Solution :
Initial amount is : $1091 .
Rate, r = 0.12 .
Let, amount will be $1728 in t years.
So,
Hence, this is the required solution.
Answer:
Wally and Pay More Incorporated
The loan resulted in any income to Wally of $3,960 ($4,320 - $360), which would have been a cost he would have incurred had he borrowed the loan at the prevailing federal interest rate.
On the other hand, it resulted in a lost revenue (expense) of $3,960 ($4,320 - $360) which Pay More Incorporated could have earned if it had loaned it at the prevailing federal interest rate. This expense is a compensation expense.
Explanation:
Pay More's Loan to Wally = $36,000
Interest rate = 1%
Prevailing interest = $4,320
Interest paid = $360
Difference between prevailing interest and interest paid by Wally = $3,960 ($4,320 - $360).
Answer:
technology
Explanation:
because they have to be search
