The Desai Company just borrowed $1,000,000 for 3 years at a quoted rate of 8 percent, quarterly compounding. The loan is to be amortized in end-of-quarter payments over its 3-year life. How much interest (in dollars) will your company have to pay during the second quarter?
a. $15,675.19
b. $18,508.81
c. $21,205.33
d. $24,678.89
e. $28,111.66
b
You might also like to view...
On January 1, Frederic Manufacturing had a beginning balance in Work-in-Process Inventory of $160,000 and a beginning balance in Finished Goods Inventory of $20,000. During the year, Frederic incurred manufacturing costs of $205,000.
During the year, the following transactions occurred: Job C-62 was completed for a total cost of $140,000 and was sold for $158,000. Job C-63 was completed for a total cost of $181,000 and was sold for $213,000. Job C-64 was completed for a total cost $84,000 but was not sold as of year-end. The Manufacturing Overhead account had an unadjusted credit balance of $26,000 and was adjusted to zero at year-end. What was the final balance in the Cost of Goods Sold account? A) $295,000 debit balance B) $347,000 debit balance C) $347,000 credit balance D) $295,000 credit balance
An indemnity is an obligation on the part of a principal to reimburse the agent against any losses incurred when the latter is acting on behalf of the former
Indicate whether the statement is true or false
Which is correct?
a. The novel is set in turn-of-the-century Vienna. b. The novel is set in turn of the century Vienna.
LLC promoters can ‘shake hands' and form an LLC
Indicate whether the statement is true or false