Linwood Johnson has a check for $1395.50 in a check for 876 callers and $.25 he also has $10 in one dollar bills he would like to receive $475 in cash and deposit the rest of the money in the savings account watch the total deposit

Linwood Johnson Has A Check For $1395.50 In A Check For 876 Callers And $.25 He Also Has $10 In One Dollar

Answers

Answer 1

Answer:

$1806.75 is the deposit

Explanation:

Add 1395.50, 876.25, and 10 together. Then from that amount subtract 475 then there is your answer


Related Questions

Which of the following reflects the effect of the year-end adjusting entry to record estimated uncollectible accounts expense using the allowance method? Balance Sheet Income Statement Statement of Cash Flows Assets = Liabilities + Stockholders' Equity Revenue Expense = Net Income A. − = n/a − n/a − − − OA B. n/a = − − n/a + − n/a C. n/a = − − n/a + − − OA D. − = n/a − n/a + − n/a

Answers

It is only option D.  − = n/a − n/a + − n/a that reflects the effect of the year-end adjusting entry for Uncollectible Accounts Expense when the allowance method is used.

The entry reduces Accounts Receivable (Assets) through its contra account (the Allowance for Uncollectible Accounts).

It does not affect the liabilities.  It reduces Equity because it is an expense that reduces Retained Earnings.

The entry does not affect the Revenue but increases Expenses, which reduce the Net Income.

It is not a cash flow item and does not affect the Statement of Cash Flows.

Data and Options:

                                           Balance Sheet  Income Statement  Statement of

                                                                                                        Cash Flows

Assets = Liabilities + Stockholders' Equity  Revenue Expense = Net Income

A.  −     =      n/a             −                                    n/a           −             −       − OA

B.  n/a  =       −               −                                    n/a           +             −         n/a

C. n/a   =       −               −                                    n/a           +             −       − OA

D. −      =      n/a             −                                    n/a           +             −       n/a

The estimated Uncollectible Accounts Expense is Bad Debt Expense.  

When this year-end adjusting entry is recorded, the financial statements affected are only the Income Statement (expenses) and the Balance Sheet (equity).

Thus, the only correct reflection of the adjustment is option D.

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What is considered best practice when matching customer receipts and vendor bills within the bank feeds in QuickBooks Online?

Answers

Answer:

Finish the workflow for receiving payments and making bill payments

chi phí cơ hội của viẹc học đại học

Answers

What is the question

Which transaction caused John to overdraw his account?
The Online Bill Payment for $146.67
Check No. 409 for $100
Check No. 410 for $710.49
The Overdraft Fee of $35

Answers

Answer:

Check No. 410 for $710.49 caused John's to overdraw his account.

Explanation:

This is when the balance became negative.

By looking at the financial statements given above for the account of John, it can be concluded that the check no. 410 for $710.49 caused John to overdraw money from his account. Therefore, the option C holds true.

What is the significance of overdraw account?

An overdraw from an account can be referred to or considered as a transaction in which the account holder is able to withdraw an amount of more than the actual balance in his account. After an overdraw transaction, the balance of the account is negative.

In the account statement given above, one can easily take a guess that after the drawing of Check No. 410 for an amount of $710.49, the balance in the account became negative for the first time, thereby indicating an overdraw transaction.

Therefore, the option C holds true and states regarding the significance of overdraw account.

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no 1 college in Pakistan??

Answers

Answer:

Aps gak kharian kent

Explanation:

army public gak college

ABC Company ended Year 1 with the following account balances: Cash $600, Common Stock $400, and Retained Earnings $200. The following transactions occurred during Year 2: Issued common stock for $19,000 cash. ABC borrowed an additional $11,000 from Chris Bank. ABC earned $9,000 of revenue on account. ABC incurred $4,000 of operating expenses on account. Cash collections of accounts receivables were $6,000. ABC provided additional services to customers for $1,000 cash. ABC purchased land for $14,000. ABC used $3,000 in cash to make a partial payment on its accounts payable. ABC declared and paid a $200 dividend to the stockholders On December 31 ABC had accrued salaries of $4,000. What is the amount of net income (loss) reported on the December 31, Year 2 income statement

Answers

If ABC declared and paid a $200 dividend to the stockholders On December 31 ABC had accrued salaries of $4,000. The amount of net income (loss) reported on the December 31, Year 2 income statement is $2,000.

