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

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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)

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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...
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