Use PMT \( =\frac{p\left(\frac{r}{n}\right)}{\left[1-\left(1+\frac{r}{n}\right)^{-m}\right]} \) to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of \( \$ 5900 \) and an annual interest rate of \( 12 \% \). You decide to pay off the balance over three years. If there are no further purchases charged to the card, a. How much must you pay each month? b. How much total interest will you pay? a. The monthly payments are approximately \( \$ \square \). (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The total interest paid over 3 years is approximatsily \( \$ \square \). (Round to the nearest dollar as nesded.)

QUESTION 8 A new cell phone was purchased for R 7 200. Determine the value of the cell-phone after 3 years if it depreciates at \( 25 \% \) per annum on Reducing Balance scale. \( A=P(1-i)^{n} \)

E5-32B. (Learning Objective 5: Apply GAAP for uncollectible receivables) At December 31, 2024, Concord Travel Agency has an Accounts Receivable balance of \( \$ 87,000 \). Its net accounts receivable is \( \$ 86,120 \) before the year-end adjustment. Service revenue (all on account) for 2024 was \( \$ 800,000 \). Concord estimates that its bad debt expense for the year is \( 3 \% \) of service revenue. Requirêments 1. Calculate Concord's bad debt expense for 2024 . 2. How are Concord's balance sheet and income statement impacted by the adjustment to recognize bad debt expense for the year? 3. Calculate the net realizable value of accounts receivable as of December 31,2024 .

An amount of R 500 is invested at \( i \% \) per annum compound interest. After 6 years it has grown to \( \mathrm{R} 1126,10 \). Calculate the value of \( i \), round off to a whole number and give your answer as a percentage.

A nominal interest rate of \( 7,2 \% \) per annum is quoted. The interest is compounded monthly. 8.3.1 Calculate the effective interest rate n a round off to a whole number.

A car was valued at \( \$ 42,000 \) in the year 1991. The value depreciated to \( \$ 12,000 \) by the year 2004. A) What was the annual rate of change between 1991 and 2004 ? \( r= \) B) What is the correct answer to part A written in percentage form? \( r= \) C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2007? value \( =\$ 9000 \) Question Help: Video Submit Question Jump to Answer