First step is to calculate the revenue

Revenue =  Earned revenue on account + Provided services for cash

Revenue =$9,000+$1,000

Revenue = $10,000

Second step is to calculate the expenses

Expenses =Operating expenses +  Accrued salaries

Expenses=$4,000+$4,000

Expenses= $8,000

Third step is to calculate the Net income

Net income = Revenue − Expenses

Net income=$10,000- $8,000

Net income=$2,000

Inconclusion if ABC declared and paid a $200 dividend to the stockholders On December 31 ABC had accrued salaries of $4,000. The amount of net income (loss) reported on the December 31, Year 2 income statement is $2,000.

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g Amy and Jack were loyal customers of GreenFoods, a local grocery store. However, after a couple of incidents where they had to return products that were stale and out of date, the couple decided to try out VeggiesNmore, a chain store that recently opened in town. Both Amy and Jack must move through each stage in the marketing funnel before becoming loyal customers. Jack has shopped at VeggiesNmore. He was happy with the experience and thought that this could be an alternative to GreenFoods. However, he is also eager to try out other stores in the neighborhood. He is in the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is concerned.

Answers

Based on the description given, Jack is in the nonrejecter stage of the marketing funnel.

The marketing funnel is used to describe the transition of customers towards becoming loyal to a brand. I’it keeps track of a customer's journey from getting to know a brand up till subsequent patronage of the brand.

The nonrejecter stage, marks the early stage of the marketing funnel, majorly after the first few purchases are made.

As for Jack, due to his disappointment which GreenFood's services and desire to try another brand. The fact that his first purchase was better at VeggiesNmore makes him contented and satisfied.

Therefore, Jack is in the Nonrejecter stage of the marketing funnel.

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As a market moves from a single seller to a competitive one, a product's price _____.

stays the same
increases
decreases

Answers

Answer:

Decreases

Explanation:

1. Read the following scenario and answer the question in 5-10 sentences. You are an expert in the field of advanced laser technology. You believe there is a profitable, though risky, commercial market opportunity for a new and more effective photonic crystal laser. The investment could result in a financial success, but could also result in no new innovations even after significant research costs. It requires a number of experts to coordinate in order to develop the new lasers. You invite eleven people that have never worked together to develop the new technology. You want to form a limited liability company in order to protect the interests of all participants. Evaluate the possible management structures and key terms of any operating agreement that should be considered in order to form an LLC.

Answers

The possible management structures and key terms of any operating agreement that must be considered to form an LLC are related to responsibility sharing, as an LLC is a type of entity owned by its partners.

Some features of the LLC are:

Less formality.Tax savings.Flexible management.Simple organizational structure.

Therefore, the LLC is a single hybrid entity, more streamlined than a corporation, with the advantage that this proprietorship has limited liability protection.

Management is also more flexible, with decision-making being possible to be shared among its members, regardless of hierarchy.

It is also important to highlight the taxes, as in an LLC the taxation is simpler, with the losses and gains being reported in the tax returns, which helps to offset the income.

So this is a more streamlined and protected form of partnership that can be managed by a group of members more securely than a corporation.

It has less formal requirements to exist, and in case of bankruptcy or debt, there is greater protection for each member's personal property, as in an LLC the debts and obligations cannot be greater than the initial capital invested in the company.

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What are the three phases in purchasing process

Answers

Answer:

It is the journey or buying process that consumers go through to become aware of, evaluate, and purchase a new product or service, and it consists of three stages that make up the inbound marketing framework: awareness, consideration, and decision.

The three steps that make up the inbound marketing framework are awareness, consideration, and decision. This is the path or buying process that customers take to learn about, assess, and acquire a new good or service.

What is purchasing process?

The purchasing process refers to the steps a company takes to carry out a purchase. Unlike people, businesses frequently adhere to a structured process when making purchases. Research, input from numerous departments, negotiations, and invoicing may all be required for a business's purchases.

Traditional Purchase Orders were plans for future purchases contracts for purchases known as "blanket purchase orders" or "standing orders".

By employing an effective purchasing strategy, you may cut expenditures. It makes it simpler for you to locate suppliers of low-cost, high-quality goods and services. Possessing a purchase technique will help you to avoid being taken advantage of by con artists.

Thus, The three steps that make up the inbound marketing framework are awareness.

