AC 47 - 15 1 = $2,336.59 per year Queston Answer...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Question: 1. A mortgage for $20,000 is being taken out to finance a solar system. What is theannual payment if the interest rate is 8% and the mortgage term is 15 yrs.? Answer: 1) E = P× r ×(1 + r) n /((1 + r) n - 1) E is EMI Yearly interest = 8% Current EMI = $20,000 x 0.08 x (1.08) 15 / ((1.08)
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 15- 1) = $2,336.59 per year. Queston: Answer: Calculations A B C D E = C x D Quantity Rate Issued Rate Amount Opening 1500 7 5-Mar 3000 8 1000 8 8000 13-Mar 5500 9 5500 9 49500 21-Mar 4000 10 4000 10 40000 26-Mar 2000 11 2000 11 22000 12500 COGS 119500...
View Full Document

{[ snackBarMessage ]}

Sign up to access 24/7 study resources for your classes

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern