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Arlecino [84]
2 years ago
6

On a loan of $32,000 at 7% interest for 6 months, how much do you wind up paying to pay off the loan?.

Business
1 answer:
RideAnS [48]2 years ago
8 0

The amount to be paid at the end of the loan period will be $33,120. The rate of interest on the loan is given as per annum and hence the interest is to be calculated for 6 months.

<h3>Calculation of settlement amount of loan:</h3>

Given:

\rm Principal &= \$32,000\\\\Rate &= 7\%\:per\:annum\\\\Tenure = 6\:months

Interest is calculated from the following formula:

\rm Interest = Principal\times Rate \times Tenure

Hence the interest for the loan will be:

\begin{aligned}\rm Interest &= \$32,000\times 7\% \times 6\: months\\\\&= 32,000 \times \dfrac{7}{100}\times \dfrac{6}{12}\\\\&= \$1,120\end

The final payment for the loan will be the combination of principal and interest.

Therefore final payment = $32,000 +$1,120

                                        = $33,120

Learn more about the topic here:

brainly.com/question/2284847

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3 years ago
Successful marketing focuses solely on selling more products. continues long after the product is purchased. ends once the produ
PSYCHO15rus [73]

<u>Answer:</u>

<em>The most effective marketing strategies are those that are targeted toward a specific audience.</em>

<u>Explanation:</u>

The most effective marketing strategies are those that are targeted toward a specific audience,focused on key benefits based on the audience's point of view and interests, and delivered at an appropriate time, when the audience is most likely to be attentive to and interested in the message being delivered.

Successful marketing focuses solely on selling more products. continues long after the product is purchased. ends once the product is sold to consumers. includes preproduction through selling the product.

6 0
3 years ago
Assume the world market for oil is competitive and that the marginal cost of producing​ (extracting and bringing to​ market) ano
xz_007 [3.2K]

Answer:

The economic surplus will decrease by $2.20

Explanation:

$81.40 and $79.20 are <em>marginal </em>cost and benefit, which are the changes to total costs and total benefits due to producing and consuming one additional barrel of oil.

They can be used to calculate <em>change </em>to economic surplus, which is the change to the net economic value received by society, which is given by:

marginal benefit - marginal cost = $79.20 - $81.40 = - $2.20

7 0
3 years ago
On January 1, 2018, Race Corp. acquired 80% of the voting common stock of Gallow Inc. During the year, Race sold to Gallow for $
harkovskaia [24]

Answer:

net income attributable to the non controlling interest is $40800

Explanation:

Given data

Race sold = $450000

cost = $330000

owned = 15%

net income = $204000

Race net income = $806000

to find out

net income attributable to the non controlling interest

solution

we find the non controlling interest

so we apply formula for non controlling interest that is

non controlling interest of income = net income × (100%  - 80%)

put here value of net income

non controlling interest of income = net income × (20%)

non controlling interest of income = 204000 × (20%)

non controlling interest of income = 40800

so net income attributable to the non controlling interest is $40800

8 0
3 years ago
State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash fl
Ivanshal [37]

Answer:

    Effect of Transaction on Cash Flows

     Effects                     Amount

1.   Cash Payment         $239,000

2.  Cash Receipt           $252,000 (12000*$21)

3.  Cash Receipt           $91,400

4.  Cash Payment         $491,000

5.  Cash Payment         $86,000

6.  Cash Receipt           $188,100 (190,000*0.99)

7.  Cash Payment         $353,400 (6,200*$57)

8.  Cash Payment         $36,100 [1.90*(23,000-4,000)]

5 0
3 years ago
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