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In the service department of the Glenn-Mark Auto Agency, mechanics requiring parts for auto repair or service present their request forms at the part department counter. The parts clerk fills a request while the mechanic waits. Mechanics arrive in a random (Poisson) fashion at the rate of 32/hr., and a clerk can fill requests at the rate of 20/hr. Given the cost for a mechanic is $70/hr., and the cost for a clerk is $25/hr.

Required:
a. Determine the optimum number of clerks to staff the counter.
b. How many mechanics are waiting in line on average?
c. What is the optimum number of clerks to staff the counter?

Answers

Answer:

,

Explanation:

In most states insurance companies O a higher standard of care of first party Clemets then they do third party Clemets because

Answers

Answer:

Most states do not allow the third-party claimant to proceed

against the insurer, once he has been paid the maximum recover-

able on the policy, except as the policyholder's assignee. Some

states, however, have altered this result either by using statutes to

create an assignment where the policyholder has not voluntarily

made one, or by fashioning a direct third-party suit against the insurer.

How to save money in low income​

Answers

Answer:

First things first, you need to know how much money you have and what regular fixed expenses you have. Setting up a budget can help. When you don’t have a lot of money coming in, it’s important to check your bank statements regularly and budget accordingly so you have enough to cover your basic needs, like rent and utilities.

If you’re not sure how to set up a budget, try Suncorp’s Budget Planner. It’s free to use and calculates the difference between your income and expenses when you input your information. A little knowledge can go a long way, especially if you’re new to budgeting. In some cases, you might be entitled to financial support from government agencies if you have a low income. Centrelink offers a low income Health Care Card which, if you’re entitled to it, offers discounted services for public transport and medication.

The Department of Human Services has information on income support, so it can be a good idea to do your own research to find out what you’re entitled to ahead of time. Saving money on things like food and entertainment is possible (even on a low income). You could try buying basic food items (think dried fruit, coffee or tea) in bulk, or look for the generic brand instead of the more expensive named options.

Get creative when it comes to entertainment options too. Keep an eye out for free activities in your local area, such as outdoor concerts. You can also pay a visit to your local library, where you can borrow books, DVDs and other resources for free! Paying attention to how you spend your money will help you avoid the temptations of impulse purchases as well.

Simply take 10% of your income every month then put it in a savings account

Ngành quản trị kinh doanh chỉ cần thiết cho lĩnh vực kinh doanh

Answers

Answer:

No

Explanation:

It applies in almost all working environment that you may think of.

Four fundamental factors affect the cost of money:

1. The return that borrowers expect to earn on their investments
2. The preference of savers to spend their income in the current period rather than delay their consumption until some future period.
3. The risks associated with the investment
4. Expected inflation

Consider the following statements that address these factors, and indicate if you think each statement is true or false.

a. On average and everything else held constant, consumers prefer deferred consumption spending to immediate spending. On average and everything else held constant, an investment that can provide a 4% return should attract more investment capital from savers/investors than an otherwise identical investment that can generate a 12% return.
b. An investment that can provide a 10% return should attract more investment capital than an otherwise identical investment that can only provide a 6% return.
c. On average and everything else held constant, 30-year U.S. Treasury bonds should expect to exhibit a smaller maturity premium than a 1-year U.S. Treasury bill.
d. All things being equal, savers and investors expect to receive some amount of maturity premium as compensation for their deferred consumption.

Answers

Given the four fundamental factors that affect the cost of money, only options b and d are correct.

Statement b is true:

When people invest their money, they are foregoing consumption in that current period that they are in.

They expect their invested capital to yield them interests as compensation for not spending the money earlier.

Statement d is true:

When people invest, what they look out for are risks and most importantly the returns that they would get from investing their capital.

A 10% investment return is greater than a 6% return.  Because this return is higher, it would therefore attract more capital investment.

Options a and c are false.

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why do toy manufacturers continue to produce and market toys that tell boys to be powerful, adventuresome and ready for battle?

Answers

The reason toy manufacturers continue to produce and market toys that tell boys to be powerful, adventuresome, and ready for battle is "that advanced marketing research concluded that gender stereotypes sell better in toys production."

This is evident in the fact that many toys manufacturers create toys that promote different gender roles for different kids.

For example, toys that promote male stereotypes are designed and manufactured for boys, while those that promote female stereotypes are designed and manufactured for girls.

The purpose of making toys by the manufacturers is to make money, and the research has shown that kids and parents prefer gender stereotypes in the toys they buy.

Hence, in this case, it is concluded that the toy manufacturers are seeking to earn profits. That is why they continue gender stereotypes in their production.

