Debt payment to income ratio - $360 / $2,400 = 0.15 or 15%. 3. Dave borrowed $500 for one year and paid $50 in interest. The bank charged him $5 service charge. A- What is the finance charge on this loan?
The plan anticipates earning9% interest. How much will your annual benefits be?-8043 After 20 years, 100 shares of stock originally purchased for $1,000 was sold for $5,000. What was the annual yield on the investment? Choose the closest answer. -8.38% Mr. Blochirt is creating a university investment fund for his daughter.
Show your work. d. Find the number of minutes that she went over the time that the plan allows. Answer: she went over 64 minutes M= over minutes 45+ __M 45+ .15M 54.60= 45+.15M 54.60- (45) = 45- (45) +.15M Which equals 9.6= .15M 9.6/ (.15) = .15M/ (.15) That changes into 64= M. (5 points) |Score | | | 3. Lori wants to deposit money into a bank account that earns 3.5% simple annual interest. Use the formula to find the amount of money that she should deposit so that she earns $7000 in interest after 5 years.
They purchased the house in 1998 and their basis today is $400,000. The fair market value of the house is $500,000. The house is subject to a 25-year, $250,000 mortgage. * B.Arnold is to continue making payments on the house until it is fully paid off. In 2011, Arnold made payments totaling $18,000.
Part (b) Calculate the seasonal forecast of sales for February of Year 3. Part (c) Which forecast do you think is most accurate and why? 11. Question : (TCO 6) Davis Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project A Project B Initial Investment $800,000 $650,000 Annual Net Income $50,000 45,000 Annual Cash Inflow $220,000 $200,000 Salvage Value $0 $0 Estimated Useful Life 5 years 4 years The company requires a 10% rate of return on all new investments.
During the current year, Bruce bought inventory costing $52,000 and then sold it to Luffman for $80,000. At year-end, all of the merchandise had been sold by Luffman to other customers. What amount of unrealized inter-company profit must be deferred by Luffman? | | | Student Answer: | | $0 | | | | $8,400 | | | | $28,000 | | | | $52,000 | | | | $80,000 | | | | Points Received: | 2 of 2 | | Comments: | | | | 4. | Question : | (TCO 1) A company should always use the equity method to account for an investment if | | | Student Answer: | | It has the ability to exercise significant influence over the operating policies of the investee | | | | It owns 30% of another company's stock | | | | It has a
Calculate the amount of employee taxes withheld and prepare the company's journal entry to accrue the January salaries expense and withholding of January taxes. Answer: Salaries Expense | 8,000 | | FICA–Social Security Taxes Payable ($8,000 x .062) | | 496 | FICA–Medicare Taxes Payable ($8,000 x .0145) | | 116 | Employees' Federal Income Taxes Payable ($8,000 x .15) | | 1,200 | Accrued Payroll Payable | | 6,188 | 11. On December 1, 2007 Gates Company borrowed $45,000 cash from FirstBank on a 90-day, 9% note payable. a. Prepare Gate's general journal entry to record the issuance of the note payable.
I’m a stay at home mom of two little girls under the age of 2. I work about 15 hours per week for a National Medical Benefits Company. I have been with the company for only 4 months and am now making over $2000 a month! I started off making about $400 my first month, $800 my second and now I am up over $2000. With this company you do make residual income so your income increased each month!
Even if a student works during college and over the summer, it isn’t unusual to “accrue $5,000 in loans after four years – loans that he[/she] must start to repay within one year after graduation” (Zinsser 469). With this debt to pay off, a college graduate is already behind as he/she starts a life in the real world. Thus, due to the economic pressure college students are currently facing, they may be more motivated to achieve higher, since “they know that entrance into the better schools will be an entrance into the better law firms and better medical practices where they will make a lot of money” (Zinsser 468). Students would feel a stronger drive to achieve more and higher in spite of the likely debt they may inherit. Economic pressure would push them that extra mile to attain their goals with the understanding that they must compensate for the likely debt they may acquire.
“This year, tuition and fees at Harvard are close to $52,000, including room and board, a price that has increased at about 5 percent annually during the past 20 years, well above the estimated 2.8 percent annualized increase in the consumer-price index, one gauge of inflation,” (Cohan) the cost of living on campus is increasing every year with no end in sight. So for those who don’t qualify for scholarships to help cover cost and have to take out loans for the whole cost of school thing wisely. After you graduate from college you will have loan payments monthly for years just like a car or house payment pending on the total amount of the loan, so living at home is going to save you big