Answer:
Please find attached file for complete answer solution and explanation of same question.
Explanation:
The correct statement is that the monthly payment of a loan of $3000 will be $104.11. The calculations obtained are not relevant with the options of the statement quoted above.
The calculations can be done by applying the values to the formula of compounded interest and then further multiplying the values obtained with the number of monthly payments.
<h3>Calculation of Compounded Monthly Payments </h3>
- The formula to calculate compound interest is as below.
- The values obtained will now be derived into the following formula,
So, it is clear that the compounded monthly payments will be $104.11.
Hence, the monthly payment of loan for 36 months will be $104.11 which will be paid monthly at the rate of 7.5%.
To know more about Compounded payments, click the link below.
brainly.com/question/8441564
Answer:
B. $2,000
Explanation:
The principal amount is $100,000
Interest rate is 8% usually per year ( 12 months)
Loan duration, three months:
Annual interest = $100,000.00 x 8%
=$100,000.00x 0.08
=$ 8000.00
Interest for 3 months
=3/12x$8000.00
=0.25x$8000.00
=$2000
Answer:
The target is a re-seller
McGraw-Hill is a manufacturer
Explanation:
Purchasing Purell antibacterial soap from a target is re-seller, meaning the target is neither the producer nor the distributor of products but haven given name of such company like McGraw-Hill, one will know that McGraw-Hill is major publisher of books and their books are well local high school around the world. This makes the local high school that might bought from McGraw-Hill buying from a manufacturer
Answer:
The correct answer is debit accounts receivable, credit cash.
Explanation:
Note debit is a receipt that a company sends to its client, in which it is notified that it has charged or debited a certain sum or value in its account, for the concept indicated in the same note. This document increases the value of the debt or account balance, whether due to an error in billing, interest for late payment, or any other circumstance that means an increase in the balance of an account.
