This is a simple interest problem. We are going to use the formula:
Where I is the interest she has to pay for her loan, P is the amount she financed, r is the interest rate (in decimal), and t is the number of years.
Replace the values to get:
Now that we have the interest she paid, we just need to add them to the value she paid to get the total cost she paid:
We can conclude that the total cost of the car that she financed will be $21,077.46
Answer:
Profit, $35,000
Explanation:
Economic profit or loss is defined as the difference among the revenue received from the output sale and the input costs and any kind of opportunity costs.
While computing the economic profit, the explicit as well as opportunity cost will be deducted or subtracted from the earned revenues.
So, in this case, Economic Profit or loss is computed as:
Economic Profit or loss = Costs - Revenue
where
Costs involve
= $32,000 + $408,000 + $23,000 + $32,000
= $495,000
Revenue is $460,000
Therefore,
Economic profit = $495,000 - $460,000
= $35,000
The adjusting entry to record revenue for services the seller has performed but not yet collected requires: A debit to Accounts Receivable and credit to Service Revenue.
<h3>Journal entry</h3>
The appropriate journal entry the record revenue for services the seller has rendered but not yet collected will includes debiting account receivable and crediting service revenue.
Adjusting journal entry
Debit Accounts Receivable
Credit Service Revenue
Inconclusion the adjusting entry to record revenue for services the seller has performed but not yet collected requires: A debit to Accounts Receivable and credit to Service Revenue.
Learn more about journal entry here:brainly.com/question/14279491
Answer:
The answer is: TRUE
Explanation:
Logrolling refers to the trading of favors, or quid pro quo, usually carried out by legislators (representatives, senators, city council members, etc.) for mutual political gain by voting for each other's proposed bills or amendments.
Different sectors of political or even political parties themselves (other countries usually have more than two political parties) use logrolling to promote each other's agendas