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Which of the following is an example of an indirect tax?
Estate tax
Federal income tax
Personal property tax
Sales tax

Answers

Sales tax, took the test and got it correct, hope this helps

Among all the given options of taxes, the one which is considered an example of an indirect tax is sales tax. Hence, Option D is correct.

What is a tax?

The activities which are performed by an individual with the aim of making money for fulfilling the basic, as well as the desired needs, are known as a profession.

The money which is made by the person should be done in legal ways and on these incomes, one has to pay some duty to the government. This duty is termed a tax.

As per the income and assets that one has made, taxes are charged on them. Some of them are direct and some of them are indirect. The ones which are direct are Estate tax, Federal income tax, Personal property tax, and many more.

As a result of this, sales tax is considered an indirect tax. Option D is correct.

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1. "The apartment was so cool, but there is no bus stop within miles and I don't have a car."

Answers

Rent or Uber is what I would do I mean you don’t really have any other option

retentions are also commonly known as

Answers

Answer:

Explanation:

In this page you can discover 21 synonyms, antonyms, idiomatic expressions, and related words for retention, like: reservation, remembrance, withholding, retentiveness, recall, detention, maintenance, holding, recognition, memory and keeping.

8. Who are the top two export partners of the United States?
a. Japan and China
b. Canada and the United Kingdom
c. Mexico and Canada
d. Mexico and China
e. The United Kingdom and Japan

Answers

D. Mexico and China

The biggest U.S. trade partners include China, Canada and Mexico.

MasterCard managers are motivated to increase (1) the number of individuals who have and use a MasterCard credit card, (2) the number of banks and other clents who issue MasterCards to customers and/or employees, and (3) the number of locations that accept MasterCard payments. Discuss how MasterCard could use its data warehouse to help it expand each of these customer bases.

Answers

MasterCard could use the data warehousing strategy by making its cards acceptable for any transaction in any place.

Data warehouse plays an important role in the competitive market for MasterCard. As the data has been turned into Business Intelligence (BI), which enables individuals, banks and companies to make strong decisions with regard to payment through electronic means.

The data warehousing could be used by MasterCard to gain a distinct advantage over its competitors. As previously Visa represents around 50% of charges for products sold overall while MasterCard was only at 25%.

An example of using Data warehousing is such that banks can issue MasterCard which if used on Aircraft or Restaurants then these banks can use this data to arrange offers and other benefits to motivate cardholders to spend more with their MasterCard. They could even offer limited time openings such as to pay for room or buy exclusive items during shopping.

( )는 기업이 자본이 아닌 인재를 확보하는 것이 전략적 우위 및 경쟁력 확보에 큰 영향을 미친다는 것을 의미하는 것으로써 인적자원관리의 중요한 본질이다.

Answers

Answer:

It is an important essence of human resource management, which means that the company has a great impact on strategic advantage and competitiveness to secure a non-capitalized personality.

Explanation:

thats what that means its Korean

How does the automatic mechanism move the economy to potential real gross domestic product (GDP) in the long run when current real GDP is above potential GDP?

Answers

Answer:

bdhrjdkskfnfnbxjfkznx

Explanation:

msnfnxncjcbxnchjdnx be n

bsjrngkfmgnmgfmgm hum kkkmdnxnxmd

jdjfjfngjdmakngnfmslsjfngjfksmakwkkrnckdmrkkrndnrjfnrjfnkskakwlqknfnfbbfbc sndndnskfndnncc cbndjdjdjtmgjdjtkdnsbfmvmmfnskkakdmncncbbgnfncnnfncnfnxndndnfbsnnnfnfnfnfnncsmmslmNbfng nxjndnfjrjfjjcjtiskdkhdjfnf kdjfjfnfndnkdjfndjdjnankxn jdjfncnms

The automatic mechanism moves the economy to potential real gross domestic product The aggregate supply curve over the short run shifts to the left as nominal wages decline.

What is the product?

The object being sold is referred to as a product. A service or an object both qualify as products. It could take on a physical, virtual, or cyber form. Every product has a cost associated with it, and each one has a price. The market, the quality, the marketing, and the group that is being targeted all affect the price that can be charged.

With an automatic adjustment mechanism, the system would change by default by either raising taxes, cutting benefits, or both; therefore, the legislation would be required to stop that change.

