Vincent Pancozzi borrowed $750 on a one-year simple interest loan at 17% interest. The monthly payments were $63.57. Find the amount of interest, amount applied to the principal, and the new balance for the first monthly payment
$10.63, $52.94, $697.06
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Trade allowances include all of the following, except:
A) off-invoice allowance B) exit fees C) trade shows D) slotting fees
Which of the following pension-related definitions is not correct?
A) Vested benefits are payments that are not contingent on the employee's continuing in the service of the employer. B) Present value is the current worth of an amount or amounts payable or receivable in the future. C) Actuarial assumptions are those made by actuaries concerning future events affecting pension costs. D) Service cost is the amount paid annually to a funding agency under an unfunded pension plan.
When Olga asks Sven if he wishes to sell his Harley motorcycle, he replies that he would not sell it "for less than $2,000." Olga replies, "I accept," and hands him $2,000 . A contract exists
a. True b. False Indicate whether the statement is true or false
The amount of net income is transferred from ________ to ________
A) the income statement; the statement of retained earnings B) the balance sheet; the statement of cash flows C) the balance sheet; the income statement D) the income statement; the statement of expenditures