User Account

All Pages

What is the total amount of interest paid

Assignment Help Financial Accounting
Reference no: EM132902474

It took her 9 more months but Marina has managed to save the full $750 plus more to cover fees to pay off the pay-day loan company. However, she forgot to account for the interest that had been compounding over time on the loan amount. Consider it is now 275 days later, the remaining loan was $750 and the APR is 47% compounded daily.

Problem 1: What is the total amount that Marina must now pay in order to pay off her the loan, accounting for interest?

Problem 2: What is the total amount of interest paid (not including fees)?

Reference no: EM132902474

Questions Cloud

Should MGP make or buy this product : Based on the previous factors, should MGP make or buy this product? Calculate and compare the cost to make vs the cost to buy to help make decision
What is the total of the trial balance : If all of the accounts have normal balances, what is the total of the trial balance? Jelly's Grocery Store showed the account balances at the end of 2020
Create a function called datestamp : You want to create a function called datestamp in that script that finds the date stamp on a given file. How do you declare a function called datestamp in this
Future applications of artificial intelligence in marketing : What is current and future applications of artificial intelligence in marketing? What is the benefits and concerns?
What is the total amount of interest paid : What is the total amount that Marina must now pay in order to pay off her the loan, accounting for interest? What is the total amount of interest paid
What is the manufacturing overhead rate : Direct labor hours for Product 1 is 50,000 and 45,000 for Product 2. What is the manufacturing overhead rate to be used under activity based costing
Explain organizational culture and corporate governance : Critically examine the relationship between organizational culture and corporate governance
Identify slack time of non-critical activities : Discuss in full your critical understandings of the following: Differentiate PERT from CPM.
What are the opportunities that comes with medtronic : What are the opportunities that comes with Medtronic?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What role that security exchange play in the market place

Explain the role that security exchange play in the market place. Why the Future Value of annuity due is always greater than the Future Value

  Why cost of pollution-control equipment was not expensed

Why the cost of the pollution-control equipment was not expensed in 2008. What conditions would have allowed Merton to expense the equipment?

  Record the transactions listed above in general journal form

Record the transactions listed above in general journal form, post relevant portions to the four T-accounts, and balance the four accounts.

  Properly managing its debt

What kinds of problems can this company (or any company) avoid by properly managing its debt?

  What investment apr is

you would like it to become 2 times this investment value in 6 years. Assuming semi-annual compounding, in order to meet this goal, your investment's APR is%.

  What is the revised npv

What is the revised NPV? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places)

  Find the dollar sales that would be required to generate

Find the dollar sales that would be required to generate the same net income as contained in the budgeted income statement for next year.

  How would handle ownership of the assessment

What key elements would you include as part of a fraud risk assessment? Why are these elements critical to success? How would handle ownership of the assessment

  Find what are the projected total operating assets

Find what are the projected total operating assets? Assuming no change in operations from this year to next year, Sales are expected to grow by 14% next year.

  Compute how did the transaction affect shareholders equity

Compute How did the transaction affect shareholders equity? The stockholders' equity section of the December 31, 2019 balance sheet for Sampson Corporation

  What are reporting and disclosure requirements for revenue

There is a new revenue recognition standard,what are the reporting and disclosure requirements for revenue recognition? Provide the suitable example.

  Prepare a adjusting entries-accrued revenues

Using the accrual basis of accounting, explain whether TigrSoft earned revenue of $17,000 as of March 31, 2017.a adjusting journal entry on March 31, 2017.

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