You are the Finance Manager for Andy & Co and have received the approval to borrow $200,000 with interest rate settled @5% p.a. The loan is for a period of 5 years. And to be repaid monthly. Calculate the repayment amount and total interest amount for the loan.
Andy & Co has also got a car loan of $25,000 for 3 years with interest rate settled @8% p.a. to be compounded quarterly. Calculate the accrued amount for the loan.
As on 31st May, 2016, Andy & Co’s loan account shows a balance of $5,100. The company made the minimum monthly payment of $100 for the month of June on 1st June. Calculate the interest amount accrued for June by considering the interest rate of 6% p.a.
Using the following information of Andy & Co, calculate the Annual Break Even Point (BEP).
- Capacity of manufacturing is 2000 units per month
- Fixed Cost per month is $50,000
- Selling price per unit is $100
- Variable cost per unit is $50
Using the information below calculate the depreciation amount per year for an equipment.
- Purchase price was $40,000.
- Salvage value is $10,000.
- Expected useful life is 5 years.
Using simple interest method, how much interest will you pay if you borrow $20,000 for 2 years at an interest rate of 5% p.a.
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