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Genrish500 [490]
1 year ago
5

Total interest paid on a 30-year straight note was $230,000 during the term of the loan. The annual interest rate was 6.6%. What

was the loan amount?
Business
1 answer:
dsp731 year ago
3 0

Answer:

$116,161.616

Explanation:

Given that,

Total interest paid = $230,000

Time period = 30 year

Annual interest rate = 6.6%

Total interest on loan = Loan amount × Interest rate × Time period

$230,000 = Loan amount × 6.6% × 30 years

Loan amount:

=\frac{230,000}{0.066\times 30}

=\frac{230,000}{1.98}

      = $116,161.616

Therefore, the loan amount is $116,161.616.

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If a check correctly written and paid by the bank for $648 is incorrectly recorded on the company's books for $684, the appropri
yawa3891 [41]

Answer:

add $36 to the book's balance.

Explanation:

Since in the question it is given that the check amount is $648 which is to be paid by the bank is recorded incorrectly in the company books for $684

So the difference of $36 would be added to the company book balance and no adjustment would be made in the bank balance

This addition would balance the both book balance and the bank balance.

7 0
1 year ago
29. Maxwell is trying to decide whether to accept a salary of $60,000 or a salary of $25,000 plus a bonus of 20% of net income a
Akimi4 [234]

Answer:

Maxwell world consider choice equal to $310000

Explanation:

given data

accept a salary = $60,000

salary = $25,000

bonus = 20% of net income

to find out

amount of income would be necessary so that Maxwell would consider

solution

we get here income by bonus that is express as

bonus = 2 ( income - bonus - salary )   ..............1

3500 = 2 ( income - ( 0.2 × 35000 ) - ( 0.2 × (75000 + 35000) )

solve it we get

income = $310000

so Maxwell world consider choice equal to $310000

3 0
2 years ago
In the general environment, many relationships exist among the various elements. General environmental trends can have positive
Advocard [28]

Answer: positive, negative, demographic.

Explanation:

The general environment is the bigger environment within where the task environment is enclosed. The general environment is made up of six segments which are the sociocultural, technological, demographic, political/legal, economic, and global forces.

Demographic forces are results of changes in the attributes of a population, like race, gender, age, ethnic origin, social class and sexual orientation. Demographic forces have a major implications for an economy. .

The aging of the population has a positive impact on the health care industry as there will be need to keep the healthcare industry in a good condition and provide necessary amenities for the aging population. This will therefore lead to a negative impact on the baby product industry as there will be lesser demand for baby products since there are older people in the country.

7 0
2 years ago
Which of the following is NOT a characteristic of a confined space?
Arisa [49]
I think is the letter D
8 0
2 years ago
Maria, age 28, wants to pay no more than $300 a year in life insurance. What is the face value of the largest 20-year term polic
VMariaS [17]

Answer:

Explanation:

Net Cost of Life Insurance Premium : Life insurance policy entails Premium to be paid by the insured at a monthly / quarterly interval. insured often gets dividend from the insurance company and in that case, the net cost of premium will be low

The 20 years premium can be calculated with Annual Premium which is not given in the question, therefore i will solve for all the option but please pick the answer that the Annual premium is with you

a)   20 years premium = Annual Premium x Number of years

                                     = 11700 x 20

                                    = 234,000

b)   20 years premium = Annual Premium x Number of years

                                     = 7900 x 20

                                    = 158,000

c)  20 years premium = Annual Premium x Number of years

                                     = 550 x 20

                                    = 11,000

d)  20 years premium = Annual Premium x Number of years

                                     = 28350 x 20

                                    = 567,000

7 0
1 year ago
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