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Oksi-84 [34.3K]
2 years ago
5

The following table shows a portion of a three-year amortization schedule. A 3-year amortization schedule. The loan amount or pr

incipal is 11,940 dollars and the interest rate is 7. 45 percent. At 24 months, the monthly payment is 371 dollars and 13 cents, the principal paid is 342 dollars and 44 cents, the interest paid is 28 dollars and 69 cents, and the balance is 4,278 dollars and 98 cents. After two years, how much has been paid into interest? a. $4,628. 14 b. $1,246. 10 c. $978. 96 d. $1,912. 5.
Business
1 answer:
larisa [96]2 years ago
5 0

The correct statement is that at the end of two years a total interest of 1246.10 has been paid  on a principal of $11940, where the interest rate is 7.45 percent. So, the correct option is B.

The calculation on monthly payment of interest can be done by ascertainment of the interest paid for two years and division of such amount by total number of months.

<h3>Calculation of Monthly Payment</h3>

We know that the interest to be paid for the first year will be close to $902 and that for the second year will be calculated as follows,

\rm Interest for\ Second\ Year= Monthly\ Payment\ x\ 12\\\\\rm Interest for\ Second\ Year= 28.69\ x\ 12\\\\\rm Interest for\ Second\ Year= \$344.28

So, the total interest paid at the end of the second year will be,

\rm Total\ Interest\ for\ Two\ Years= Interest\ for\ One\ Year+ Interest\ for\ Second\ Year\\\\\rm Total\ Interest\ for\ Two\ Years= 902+344.10\\\\\rm Total\ Interest\ for\ Two\ Years= \$1246.10

So, the total interest paid fully at the end of two years will be $1246.10

Hence, the correct option is B that the  total interest of 1246.10 has been paid  on a principal of $11940 at the end of two years upon monthly payments of such years.

Learn more about monthly payment here:

brainly.com/question/22891559

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Sample T-Shirt Company, INC. needs help with their profit loss statement for their fourth quarter which lasts between October 1s
vfiekz [6]

The preparation of the fourth quarter, October 1st to December 31st profit and loss statement for T-Shirt Company, INC., is as follows:

T-Shirt Company, INC.

<h3>Profit and Loss Statement</h3>

For the fourth quarter ended December 31

Sales revenue                        $286,400

Cost of goods sold                   (42,960)

Gross profit                            $243,440

Rental income                              1,800

Total income                         $245,240

Expenses:

Freight-out              $45,824

Salaries                     60,000

Insurance Expense        150

Advertising expense 2,950  (108,924)

Income before taxes             $136,316

Income tax rate (15%)              20,447

Net income                         $115,869

<h3>What is the profit and loss statement?</h3>

The profit and loss statement also known as the income statement is a periodic financial statement that summarizes the revenues, costs, and expenses for the specified period.

The statement is used to determine the profit or loss during the stated period.

<h3>Data and Calculations:</h3>

Number of shirts sold = 14,320

Selling price per t-shirt = $20

Sales revenue = $286,400 (14,320 x $20)

Product cost per t-shirt = $3

Cost of goods sold = $42,960 ($3 x 14,320)

Freight-out to customers = $45,824 ($4 x 14,320 x 80%)

Salaries Expense of employees for the quarter = $60,000 ($80,000 x 3 x 1/4)

General Liability Insurance Expense = $150 ($600/4)

Rental income for the quarter = $1,800 ($600 x 3)

Web = $900 ($300 x 3)

Print = $400 ($200 x 3)

Television = $1,500 ($500 x 3)

Advertising expense = $2,950

Income tax rate = 15%

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2 years ago
Which of the following demonstrates the ability to accept constructive criticism well?
VMariaS [17]

Answer:

Making eye contact with the speaker and showing positive body language

Explanation:

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3 years ago
Where should you explain the factors that led you to submit an unsolicited proposal, such as conversations with members of the r
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Solicited business proposals are executed in reaction to a purchaser's want, at the same time as unsolicited proposals are used to market it to capacity customers.

It is an internal suggestion due to the fact it's miles from a worker in the organization. And unsolicited due to the fact this is an idea that became an independent idea up and the employee now desires to endorse this idea to the top of the employer.

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1 year ago
Which general staff member directs all responses and tactical actions to achieve the incident?.
ch4aika [34]

The Operations Section Chief directs all responses and tactical actions to achieve the incident objectives.

<h3>What is Operations Section Chief ?</h3>

The Operations Section Chief, a member of the General Staff, is in charge of all operations directly related to the core mission. The Operations Section Chief initiates, supervises, and leads the execution of organizational elements in accordance with the Incident Action Plan.

The Operations Section Chief directs tactical incident activities to achieve incident objectives and oversees the implementation of the Incident Action Plan (IAP). 1. This role can be ordered as a stand-alone resource or as part of a National Incident Management System (NIMS) team (Incident Management Team).

The OSC1 works in the Operations functional area and reports to the Incident Commander (IC). The OSC1 performs duties corresponding with the Type 1 incident complexity and characteristics outlined in the Interagency Standards for Fire and Firefighting.

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2 years ago
A call option on Barry Enterprises stock has a market price of $12. The stock sells for $23 a share, and the option has an exerc
tresset_1 [31]

Answer:

the exercise value of the option is $5.50

Explanation:

The computation of the exercise value of the option is given below:

= Sale value of the stock - exercise price of the option

= $23 - $17.50

= $5.50

Hence, the exercise value of the option is $5.50

Simply we deduct the exercise price of the option from the sale value of the option

And, the same should be considered

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