Provides a loan at the rate of interest is 8% per annum.
<h3>What is a Rate of Interest?</h3>
The interest rate is the amount charged on top of the principal by a lender to a borrower for the use of assets generally chargeable on year bases.
Given,
Loan Amount = $12,000
Instalment payment = $1401.95
Time period = 15 years
Required to calculate Rate of Interest
The calculation of the Rate of Interest is shown in the image given below:
Thus, we get an 8% rate of interest after calculating the above figure. gives a loan of 8% per annum.
Learn more about the Rate of Interest here:
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Answer:
Autocratic
Explanation:
In business, Autocratic form of leaderships is a form of leaderships that require the employees to follow every orders from the leader to the letters.
The leaders will determine the goals that each members need to achieve within a specific time period. They also will provide with a detailed procedure that the employees need to follow to achieve the goals. Employees generally do not have any freedom to choose their working style within Autocratic leaderships.
Answer:
The amount of effective interest expense that chaco will record in the first six months is $14,375
Explanation:
interest payment that will be first made is on June 30, Year 1. Therefore, the outstanding balance used in the calculation is the issue price.
The interest expense is calculated by these formula
Interest expense = Effective semiannual interest rate × Outstanding balance
Interest expense = (8% ÷ 2) × $359,378 = $14,375
So the interest expense is gotten as %14,375
Answer: completed in the period
Explanation:
Job order costing system refers to the system when small batches of the products are ordered by the customers. It is useful in knowing the cost that's used in the manufacturing of each product.
It's usually used when different products are being produced and the cost for each individual job need to be calculated. Under a job-order costing system, the dollar amount transferred from Work in Process to the finished goods will be the sum of the costs that's charged to all jobs that are completed in the period.
Answer:
B) Pre-Tax
Explanation:
The income statement refers to the statement in which the all expenses are deducted from the revenue so that the operating income could come i.e. EBIT
For the value that disclosed above the operating income would be pre tax as after the EBIT, the income tax expense, the interest expense should be deducted to find out the Profit after tax
So in this situation, the option B is correct
