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Taya2010 [7]
3 years ago
9

You get a $3,000 loan at 9% interest for 120 days. The lender uses a 365-day year. How

Business
1 answer:
Luda [366]3 years ago
8 0

Answer:

$3,088.80  

Explanation:

Note that the loan is meant for 120days , however, the interest rate quoted is on an annual basis, hence, the interest for 120 days is 2.96%  ( 9%*120/365).

It is equally important to note that at maturity the loan principal and the interest accrued thus far for 120 days are repayable to the lender as computed below:

total repayment=$3000+($3000*2.96% )

total repayment=$3000+$88.80  

total repayment=$3,088.80  

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Answer:

The journals entry to record depreciation on the equipment for 2016 will be:

Debit Depreciation expense $14,000

Credit Accumulated depreciation $14,000

<em>(To record depreciation expense for Year 2016)</em>

Explanation:

Under straight-line method, depreciation expense is (cost - residual value) / Estimated useful life = ($150,000 - $10,000) / 10 years = $14,000 yearly depreciation expense. This applies to Years 2015 and 2016.

The change in the estimate in Year 2017 will not affect the depreciation expense for 2016 based on the previous parameters,

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3 years ago
A building is an example of a _____ because it is a cost that does not change as output changes. fixed cost variable cost market
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The answer to this question is "Fixed Cost." this is because it doesn't change so it's fixed on one price!
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When cities prevent landlords from charging market rents, which of the following are common long-run outcomes? Check all that ap
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Answer:

a. The quality of rental housing units falls

c. The quantity of available rental housing units falls.

Explanation:

As the landlord cannot receive a desired return for their investment they will stop improving and doing proper maintenance of the property to obtain it.

They will also be less likely to rent and would prefer to sale and move away from the real-state investment business in the region to more profitable region or better business. This will make the ernt go up as there is less offer as well so the policy backfires.

Stoping the market to work property will cause market failures and the outcome won't be the desired

7 0
3 years ago
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Answer:

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b. There are differences in the way crime is measured.

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  • The option b is correct as the ways of measuring crimes are different for different regions or places.
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