User Account

All Pages

What is the total amount that Marina must now pay

Assignment Help Financial Accounting
Reference no: EM132981831

Question - 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.

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 (not including fees)?

Reference no: EM132981831

Questions Cloud

Determine the net present value of the proposed investment : Rabiya, Inc. require a return of at least 14% on investments. Assume an income tax rate of 40%, determine the net present value of the proposed investment
Evaluate the integrative role of enterprise systems : Evaluate the integrative role of enterprise systems in supporting business processes and automating and managing the associated transactions
What is the cost of the equipment : Wildhorse Company incurs the following costs in purchasing equipment: invoice price, $40,900; shipping, $925; What is the cost of the equipment
Record the entries for April : On April 14 and 25, bonds with a face value of $890,000 and $360,000, respectively, were issued at par. Record the entries for April 14, 25, and 30
What is the total amount that Marina must now pay : 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 its cash flow from operations : A net financing outflow of $10,000 and a net increase in the cash balance of $30,000. What is its cash flow from operations
How much will you have in the savings account : If you invest $7,000 into a savings account at an annual interest rate of 9%, compounded continuously, how much will you have in the savings account
Post the transactions into three column ledger accounts : Returned some materials to Chong Printing Bhd due to incorrect specifications, RM2,000. Post the transactions into three column Ledger Accounts
Determine the ending inventory : Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost)

Reviews

Write a Review

Financial Accounting Questions & Answers

  Describe the effect of each of the circumstances

What the issue is and then describe the effect of each of the above circumstances on your auditor's report if management were to refuse to make any change

  Calculate pounds capital in the new partnership

Calculate Pounds capital in the new partnership and journalize the partnership's receipt of the $40,000 from Pound.

  What is book value per share for asm incorporated

It has 1 million common shares outstanding. The replacement cost of its assets is P85 million. Its share price in the market is P49. Its book value per share is

  How credits shipments from home office is required under

The branch of a business enterprise, an elimination that debits Shipments to Branch and credits Shipments from Home Office is required under

  What was the beginning balance in retained earnings

Sam has an ending retained earnings, If Sam paid dividends of $1,000 and incurred a net loss of $3,000, what was the beginning balance in retained earnings?

  Compute cash flows from operations

It also had a $3,000 loss from retirement of notes. Compute cash flows from operations using the indirect method

  How much should the two drawer cabinet be priced

How much should the two drawer cabinet be priced if markup is 50% of cost? How much should the four drawer cabinet be priced if markup is 50% of cost?

  Interest and principal will be repaid on the maturity date

A 1- year, 6%, $30,000 promissory note was signed at the Citizens National Bank. Interest and principal will be repaid on the maturity date of Feb 1, 2014 _This is for the month of Feb 2013 -Im trying to figure out the amount. Cash: ? Note..

  Estimate the annual depreciation and the tax expenses

Using the financial and qualitative information provided in the case, estimate the annual depreciation and the tax expenses on selling the equipment in Year 4.

  How much was the receivable from the highest bidder

Received subscription from Sioson for 20,000 shares at 30 per share, How much was the receivable from the highest bidder

  What the projected benefit obligation at December

On January 1, 20X4, the projected benefit obligation for Reason Corporation was $440,000. What the projected benefit obligation at December

  What is the effective? after-tax cost of debt for one year

What is the effective? after-tax cost of debt for one year for a U.S.? dollar-based company if the exchange rate at the end of the period? was?

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