Therefore, The automatic mechanism moves the economy to potential real gross domestic product

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Lucius is very reluctant to make purchase decisions in the marketplace. When stressed about making a purchase, he often relies on others then observes the purchase behavior of those that experience similar difficulty in purchase. He has also joined certain groups that aid him in his purchase decisions. What personality type of consumer best describes Lucius?

Answers

Answer:

A careful consumer.

Explanation:

Fast Distribution Company expects its September sales to be 25% higher than its August sales of $151,000. Purchases were $101,000 in August and are expected to be $121,000 in September. All sales are on credit and are expected to be collected as follows: 30% in the month of the sale and 70% in the following month. Purchases are paid 25% in the month of purchase and 75% in the following month. The cash balance on September 1 is $11,000. The ending cash balance on September 30 is estimated to be: _________

Answers

The ending cash balance on September 30 is estimated to be: $67,325.

Fast Distribution Company Ending cash balance

Beginning cash balance $11,000

Cash receipts from credit sales made in August  $105,700

($151,000 × 0.70)

Cash receipts from credit sales made in September $56,625

[($151,000 × 1.25)× 0.30]

Less Cash disbursements from purchases made in August ($75,750)

($101,000 × 0.75)

Less Cash disbursements from purchases made in September ($30,250)

($121,000 × 0.25)

Ending balance $67,325

($11,000 + $105,700 + $56,625 - $75,750 - $30,250)

Inconclusion the ending cash balance on September 30 is estimated to be: $67,325.

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5. Which of the following describes a business want?
a higher ROMI
increased profits
a new advertising campaign
decreased expenses

Answers

Answer:

so its increased profits

10. Which of the following scenarios would best exemplify Adam Smith's view of best serving the
interests of society?
a. Individuals are selected to fill certain positions within the economy of their nation according
to the needs of the nation as a whole.
b. Markets are carefully regulated to ensure that all individuals within a nation are treated fairly
and charged standardized prices.
c. A country only has a limited amount of space for college students and uses a type of lottery
system to determine who gets these spaces.
d. Government scarcely exists in this country, and transactions are based on a system of barter,
or trading goods, for other goods.

Answers

E. Individuals in the country may pursue their own economic growth and self-interest by doing whatever is best for them

Explanation:

100pts
Refine your search to find information about your community's comprehensive and zoning plans, permit application process, and other information and procedures. Determine what steps you would need to take to build a new structure, business, or development in your community. Why are these steps important in ensuring the appropriate development for your community?

Now, use a map to plan your own city or community. What do you think would be required to have a good place for people to live, work, and play? Remember to keep social justice, equity, and environmental protection in mind as well. Consider the natural resources and economic basis for your proposed community.

Answers

Explanation:

Have you had the motivation to mobilize your community to address a problem that affects the local population, but just not known how to begin? You might wonder; “How do I investigate the problem?”, “Whom do I involve in the strategies to address the problem?”, “How do I successfully facilitate a group of diverse representatives from a community to reach consensus about a common vision and the actions that will turn ideas into results?”

This tool has the answers to these and other important questions. It will prepare you to lead your community in action planning.

WHAT IS ACTION PLANNING?

The overall goal of action planning is to increase your community’s ability to work together to affect conditions and outcomes that matter to its residents—and to do so both over time and across issues of interest.

As your community works towards a broad vision of health for all, creating supportive conditions for change requires comprehensive efforts among diverse sectors of the community. These include health organizations, faith communities, schools, and businesses. Representatives of each sector come together to form a community coalition. Your community coalition can strive to influence systems changes—programs, policies, and practices that can enhance the community’s capacity to be a healthy environment.

A community coalition initiates its work by generating an action plan.

An action plan outlines what should happen to achieve the vision for a healthy community. Desirable changes and proposed activities (action steps), timelines, and assignment of accountability provide a detailed road map for collaborators to follow.

HOW DOES ACTION PLANNING HELP A COMMUNITY?

REGARDLESS OF THE COMPLEXITY OF THE PROBLEM AT HAND WITHIN YOUR COMMUNITY, ACTION PLANNING HELPS YOU:

Understand the community’s perception of both the issue at hand and its potential solutions

Assure inclusive and integrated participation across community sectors in the planning process

Build consensus on what can and should be done based on the community’s unique assets and needs

Specify concrete ways in which members of the community coalition can take action

The list above describes how an action plan helps a community’s sectors and residents within those sectors work together to achieve a common vision. This tool will address each item and provide guidance for your action planning work that lies ahead.

