The quantity a lender costs a borrower and is a percent of the principal of the quantity loaned; is called as an interest rate. The total amount of interest she will pay is $418.68
<h3>What do you mean by interest on a loan?</h3>
A mortgage is normally mentioned on an annual foundation referred to as the once-a-year percent fee (APR). It is known as interest rate.
As per the information,
Costs = $10,000, Down payment is equal to $1,000; where PV is the amount owing = $9,000
Rate of interest is 3%, that is 3%/12 = 0.0025;
n is the number of periods = 3 x 12 = 36 months.
A) The dollar amount that Lindsay will need to finance is $9,000
B) Now, to calculate the installment amount to be paid that is P:
![PV = P(\frac{1 - (1 + r)^{-n} }{r} )\\\](https://tex.z-dn.net/?f=PV%20%3D%20P%28%5Cfrac%7B1%20-%20%281%20%2B%20r%29%5E%7B-n%7D%20%7D%7Br%7D%20%29%5C%5C%5C)
![9,000 = P(\frac{1 - (1 + 0.0025)^{-36} }{0.0025} )\\\\\\9,000 = P\frac{ ( 1 - 0.9140)}{0.0025} \\\\9,000 = 34.4P\\\\P = $261.63\\\\Hence, the amount of installment that she will pay = \$261.63](https://tex.z-dn.net/?f=9%2C000%20%3D%20P%28%5Cfrac%7B1%20-%20%281%20%2B%200.0025%29%5E%7B-36%7D%20%7D%7B0.0025%7D%20%29%5C%5C%5C%5C%5C%5C9%2C000%20%3D%20P%5Cfrac%7B%20%28%201%20-%200.9140%29%7D%7B0.0025%7D%20%5C%5C%5C%5C9%2C000%20%3D%2034.4P%5C%5C%5C%5CP%20%3D%20%24261.63%5C%5C%5C%5CHence%2C%20the%20amount%20of%20installment%20that%20she%20will%20pay%20%3D%20%5C%24261.63)
C)The actual cost of the car after financing = $1,000 + $261.63 x 36 = $10418.68
The total amount of interest she will pay = $10418.68 - $10,000 = $418.68
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Answer:
b. $360,000.
Explanation:
Data provided in the question
Purchase value of the patent = $720,000
At the time of purchase, the patent life is 15 years
And, the useful life of the patent is 10 years
So, the amortization expense recorded value is
= $720,000 ÷ 10 years × 5 years
= $360,000
The five years is counted from the year 2006 to the year 2011
Answer:
any financial sub-unit within an organization that has the responsibility to account for the performance of other organizational sub-unit
Explanation:
The responsibility center is the functional entity within a business that have their own goals and objectives, staff who is dedicated to their work, rules, regualtions, policies, procedures. It generally provide the managers the responsibility for the generation of the revenue, expenses that are incurred or the fund that is invested
So the above represent the answer
Answer: A
Explanation:
Idk I’m just guessing bc the person who tried before gave us a whole book so