Career question easy below :)

Joanne and ed greenwood built a new barn with an attached arena. to finance the loan, they paid $1,307 interest on $45,000 at 4.

nikitadnepr [17]

Answer: The loan was taken for 265 days.

We arrive at the answer as follows:

First we find the ratio of interest paid to the total loan amount to determine the interest rate:

Interest paid = $1,307

Loan Amount = $45,000

$\frac{Int paid}{Loan amount} = \frac{1307}{45000} = 0.029044444$

Since the interest rate calculated above is less than the annual interest rate at 4%, we conclude that the loan taken was for a period of less than one year.

We can determine the period for which the loan was taken as follows:

Let 'x' be the time for which the loan was taken.

We need to solve for x in the proportion below

0.04 : 365 :: 0.029044444:x

Solving we get,

$\frac{0.04}{365} = \frac{0.029044444}{x}$

$x = \frac{0.029044444 * 365}{0.04}$

$x = 265.0305556$

8 0

4 years ago

A. property rights are closely linked to the degree with which individuals use their entrepreneurial skills.

skad [1K]

What exactly is the question?

6 0

3 years ago

Cash Discount Calculations On June 1, Meadow Company sold merchandise with a list price of $40,000. For each of the sales terms

Step2247 [10]

Answer:

Credit Terms Date Paid Amount received

1 2/10,n/30 June 8 $39,200

2 1/10, n/30 June 15 $40,000

3 1/15, n/30 June 14 $39,600

4 n/30 June 28 $40,000

Explanation:

Sales are made on June 1 with list price $40,000

1.

June 8

The receipt is within the discount period of 10 days, so the amount received will be net of 2% discount as follow

Amount Received = $40,000 x ( 1 - 2%) = $39,200

2.

June 15

The receipt is after the discount period of 10 days, so the full amount will be received as follow

Amount Received = $40,000

3.

June 14

The receipt is within the discount period of 15 days, so the amount received will be net of 1% discount as follow

Amount Received = $40,000 x ( 1 - 1%) = $39,600

4.

June 28

There is no discount offered in this term and credit period of 30 days is given. The cash receipt is within the credit period, So the full amount will be received as follow

Amount Received = $40,000

4 0

3 years ago

Proposal preparation is completed by Select one: a. a large team for a simple project. b. a single person when proposing a multi

castortr0y [4]

Answer:

d. one or more people depending upon the requirements of the proposal.

Explanation:

A proposal can be defined as a plan or suggestion which are formally written to present an idea to an individual or organization for consideration.

Proposal preparation is completed by one or more people depending upon the requirements of the proposal.

In order to prepare a good proposal, it is very important to make it as formal as possible. The content of the proposal is strictly based on what the initiators wants to do or achieve, as well as how they wish to achieve.

<em>Hence, a proposal is only prepared with regard to the requirements of the proposal and the number of people involved. Proposals are usually used by project managers or contractors seeking for a contract</em>.

7 0

4 years ago

an accountant is 40 years old and has an anticipated retirement age of 70 years old. the accountant plans to save $6,000 per yea

liq [111]

The accountant have upon retirement $336,509.63

What is the future value of an annuity?

The accumulated balance in the accountant's retirement account upon retirement is the future value of $6,000 invested for 3 years earning 4% annual rate of return using the future value formula of an ordinary annuity as shown below:

FV=PMT*(1+t)^N-1/r

FV=accumulated balance after 30 years=unknown

PMT=annual investment=$6,000

r=rate of return=4%

N=number of annual investments in 30 years=30

FV=$6000*(1+4%)^30-1/4%

FV=$336,509.63

Find out more about future value on:brainly.com/question/20910838

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6 0

1 year ago