Correct option is: $12000 | ||||
Borrowed Amount | = | $ 1,00,000 | ||
Interest rate | = | 12% | ||
Interest expense | = | $100000 X 12% | ||
= | $ 12,000 | |||
If a business borrows $100,000 for one year at an interest rate of 12 percent, the...
Sol Pine borrows $6,500 for one year at 8 percent interest. What is the effective rate of interest if the loan is discounted? (Do not round intermediate calculations. Use a 360-day year. Input your answer as a percent rounded to 2 decimal places.)
Question 6 Not yet answered On February 9, 2020, Grove Industries purchased office supplies on account from Markus Brothers Stationery Store. How is this entry recorded in the journal? Marked out of 1.00 Flag Cuestion Select one: O a. debit to Office Supplies and credit to Accounts Payable O b. debit to Office Supplies and credit to Cash O c. debit to Supplies Expense and credit to Accounts Receivable O d. debit to Accounts Receivable and credit to Office Supplies...
Question 1 What is the future value in 30 years of $100,000 invested today in a savings account earning a 1% compound interest rate every year (rounded up to the nearest dollar)? Not yet answered Marked out of 1.00 Select one: Flag question O a. 130000 O b. 134785 O c. 30000 O d. More than $134785 Question 2 Not yet answered The revenue recognition principle and the matching principle are used in what accounting method? Marked out of 1.00...
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Question 1 What nominal Interest rate compounded semi-annually is equivalent to 1397 Not complete Marked out of 1.00 question Select one: a. 13.86% . b. 13.41% O c. 12.60% O d. 14.34% Save response Question 2 Not complete duto 1.00 A company has a loan that is due on December 30, 2019. At that time they are required to pay $20,000. What was the original amount of the loan if it was taken out on September 30, 2017 at 12%?...
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what's the difference between overhead rate and charge?
Question 2 Nadia, JOhn, Saba and Kumar are working together on a project. These are the data for each: Answer saved Nadia: 60 hours, overhead rate 75%, personal time 1096, $41/hr JOhn: 80 hours, overhead rate 55%, personal time 1296, $31/hr Saba: 80 hours, overhead rate 75%, personal time 1096, $26/hr Kumar: 40 hours, overhead rate 55%, personal time 1296, S36/hr Marked out of 1.00 Flag question Who has the highest direct...
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SU2020 Saved A local finance company quotes a 13 percent interest rate on one-year loans. So, if you borrow $30,000, the interest for the year will be $3,900. Because you must repay a total of $33,900 in one year, the finance company requires you to pay $33,900/12, or $2,825.00 per month over the next 12 months. a. What rate would legally have to be quoted? b. What is the effective annual rate? < Prev 17 of 40 *
Bond Interest Expense Evans & Sons, Inc., sold $100,000 face value, six percent coupon rate, four-year bonds, for an aggregate issue price of $95,000. Calculate the total interest expense to be recorded by the company over the four-year life of the bonds.