Bought delivery van P850,000 terms 20% down and the balance payable in one year. Required: 1. Record the transaction in the general journal.
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Bought delivery van P850,000 terms 20% down and the balance payable in one
year.
Required: 1. Record the transaction in the general journal.
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- One of your customers has just made a purchase in the amount of $28,000. You have agreed to payments of $590per month and will charge a monthly interest rate of 1.44 percent. How many months will it take for the account to bepaid off?Multiple Choicea. 75.08 monthsB. 86.63 months C. 80.44 monthsD. 47.46 monthsE. 36.43 monthsFind the amount of each instalment in the hire purchase agreement summarized in the following table. [ Answer correct to the nearest cent] Selling Price Deposit Rate Years InstalmentPayablea. $600 $150 5% 3 monthlyb. $520 $20 8% 6 weeklyA5. URGENT PLEASE Determine the monthly payment that must be made, as well as the financial run, to acquire a Nissan March car on credit. List Price: $238,900 Down payment: $11,945 Amount to be financed: $226,955 Monthly payment: Annual interest rate r%; 14.65% Monthly interest rate i%; 1.22% Number of periods; 72 months.
- Quarterly payments of $3,000 are required on an $80,000 loan at 8.0% compounded quarterly. (Round your answers to 2 declmal places.) a. Calculate the interest component of Payment 30. Interest component of Payment 30 $4 oints b. Calculate the principal component of Payment 9. Principal component of Payment 9 eBook c. Calculate the final payment. Final payment Print References raw connect WHow much should be recorded as the purchase price of theindividual PPE items: 2. Paid cash of P200,000 and issued a note for the purchase ofa machinery. The note has a face value of P1,000,000 dueafter three years and an effective interest rate of 7%.Consider a credit card with a balance of $7000. You wish to pay off the credit card in each scenario. Calculate the following. Round your answer to the nearest cent, if necessary.a. The amount of a monthly payment within the time frame givenb. The total amount paid over the time period12. APR of 17.99% paid off within 1 year APR of 24% paid off within 3 years
- Course: UNIV University of the People Borrowing Your business requests a 3-month loan for $500,000. What will be the interest paid at the end of the term if the business risk percentage is assessed at 2.2% and LIBOR is at 2.8%? interest paid = $ [ ? ] Round to the nearest hundredth. Enter right 2003-2021 Acellus Corporation. All Rights Reserved. MacBook 80 888 DL 74 F8 &A car dealership offers car loan for purchasing a type of truck. The interest on the loan is i12) = 1.5%. The loan is paid back by monthly level payment of 1243.40 each for 3 years with the first payment one month after the loan is made. 1. Find the loan L. 2. Find the amount of interest in the 20th payment, and fill out the following table Payments PR OB 19 20 21 Enter the loan amount Lin the following blank. Keep two decimal places.A 3 year straight note was executed by a buyer. The interest paid over the term was $3,431.70. The annual interest rate was 9.3%. What was the loan amount? Select one: a. $9,150 b. $36,900 c. $31,915 d. $12,300 Finish attempt...
- Your business requests a 3-month loan for $500,000. What will be the interest paid at the end of the term if the business risk percentage is assessed at 2.0% and LIBOR is at 2.1%? interest paid = $[?] Round to the nearest hundredth. Enter right 2003 - 2021 Acellus Corporation. All Rights Reserved. OCT 14 MacBook F1 F2 F3 FA FS.Assume that you start with a balance of $3900 on your credit card.During the first month you charge $400. During the second month you charge $650 and make a payment of $280. Assume that your credit card charges a 29% APR and each month you make the minimum payment of 2.5% of the balance. Complete the following table. Round your answer to the nearest cent. Month 1 Previous balance- $3900 Finance charge- $94.25 Purchase- 400 Payment ?97.50 New balance? Month 2 Previous balance- finance charge- purchase- payments- New balanceTo remodel your business, you need to sign a 190-day note with proceeds of $16,559.57 and a maturity value of $20,000. Find the APR.