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VladimirAG [237]

1 year ago

10

Scott Peter’s bank granted him a single-payment loan of $3,250 to pay a repair bill. He agreed to repay the loan in 31 days at a

n exact interest rate of 11.75%. What is the maturity value of the loan?

1 answer:

I am Lyosha [343]1 year ago

3 0

After interest he will pay a total of 3631.88 back to the bank
hope this helps<span />

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You have decided to renovate your restaurant. You estimate that renovations will result in an extra $125,000 in sales per

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Answer:

13.33 years

Explanation:

The time it takes for an investment to repay its initial investment if the payback period. For an investment project with regular cash flows, the formula for calculating the payback period is ;

Payback period =Initial investment/cash flows

In this case: Initial investment is $2,000,000.00

cash flow= extras sales per year plus saving on utilities

= $125,000 + $25,000= $ 150,000

payback period = $ 2,000,000/ $ 150,000

=13.33 years

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Griffin and Rhodes formed a partnership on January 1, 2009. Griffin contributed cash of $120,000 and Rhodes contributed land wit

Tresset [83]

Answer:

correct option is B. $15,000

Explanation:

given data

contributed cash = $120,000

Fair Value of land = $160,000

originally paid = $90,000

Sale value of land = $190,000

to find out

how much of the gain from sale of land should be credited to Griffin for financial accounting purposes

solution

gain on sale is here as

gain on sale = Sale value of land - Fair Value of land -

Gain on sale of land = $190,000 - $160,000

Gain on sale of land = $30000

split the $30000 between the equal partners for a total gain credited to Griffin

total gain credited to Griffin = $15000

so correct option is B. $15,000

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