Going Places Adventure Travel signed a 14%, 10-year note for $152,000. The company paid an installment of $2,200 for the first month. After the first payment, what is the principal balance? (Round your answer to the nearest whole number.)
A) $149,800
B) $150,227
C) $151,573
D) $154,200
C .Interest Expense for 1 month $152,000 x 14% x (1/12 ) $1,773
Total payment 2,200
Principal amount ($2,200 - $1,773 ) $427
Principal balance ($152,000 — 427 ) $151,573
Business
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Brevard Manufacturer produces flooring material. The monthly fixed costs are $10,000 per month. The unit sales price is $75, and variable cost per unit is $35. How many units should Brevard sell in order to earn $10,000 as operating income?
What will be an ideal response
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If an advertisement costs $200,000, the number of viewers is 2,000,000, and the rating is 2.0, then the cost per rating point (CPRP) is:
A) $100 B) $1,000 C) $10,000 D) $100,000
Business