Answer:
18.65%
Explanation:
Cost = $12,300
Total Payment = $420 × 36
= $15,120
Difference in the cost and payment = $15,120 - $12,300 = $2,820
Interest rate is the ratio of the interest to the original cost of the item.
The interest is the difference between the amount paid and the actual cost.
Interest rate = ($2,820/$15,120) × 100%
= 18.65%
Answer:
Explanation:
For this case the total payment is $320000, and she pays $40000 so the remain amount to pay would be:
$320000-40000=$ 280000
For this case we assume that the annual interest rate is APR=5.7% =0.057 on fraction.
The total number of years are 20. For this case n represent the number of payments per year and since we have monthly payments then n =12.
In order to find the PMT we can use the following formula:
![PMT= \frac{P(\frac{APR}{n})}{[1-(1+\frac{APR}{n})^{-nt}]}](https://tex.z-dn.net/?f=%20PMT%3D%20%5Cfrac%7BP%28%5Cfrac%7BAPR%7D%7Bn%7D%29%7D%7B%5B1-%281%2B%5Cfrac%7BAPR%7D%7Bn%7D%29%5E%7B-nt%7D%5D%7D)
On the last expression the APR needs to be on fraction and P represent the principal amount, for this case P = $280000. So if we replace we got:
![PMT= \frac{280000(\frac{0.057}{12})}{[1-(1+\frac{0.057}{12})^{-12*20}]}](https://tex.z-dn.net/?f=%20PMT%3D%20%5Cfrac%7B280000%28%5Cfrac%7B0.057%7D%7B12%7D%29%7D%7B%5B1-%281%2B%5Cfrac%7B0.057%7D%7B12%7D%29%5E%7B-12%2A20%7D%5D%7D)
And we can verify this using the following excel function: "=PMT(0.057/12,12*20,-280000)"
Answer:
The correct option is (d)
Explanation:
Ethics is considered above law as law requires just compliance of laws, rules and regulations. Ethics on the other hand establishes a standard of moral conduct. Being mere legal does not mean that something is ethical. Ethical responsibilities are not codified as it is expected from businesses to follow the same.
Here, Marshall, though complied with legal frameworks, he failed to fulfill his ethical obligations by using low-grade products that could harm the general public in future.
Answer:
Trial Balance
Account <u> DEBIT CREDIT </u>
Cash 6,416** -
Account Receivable
Prepaid Insurance 2,400 -
Supplies 910
Equipment 33800
Common Stock 40600*
photography fees 3631
utilities expense <u> 705 </u>
TOTAL 44,231 44,231
Explanation:
*Common stock:
6,800 cash + 33,800 equipment = 40,600 total investment
**to calculate cash we need to do a T account
CASH
<u>DEBIT CREDIT </u>
6800
2400
910
3631
<u> 705 </u>
10,431 4,015
BAL: 6,416
The rest of the account are just used once so we do't have to do T-accounts to keep track of them
Answer:
350
Explanation:
Add 9000 + 200 = 9200
Then you do 9550 - 9200 = 350
