnie Davis = one-third

Sales price = $70,000

Now,

Required entry will be as follows

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Lonnie Davis capital                                   $83,000

Here,

the cash will be directly received by the Etter not by the partnership

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It will have not effect on the entry.

6 0
3 years ago
3. The last dividend paid by New Technologies was an annual dividend of $1.40 a share. Dividends for the next 3 years will be in
Nookie1986 [14]

Answer:

$12.60

Explanation:

The computation of the current value of the stock is shown below:-

= $1.40 × (1.08) ÷ 1.16 + 1.40 × (1.08)^2 ÷ (1.16)^2 + 1.40 × (1.08)^3 ÷ (1.16)^3 + 1.40 × (1.08)^3 × (1.03) ÷ (0.16 - 0.03) × (1.16)^3

= $1.3034 + $1.2136 + $1.1299 + $8.9520

= $12.60

Therefore for computing the current value of stock we simply solved the above equation.

7 0
2 years ago
On October 1, 2009, the Nintendo Wii's Japanese price dropped from ¥25,000 to ¥20,000. In the three months after the price drop,
kykrilka [37]

Answer:

B) 0.7; inelastic

Explanation:

The computation of the absolute value of the price elasticity of demand is shown below:

Elasticity is

= [(Sales - prior sales) ÷ ( Sales + prior sales) ÷ 2] ÷ [(price - dropped price) ÷ (price - dropped price) ÷ 2

= [(1,040,000 - 890,000) ÷ (1,040,000 + 890,000) ÷ 2] ÷ [(25,000 - 20,000) ÷ (25,000 + 20,000) ÷ 2]

= (150,000 ÷ 965,000) ÷ (5,000 ÷ 22,500)

= 0.15 ÷ 0.22

= 0.7

It is less than one so the demand is inelastic

4 0
3 years ago
To be considered of high quality, a product must: Select one: a. meet high specifications b. meet customers' stated expectations
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Answer:

D

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2 years ago
Kennedy Company uses the balance sheet approach in estimating uncollectible accounts expense. The company prepares an adjusting
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Answer:

The amount of uncollectible account expense was recorded for July was $9,500

Explanation:

According to the given data we have the following:

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Increase in Allowance for Doubtful Accounts=$4,300

Therefore, in order to calculate the  amount of uncollectible account expense was recorded for July we would have to make the following calculation:

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Uncollectible accounts expense for July=$9,500

The amount of uncollectible account expense was recorded for July was $9,500

3 0
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