f the following is a loan, identify a) the principal amount, b) the monthly interest rate, and c) the length of the loan in months. Determine if the following situation is an investment or a loan.   If the following is an investment, identify a) if it is a one-time or recurring investment, b) the number of compounding periods per year and c) the total number of compounding periods. If the following is a loan, identify a) the principal amount, b) the monthly interest rate, and c) the length of the loan in months.   Ashtyn purchased new appliances for her house for a total of $5,744. The store she buys the appliances from offers an annual simple interest rate of 8.5% with no down payment and monthly payments for 3 years.

Q: Determine the dollar settlement of the 3 x 6 FRA for the amount $300,000 assuming (a) the settlement…

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Q: What are total finance charges over that three-year period?

A: Finance charges = Total payment made  - Loan amount.

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Completing the Accounting cycle

An accounting cycle is a multiple-step process that analyzes, verify, record and summarize the entities financial data. The accounting cycle starts when the transaction occurs between two parties and ends when the transaction is completed. The accounting cycle changes the entity's financial position as it involves identifying, verifying, and recording the financial transaction in chronological order. Financial position is the summary of business transactions that occurred throughout the particular accounting period. The accounting cycle recurs at the beginning of each financial year.