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Question - A $60,000 loan with an annual interest rate of 10% is scheduled to be paid over three years (36 months).
Step 1: What is the monthly interest rate (in percent up to 4 decimal places)?
Step 2: How much interest expense (in dollars and cents) will incur in the first month with the loan balance at $60,000?
Step 3: Use the formula from the lecture (below) to determine the monthly payment (in dollars and cents). Remember that to use a % in a calculation you need to move the decimal sign left two places.
Step 4: How much (in dollars and cents) of this first monthly payment went to principal?
Step 5: What is the remaining loan balance (in dollars and cents) after the first payment?
Step 6: Watch this video and use an Excel spreadsheet to determine how much interest expense (in dollars and cents) was paid out over the entire loan.
Step 7: How much (in dollars and cents) was paid out total (principal and interest) over the entire loan?
If direct labor for the month is $30,000, overhead is applied based on direct labor, annual overhead is estimated to be $500,000, and annual direct labor is estimated to be $800,000, what is the entry to apply overhead to production?
At 1/1/15, Pirate Company acquired 80 % of Sissy Company for $ 425,000. At that date, the fair value of the 20 % noncontrolling interest was $ 102,500.
Before coming to that conclusion (as stated above), please discuss the principles presented by Modigliani and Miller and explain your agreement or disagreement.
Do you agree with this statement? Explain.
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the hard rock mining company is developing cost formulas for management planning and decision-making purposes. the
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