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Question - You are in the market for a new, high performance wind surfing board. A dealer offers you financing on the $1,500 you need to buy the board at a "low 10 % annual interest rate "for 24 months. Your payments are determined as follows:
Annual interest = 10% of $1,500 = $150 per year Total due = principal + two years interest
= $1,500 + 2($150)
= $1,800
Monthly Payment = $1,800 / 24 months = $75 per month
This procedure is called "add on" interest. What is the actual annual interest rate being charged on this loan?
GeneralProducts Inc. is incorporated in Nevada, USA on Jan 1st 2013 to take over a local retail chain. Prepare Income Statement and Retained Earnings Statement
Payment for repairs to a newly purchased piece of equipment that was damaged during shipment can also be capitalized as a necessary cost of getting the machinery functional.
The Malbim Company uses a process costing system and adds materials at the beginning. July 1st has 400 units in the beginning inventory (100% materials). The units in beginning inventory (July 1) are only 75% complete on conversion costs-Calculate..
How have software development kits (SDK) influenced software development?
Chicago contractors got $5,400,000 contract to construct a school building for the City of Chicago
What extent do you think that American Apparel has been successful in managing its various social responsibilities? What would you advise it to do now?
Carnival Corporation & plc is one of the largest cruise companies in the world with such well- known brands as Carnival Cruise Lines, Holland America Line, and Princess Cruises.
Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser. Hint: Not all information may be necessary
a 10-year 1000 face value bond sells for 925 and has an 8 annual coupon rate. what is the bonds current yield? what is
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On December 31, 2018 Johnson decides to pay the maximum amount it can in dividends to its shareholders What is the dividend yield ratio?
Salaries are expected to increase indefinitely at 1 per cent per annum. Determine the total accumulated long-service leave benefit as at 30 June 2020
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