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3 years ago

If $13,000 is borrowed at 5.8% simple interest for 10 years, how much interest will be paid for the loan

Business

1 answer:

Anni [7]3 years ago

4 0

Answer:

7,540

Explanation:

Principle is $13,000

Rate is 5.8%

Time is 10 years

Therefore the simple interest can be calculated as follows

= principle × rate × time

= 13,000 × 5.8/100 × 10

= 13,000 × 0.058×10

= 7,540

Hence the simple interest is 7,540

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Department J had no work in process at the beginning of the period. 18,000 units were completed during the period, and 2,000 uni

kykrilka [37]

Answer:

a. $283,140

Explanation:

equivalent units: complete untis + percentage of completion ending units

(notice there is no beginning inventory)

18,000 complete + 2,000 x 100% = 20,000 materials

18,000 complete + 2,000 x 30% = 18,600 conversion cost

equivalent cost: 100,000 / 20,000 = 5

conversion cost: (142,300 + 57,200) / 18,600 = 10,72580 = 10.73

total unit cost: 15.73

transferred-out units: 18,000 x 15.73 = 283.140‬

3 0

3 years ago

Primrose Yard receives 15,000 large trees each year that they process into 15,000 rough logs. Currently, Primrose sells the roug

Kazeer [188]

Answer:

c. It should process further because the reduction in the cost of the trees is irrelevant.

Explanation:

For the purpose of this Decision,

Benefit of processing further = Sales Value after processing – Sale Value before processing – Further Processing costs

Cost of acquiring trees is a sunk cost already incurred and hence is not relevant

Hence, benefit of processing = (0.80-0.20)*350 – 50

= $160

Hence, the answer is

c. It should process further because the reduction in the cost of the trees is irrelevant.

7 0

3 years ago

On the first day of the fiscal year, Hawthorne Company obtained an $88,000, seven-year, 5% installment note from Sea Side Bank.

Alex73 [517]

Answer:

DR - Interest expense - $4,400

Explanation:

DR - Interest expense - $4,400

DR - Notes payable - $10,808

CR - Bank/Cash - $15,208

5 0

3 years ago

Read 2 more answers

If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the num

goldenfox [79]

Answer:

Unemployment rate is 25%

Explanation:

The percentage of people eligible for job and not currently involved in paid work or self employed and available for work as well is called rate of unemployment. It is the percentage of people who is not currently woking seeking the job.

Labor Force = Employed persons + Unemployed persons

Labor Force = 24 million + 8 million

Labor Force = 32 million

Unemployment rate = ( Unemployed persons / Labor force ) x 100

Unemployment rate = ( 8 million / 32 million ) x 100 = 25%

3 0

3 years ago

Imagine a company that sells hammers charges customers $10 for each hammer. To make the hammer the company spends $7 on input co

Luda [366]

Answer: Production Method

Explanation: Gross domestic product, also known as GDP, calculates the total value of products and sevices that are produced in an economy. This in turn measures the total income of a country.

The method that applies in this scenario is the production method. This method focuses on goods, by looking at its final value after deducting the input costs, also known as intermediate goods. Input costs (or intermediate goods) are the cost of materials that were used to make the final product, i.e. the production costs. Once the input costs are deducted from the total value of the goods , what remains becomes the actual income of the goods, the final cost, which is then added to GDP.

7 0

3 years ago