User Account

All Pages

Find the loan payoff amount

Assignment Help Financial Accounting
Reference no: EM132864957

Question 1: Barbara finances a sports car for $27,100 by taking out an installment loan for 36 months. The payments were $978.61 per month and the total finance charge was $8129.96. After 22 months, Barbara decided to pay off the loan. Use Rule of 78 to find the loan payoff amount.

Reference no: EM132864957

Questions Cloud

How much will he have to save each month : If he can earn a 11 percent EAR before he retires and a 7 percent EAR after he retires, how much will he have to save each month in years 21 through 30
Formulating a corporate strategy : What are the three dimensions that executives must decide when formulating a corporate strategy?
What is new balance for chris : One June 9, Chris made a payment of $800, and on June 17 he borrowed $5600. If the current prime rate is 10%, what is his new balance?
What amount is recorded for net investment : The lease requires annual fixed rental payments of $ 7, 000 per year beginning on January? 1, 2019, What amount is recorded for net investment
Find the loan payoff amount : The total finance charge was $8129.96. After 22 months, Barbara decided to pay off the loan. Use Rule of 78 to find the loan payoff amount.
What is cultural intelligence : What is cultural intelligence and its relevance to global leadership?
What is van total obligations ratio : What is Van's total obligations ratio? Van Nguyen earns a gross income of $2960 per month. She has applied for a mortgage with a monthly PITI of $596.20.
What is the principal balance in the Net Investment : What is the principal balance in the Net Investment in Lease long - Sale type account after the first? payment
What is leadership aspiration : Respond to the following questions and complete the development planning template as yourself. Write in paragraphs.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Describe disadvantage to using a credit card instead of cash

Describes a disadvantage to using a credit card instead of cash? Interest charges can be associated with credit cards. / You cannot overspend when using credit

  What ratios and expected relationships might be used

What ratios and expected relationships might be used when performing preliminary analytical procedures related to long-lived assets?

  Calculate the net present value and internal rate of return

BUACC3701: Financial Management - Evaluate the alternative capital investments. You will need to calculate the net present value, internal rate of return and payback period for each alternative.

  Worlds journal entry to record collection on maturity date

Jax Recording Studio purchased $7,800 in electronic components from Music World. Jax signed a 60-day, 8% promissory note for $7,800. Music World's journal entry to record the collection on the maturity date is:

  When travel combined business and pleasures

When travel combined business and pleasures:

  Demonstrate using separate equations

Demonstrate using separate equations for MOS% and DOL that MOS% and DOL are functionally related. Spherically show that MOS%=1 / DOL

  Determine the book value of the division assets

Determine the book value of the division's assets on December 31, 2021. On September 17, 2021, Ziltech, Inc., entered into an agreement to sell

  Prepare the consolidation elimination journal entry for year

The following account balances existed at 30 June 2020, Prepare the consolidation elimination journal entry for the year ending 30 June 2020.

  Gain or loss on disposition be reported on income statement

Perfect Auto Rentals sold one of its cars on January 1, 2013. Perfect had acquired the car on January 1, 2011, for $23,400. At acquisition Perfect assumed that the car would have an estimated life of three years and a residual value of $3,000 . Prepa..

  Accept or reject a new product line-compute net cash inflow

Based on the decision criteria below, should the proposed project be accepted or rejected? Why or why not? As accountants, you must do a Net present Value analysis, and make a recommendation to management. Compute the net cash inflow (cash receipts l..

  Earned after taxes subsequent to date of the agreement

Ace Inc. produces electronic components for sale to manufacturers of radios, television sets, and digital sound systems. A 10-year loan agreement, which the company entered into 3 years ago, provides that dividend payments may not exceed net income e..

  How do construct december journal entry to record adjustment

Novak Corp. had net sales in 2020 of $2.2 million. Make the December 31, 2020 journal entry to record the adjustment to Allowance for Doubtful Accounts.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd