KBL Ltd. entered into an agreement to lease a vehicle from Morgan Ltd.: Cash price of the vehicle Kshs 20.000 Lease payments: 5 instalments of Kshs 5.142 paid in arrears Required: How much of this finance charge will appear in each year's profit and loss expense in the lessee's books using the actuarial method? (10 Marks)​

Answers

Answer 1

Finance charge is the amount it costs of borrowing money

The finance charge that will appear in each year's profit and loss expense in the lessee's books are;

[tex]\begin{array}{|c|cc|}\mathbf{Year}&&\mathbf{Finance \ Charge \ (Kshs)}\\&&\\First&&1.8\\&&\\Second&&1.499\\&&\\Third&&1.171\\&&\\Fourth&&0.814\\&&\\Fifth&&0.424\end{array}\right][/tex]

The total financial charge = 5 × 5.142 - 20.000 = 5.71

The annual percentage rate, APR, of an instalment payment is given as follows;

[tex]\dfrac{(1 - (1 + r)^{-5}}{r} \times 5.142 = 20.000[/tex]

Solving using a graphing calculator gives;

r = APR ≈ 0.09 = 9%

The calculation for charges each year is as follows:

Payment interest for the first instalment = 20 × 9% = 1.8

The principal of the first payment = 5.142 - 1.8 = 3.342

The loan balance = 20 - 3.342 = 16.658

Payment interest for the second instalment = 16.658 × 9% = 1.49922

Second payment principal = 5.142 - 1.49922 = 3.64278

Loan balance = 16.658 - 3.64278 = 13.01522

Payment interest for the third instalment = 13.01522 × 9% = 1.1713698

Third payment principal = 5.142 - 1.1713698 = 3.9706302

Loan balance = 13.01522 - 3.9706302 = 9.0445898

Interest for the fourth payment = 9.0445898 × 9% = 0.814013082

Fourth payment principal = 5.142 - 0.814013082 ≈ 4.327986918

Loan balance = 9.0445898 - 4.327986918 = 4.716602882

Fifth payment interest = 4.716602882 × 9% = 0.42449425938

Fifth payment principal = 5.142 - 0.42449425938 ≈ 4.718

Therefore, we have;

[tex]\begin{array}{|c|cc|}\mathbf{Year}&&\mathbf{Finance \ Charge \ (Kshs)}\\&&\\First&&1.8\\&&\\Second&&1.499\\&&\\Third&&1.171\\&&\\Fourth&&0.814\\&&\\Fifth&&0.424\end{array}\right][/tex]

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Related Questions

Select the correct answer.
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2021 EdimentumAll rights

Answers

Answer:

C

Step-by-step explanation:

If you add up the length of two sides, the sum must be greater than the third side of the triangle.

If you add 1 and 2, it equals 3

But that means it will be equal to the length of the third side, 3

It will be impossible to make a triangle with those lengths of sides no matter how the sides or angles are set.

It's sort of difficult to explain this without any visual

You can look up "triangle inequality" to find out more about this

State the gradient of the line 2y = 3 – 2x.

Answers

Answer:

Step-by-step explanation:

2y = 3-2x

y = -x + 3/2

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Tom works at a car dealership selling cars. If he makes $4000 a month and $250 per car he sells, how much did he
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Answers

Answer:

Answer = he made 7,000 in July and sold 10 cars in august.

Step-by-step explanation:

can anyone help me out with this one?

Answers

a(n)=a1 + (n-1)d
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Answers

Answer:

(-9/2,-1)

Step-by-step explanation:

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Choose all answers that apply:

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Answers

Answer:

a:h=square root of 0.6

Step-by-step explanation:

thank you for your time today

Answer:

none of the above

Step-by-step explanation:

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Will mark as brainliest!

Answers

Answer:

[tex]f=12-\frac{t}{20}[/tex]

Step-by-step explanation:

A coin is flipped two times and the number of heads is counted. Which of the following is a valid assignment
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8.
Number of heads
Probability
0
1/10
1
5/10
2
4/10
b.
Number of heads
0
1
2
Probability
1/4
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1/3
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Answers

Answer:

5/10, 1, 2/4,

Step-by-step explanation:

Simplify show step by step 30 POINTS!

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Step-by-step explanation:

hopefully it makes sense and is visible

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Answers

Answer:

Step-by-step explanation:

Helppp
Find the measure of ∠3.

Answers

Answer:

90°

Step-by-step explanation:

diagonals of a kite intersect each other at 90°

:)

ANSWER :

third option 90 degrees

Step-by-step explanation:

the opossite adjasent angle is 1 that is 90 so angle 3 is opposite adjacent angle of angle 1

*The opposite adjacent angles will always be same

Jungwon has $15. Notepads cost $2.50 each. How many notepads can Jungwon buy?​

Answers

15 divided by 2.50 is 6
So Jungwon has $15 and each notepad costs $2.50. We need to find out how many notepads Jungwon can buy with $15. Simply take $15 and divide that by $2.50, you get 6. Jungwon can buy 6 notepads with $15.

Please help due tomorrow

Answers

the scale factor is 3. all of them are 3.

The scaled factor is 3 for all of them.

One number exceeds another by 12 and their sum is 44 find the two numbers you

Answers

Answer:

Step-by-step explanation:

x - first

x + 12 - second

x + (x + 12) = 44

2x=44-12

x=16

first number is 16

second number is 16+12=28

two numbers are 16 and 28

16 and 28 are the required two numbers when one number exceeds another by 12 and their sum is 44

One number exceeds another by 12 and their sum is 44

We need to find the two numbers

What is equation?

Two expressions with equal sign is called equation.

Let x be the first number

x + 12 be the  second number

x + (x + 12) = 44

2x=44-12

x=16

Therefore first number is 16

second number is 16+12=28

To learn more about solving equation click here: https://brainly.com/question/24638714

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Can someone help me solve these 3 trig identity problems? I am stuck on these last 3... I will give brainliest!

(calculators are allowed)

Answers

Answer:

1. 1,246

2. 0,545

3. 0,9539

Step-by-step explanation:

semoga membantu :)

Going into the final​ exam, which will count as two​ tests, has test scores of 77 , 82, 72 , 63 and 92 What score does need on the final in order to have an average score of​ 80?

Answers

Answer:

you either need to score a perfect on one exam and get a 80 on the second or get two 90s on both exams.

Step-by-step explanation:

Find an equation of the set of all points equidistant from the points
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Answers

We need to find the equation which is equidistant to the given points.

[tex]A(-2,6,3)[/tex] and [tex]B(5,3,-3)[/tex]

This can be done using the distance formula.

Let us take a point [tex]P(x,y,z)[/tex] which is equidistant from both points so

[tex]\sqrt{(x+2)^2+(y-6)^2+(z-3)^2}=\sqrt{(x-5)^2+(y-3)^2+(z+3)^2}\\\Rightarrow y^2-12y+x^2+4x+z^2+49-6z=y^2-6y+x^2+z^2+6z+43-10x\\\Rightarrow 7x-3y-2z+1=0[/tex]

The required equation is [tex]7x-3y-2z+1=0[/tex]

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Answers

3(4x+3)=12x+9

i don't know what do you need,

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Answers

Rounding to the nearest hundredth your answer should be 57.6

1. If a = -1 , the value of3a + 1 is ​

Answers

Answer:

[tex]f(a) = 3a + 1 \\ Now,\: a = - 1 \\ f( - 1) = 3( - 1) + 1 \\ f( - 1) = - 3 + 1 \\ \boxed{ f( - 1) = - 2}[/tex]

Therefore, -2 is the right answer.

please help me, if you help then thanks!

Answers

Answer:

B. [tex] {a}^{ - 7 - 10} [/tex] (second option)

Step-by-step explanation:

[tex] \frac{ {a}^{ - 7} }{ {a}^{10} } [/tex]

[tex] {a}^{ - 7 - 10} [/tex]

[tex] - 7 - 10 = - (7 + 10) = - 17[/tex]

Help please! Find the area of the shape below. (Show work)

Answers

9514 1404 393

Answer:

  292 yd²

Step-by-step explanation:

We can find the area of the remaining L shape by subtracting the area of the 21×22 rectangle at lower left from the 26×29 overall rectangle.

  shape area = (26 yd)(29 yd) -(21 yd)(22 yd) = 754 yd² -462 yd²

  shape area = 292 yd²

__

Additional comment

The area of a rectangle is the product of its length and width.

There are many ways the area of this shape can be calculated. The area can be divided into two rectangles, two trapezoids, three rectangles, and other ways.

If you cut up the given shape into smaller pieces, you will generally need to know the widths of the arms of the L. One of those is shown as 7 yd. The other is 26-21 = 5 yd.

Using the method we did, we only needed the dimensions shown on the figure.

(25x3) + (10x3) is my question i dont know the answer

Answers

Answer:

75+30=105....................

What is this number sentence equal to?

If you could help, thank you so much!

Answers

the answer is 18.63 :)

Answer:

18.63

Step-by-step explanation:

[tex] \frac{6}{10} = 0.6 \\ \frac{3}{100} = 0.03[/tex]

[tex]10 + 8 + 0.6 + 0.03 = 18.63[/tex]

i’m genuinely confused, please help

Answers

Answer:

2x + 3 + 3x +12 + 90 = 180 (degree )

5x +105=180 (degree )

5x= 180-105 (degree )

5x = 75 (degree )

x = 75/5 (degree )

x = 15 #

therefore, 2x + 3= 2*15 + 3

=30+3

= 33#

3x + 12 = 3*15+12

= 45 +12

= 57#

Two cars start at the same point. One travels north at 65 km/h and the other travels east at 50 km/h. How far are they apart after 30 minutes?​

Answers

Answer:

they travel 115 km/h long

Integration of x+4/(x+2)"2

Answers

Answer:

is this u want?

Step-by-step explanation:

if no so sorry..

Is [tex]2 \frac{2}{3} [/tex]
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Answers

Yes it’s a rational number.

How would you write 5x5x5x5x5x5 in exponential form

Answers

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5^6

Step-by-step explanation:

This is because the exponent is how many numbers are in the multiplication equation, in this case, five. Because there are six five's being multiplied together, our exponent is six.

Mrs. Harris treated her 1st period with donuts for averaging the highest on the midterm exam. She bought 25 donuts, By the end of the period, there were 3 donuts remaining. What is the percent decrease?

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Answer:

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