WHY IS ACTION PLANNING IMPORTANT?

Proper planning of any initiative is critical for yielding the best results or outcomes possible. An action plan, while a significant investment of time and energy, can be an effective tool that grounds all collaborators with a common purpose. Developing an action plan is a critical first step toward ensuring project success.

An action plan assures that:

No detail is overlooked

Proposed action steps are feasible and/or realistic

Collaborators follow through with their commitments

Measurable activities are documented and evaluated

Overall, action planning is important because it provides a reference point with a detailed time line and assignment of accountability for accomplishing tasks along the path to making a difference.

Research findings of the Center for Community Health and Development suggest that there are a number of factors that appear to have a positive effect on rates of community and system change—and one of those includes action planning:

Analyzing Information

1. Which is most likely the reason why policymakers would impose a a price ceiling on the market for coffee?

A. Policymakers have thoroughly studied the effects of a price ceiling in this market and find there will be no adverse effects from this policy.
B. Buyers of coffee feel they would benefit from a price ceiling and have pressured policymakers to impose a ceiling on this market.
C. Sellers of coffee feel they would benefit from a price ceiling and have pressured policymakers to impose a ceiling on this market.
D. Buyers and sellers agreed that the policy will be mutually beneficial and together have pressure policymakers to impose a ceiling on this market.

2. Which is most likely the reason why policymakers would impose a a price floor on the market for dairy?

A. Policymakers have thoroughly studied the effects of a price floor in this market and find there will be no adverse effects from this policy.
B. Consumers of dairy feel they would benefit from a price floor and have pressured policymakers to impose a floor on this market.
C. Dairy farmers feel they would benefit from a price floor and have pressured policymakers to impose a floor on this market.
D. Buyers and sellers agreed that the policy will be mutually beneficial and together have pressure policymakers to impose a floor on this market.


Answers

Answer:

1.  B- Buyers of coffee feel they would benefit from a price ceiling and have pressured policymakers to impose a ceiling on this market.

2. C- Dairy farmers feel they would benefit from a price floor and have pressured policymakers to impose a floor on this market.

The most likely reason why policymakers would impose a a price ceiling on the market for coffee is buyers of coffee feel they would benefit from a price ceiling and have pressured policymakers to impose a ceiling on this market.

The most likely reason why policymakers would impose a a price floor on the market for dairy is  Dairy farmers feel they would benefit from a price floor and have pressured policymakers to impose a floor on this market.

A price ceiling is when the government sets the maximum price for a good. A price ceiling is set below the equilibrium price so it benefits consumers of a good. Sellers, on the other hand, are disadvantaged because the profits they would earn would reduce.

A price floor is when the government sets the minimum price for a good. A price floor is set above equilibrium price. These benefits sellers because they earn more profits. On the other hand, buyers are disadvantaged because goods become more expensive.

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Given Principal: $10,000, 8%, 240 days
Partial payments: On 100th day, $4,000
On 180th day, $2,000

Required:
a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year.
b. Use the U.S. Rule to solve for principal balances.
c. Use the U.S. Rule to solve for final payment.

Answers

a. Using the U.S. Rule the total interest cost is $390.6072.

b. Using  the U.S. Rule the principal balances is $6,222.22; $4,332.84.

c. Using  the U.S. Rule the final payment is $3,309.61.

First step

Interest for 100 days =$10,000 × 8%× 100/360 =$222.22

Total amount outstanding =$10,000 + 222.22 =$10,222.22

Second step

Payment made on 100th day =$4,000

Balance outstanding =$10,222.22 - $4,000 = $6,222.22

Third step

Interest for 80 days = $6,222.22 ×8%×80/360 =$110.6172

Total amount outstanding =$6,222.22 +$110.6172 =$6,332.84

Fourth step

Payment made on 180th day =$2,000

Total amount outstanding =$6,332.84 -$2,000 =$4,332.84

Fifth step

Interest for 60 days =$4,332.84 ×8%× 60/360 =$57.77

Final balance outstanding =$4,332.84+ $57.77 =$3,309.61

Hence:

a. Total interest cost:

Total interest cost =$222.22 +$110.6172+$57.77

Total interest cost=$390.6072

b. Principal balances:

Balance after the payment:

on 100th day = $6,222.22

on 180th day =$4,332.84

c. Final payment:

Final payment = $3,309.61

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