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Vilka [71]
2 years ago
14

kya clark borrowed 7500 ay 6%ordinary interest for 180 days after 40 days she made a partial payemnt of 2500 after another 70 da

ys kya made a second partial payment of 3000 using the U.S rule what is the final amount due?
Business
1 answer:
mr Goodwill [35]2 years ago
4 0

Answer:

$2,133.52

Explanation:

lets try to put some dates into the question:

Kya borrowed $7,500 on June 1.

On July 10, she made a partial payment of $2,500. The loan's balance on July 10 was $7,500 + [$7,500 x 6% x 40/360 (remember ordinary interest is 360 days)] = $7,550 - $2,500 = $5,050

On September 18, Kya made a second payment of $3,000. The loan's balance before the payment = $5,050 + ($5,050 x 6% x 70/360) = $5,108.92 - $3,000 = $2,108.92

On November 27 when her loan is due, she will need to pay $2,108.92 + ($2,108.92 x 6% x 70/360) = $2,133.52

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Sally Eason put $4,000 in her deductible IRA this year. If Sally is in the 25 percent marginal tax bracket, the government actua
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Answer: $1000

Explanation:

From the question, we are informed that Sally Eason put $4,000 in her deductible IRA this year and that Sally is in the 25 percent marginal tax bracket.

Based on the above information, the government contributed:

= 25% × $4,000

= 25/100 × $4,000

= 0.25 × $4,000

= $1000

4 0
3 years ago
For each statement, identify the appropriateness of the behavior when it comes to preparation.
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Explanation:

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3 years ago
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A merit system of police employment is established when an independent civil service commission, in cooperation with the city pe
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4 0
2 years ago
Ahmed Company purchases all merchandise on credit. It recently budgeted the following month-end accounts payable balances and me
vazorg [7]

Answer:

Budgeted amounts:                 June              July              August

1. Purchases                             $1,480,000   $1,570,000   $1,220,000

2. Cost of goods sold              $1,240,000   $1,770,000   $1,190,000

Explanation:

The computations are shown below:

1.

Budgeted amounts:                 June              July              August

Ending accounts payable         $130,000    $300,0000    $120,000

Payments on account              $1,500,000  $1,400,000     $1,400,000

Subtotal                                  $1,630,0000 $1,700,000      $1,520,000

Beginning accounts payable  ($150,000)     ($130,000)      $300,000)

Purchases                                $1,480,000   $1,570,000     $1,220,000      

2.

Budgeted amounts:                 June               July                   August

Beginning inventory                 $260,000      $500,000      $300,000

Purchases                                 $1,480,000   $1,570,000     $1,220,000      

Cost of goods available for sale  $1,740,000 $2,070,000  $1,520,000

Ending inventory                         (500,000)     (300,000)     (330,000)

Cost of goods sold                      $1,240,000   $1,770,000   $1,190,000

 

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The answer is both A and B
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