Josh Reilly is the owner of Dispatch Delivery Service. Recently josh paid interest of $4,500 on a personal loan of $75,000 that he used to begin the business. Should Dispatch Delivery Service record the interest payment? Explain.
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Josh Reilly is the owner of Dispatch Delivery Service. Recently josh paid interest of $4,500 on a personal loan of $75,000 that he used to begin the business. Should Dispatch Delivery Service record the interest payment? Explain.
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- Travis Thompson uses his credit card to obtain a cash advance of $600 to pay for his textbooks in medical school. The interest rate charged for the loan is 0.04386% per day. Travis repays the money plus the interest after 30 days. a) Determine the interest charged for the cash advance. b) When he repaid the loan, how much did he pay the credit card company?Mohammed received a housing loan of RO 50,000 from Bank Sohar, Nizwa Soug branch on 1st January, 2020. For this purpose, he and the branch manager signed a loan contract and Mr. Mohammed agreed to repay the loan in monthly installments. From the above scenario what type of relationship that Mr. Mohammed and Bank Sohar are having? Who is having the liability and when the liability will expire? Explain in your own way.Jackie owns a temporary employment agency that hires personnel to perform accounting services for clients. During the year, her expenses for her clients include the following: Cab fare to and from restaurants Gratuity at restaurants Meals Cover charges All expenses are reasonable. Required: a. How much of these expenses can Jackie deduct? b. How is the deduction classified? Required A Complete this question by entering your answers in the tabs below. Required B Cab fare to and from restaurants Gratuity at restaurants Meals Cover Charges Total deduction How much of these expenses can Jackie deduct? Note: Leave no cells blank. Enter "0" wherever required. $ 450 400 4,500 350 Answer is complete but not entirely correct. $ $ $ $ $ 450✔ 200 x 2,250 X 175 X 3,075 X
- Justin P. deposited $2000 into an account 5 years ago. Simple interest was paid on the account. He has just withdrawn $2876. What interest rate did he earn on the account?Phillamone Berry has a car loan with a company that refunds interest using the rule of 78 when loans are paid in full ahead of schedule. He is using an employee bonus to pay off his car, which is on a 41-month loan. The total interest for the loan is $2,310 and he has 17 more payments to make. How much finance charge will he get credit for if he pays the loan in full immediately?Hans borrowed money from an online lending company to invest in antiques. He took out a personal, amortized loan for $25,500, at an interest rate of 7.5%, with monthly payments for a term of 1 year. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Hans' monthly payment. $0 (b) If Hans pays the monthly payment each month for the full term, find his total amount to repay the loan. $0 (c) If Hans pays the monthly payment each month for the full term, find the total amount of interest he will pay.