Answer:
$79,247
Explanation:
Installment includes the interest and principal as well to be paid on equal proportion. It need to be separated to report in the financial statement. Installment amortization is used to calculate the principal portion and interest portion of each years installment.
Installment Sale Schedule
Year Balance Payment Principal Interest
1 $947,700 $250,000 $155,230 $94,770 ( 947,700 x 10% )
2 $792,470 $250,000 $170,753 $79,247 ( 792,470 x 10% )
Interest of $79,247 should be included in Melton's 2015 income statement.
5x7+9
You would be using
P. Parentheses
E. Exponents
M. Multiplication
D. Division
A. Addition
S. Subtraction
Since in this problem multiplication comes before addition you would do that first,
5 multiplied by 7 is 35
35 plus 9 is 44
Your answer would be 44
If you have any more questions feel free to ask,
Hope this helps! :3
Answer:
67.29%
Explanation:
The computation of the contribution margin ratio is shown below:
Contribution margin ratio = (Contribution margin) ÷ (Sales) × 100
where,
Contribution margin equals to
= Total sales - variable cost
= $214,000 - $70,000
= $144,000
So, the Contribution margin ratio is
= ($144,000) ÷ ($214,000) × 100
= 67.29%
The total interest earned at the end of 4 years is $2,507. 90.
The formula for determining simple interest is: Principal x interest rate x time
$4000 x 3.2% x 4 = $512.
The formula for determining interest with compounding is: future value - amount invested.
The formula for calculating future value:
FV = P (1 + r/m)^nm
- FV = Future value
- P = Present value
- R = interest rate
- m = number of compounding
- N = number of years
Future value of the savings account = $4000 x (1.021)^4 = $4346.73
Interest = $4346.73 - $4000 = $346.73
Future value of the certificate of deposit = $7500 x (1.0125)^16 = $9149.17
Interest = $9149.17 - $7500 = $1649.17
Total interest = $1649.17 + $346.73 + $512. = $2,507. 90.
To learn more about future value, please check: brainly.com/question/18760477