Answer:
$240.76
Explanation:
The formula to determine the annual deposit is :
p = FV / annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
FV = Future value
P = Present value
R = interest rate
N = number of years
Annuity factor = (1.07^11 - 1) / 0.07 = 15.783599
p = $3800 / 15.783599 = $240.76
Answer:
$46.8
Explanation:
The shoe is worth $85. You pay a deposit of $40. The balance is $45.
So $45 is charged at 8% interest for six months.
Simple interest I= p x r x t
In this case, p is $45,
r is 8%
t= 6 months or 0.5 years
I = $45 x 8/100 x 0.5
I= $45 x 0.08 x 0.5
I=$1.8
The total amount owed will be $45 + $1.8
=$46.8
Answer:
Loss on disposal $1,800
Explanation:
Cost of Asset 26,000
Useful life 5years
Sale proceeds 19,000
Depreciation for the year=$26,000/5=$5,200
Written Down value(WDV)=$26,000-$5,200=$20,800
Loss on Disposal= Sale proceeds- WDV=$19,000-$20,800=$1,800
It is assumed that depreciation is fully charged for the year on asset.
