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]

Learn more about the actuarial method here:

https://brainly.com/question/15504405


Related Questions

Marvin has 2 rabbits. The number of rabbits triples every year. Marvin needs 100 pounds of food to feed one rabbit per year. How many pounds of food will Marvin need to feed his rabbits during the 3rd year?

Answers

Answer:

1200 pound

Step-by-step explanation:

year 1: 2 rabbits

year 2: 2 rabbits x 3 = 6 rabbits

year 3: 6 rabbits x 3 = 12 rabbits

12 rabbits x 100 pounds = 1200 pounds

Thomas owns a car shop that runs out of his garage. he changes oil in people's cars and checks their tire pressure. Each time he changes the oil in a car he makes $15. He needs to make $480 this week to pay off a bill he has. How many cars must he service in order ti make this money?​

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Answer:

four-hundred and eighty÷fiteen= thirty-two

(4a) square 3 ÷ (b - 2) ; a = 2 and b = 4​

Answers

Step-by-step explanation:

=4(2)×9÷(4-2)

=8×9÷2

=72÷2

=36

simplify 5 p - 3 - (1 + p) +( 2 - p)​

Answers

Hi ;-)

[tex]5p-3-(1+p)+(2-p)=\\\\=5p-3-1-p+2-p=\\\\=5p-p-p-3-1+2=\boxed{3p-2}[/tex]

Step-by-step explanation:

5p - 3 - 1 -p + 2 - p

5p - p - p - 3 - 1 + 2

5p - 2

hi can someone help me with this problem!!

Answers

Answer:

f(x) | 5 | - 1 | - 3 | - 1 | 5 |

Step-by-step explanation:

So first you'll say "-2" into function

Replace x with negative 2

f(x) =2(-2) ^2 - 3

8 - 3 = 5

Secondly place "- 1" into function

Replace x with negative 1

f(x) = 2(-1)^2 - 3

2 - 3 = - 1

Thirdly place "0" into function

Replace x with 0

f(x) = 2(0)^2-3

0 - 3 = - 3

Then place "1" into function

Replace x with 1

f(x) = 2(1)^2 - 3

2 - 3 = - 1

Lastly place "2" into function

Replace x with 2

f(x) = 2(2)^2 - 3

8 - 3 = 5

{ hope this helps}

Given cos x=12/13 and sinx=5/13. What is ratio for ​tan x​ ?

Answers

Answer:

5/12

Step-by-step explanation:

tan(x)=sin(x)/cos(x)

So by substitution we have

tan(x)=(5/13)/(12/13)

Multiplying numerator and denominator by 13 gives

tan(x)=5/12

Lines m and n are parallel lines. If line m has a slope of -1, find the slope of linen. Type a numerical answer in the space
provided. If necessary, use the key as a fraction bar. Do not type spaces in your answer.

Answers

line n has a slope of -1

parallel lines have equal slopes

Please HELP!!!


the table of values represents a function f(x).

How much greater is the average rate of change over the interval, [7, 9] than the interval [ 4, 6 ]?

Answers

I think the answer is (3,3) I’m sorry if it’s wrong

ninety-eight thousand ,five (how to write in numerical)?

Answers

Answer:

98005

Step-by-step explanation:

ninety-eight thousand = 98000

five = 5

together = 98005

Find the slope of the line that passes through the points (3,5) and (8,9).

Answers

Answer:

slope=(y2-y1)÷ ( x2-x1)

where x1=3, x2=8 and y1=5, y2=9.

slope=(9-5)÷(8-3)

slope=4÷5....ans

Que costaría más comprar una vaca o comprar hamburguesas de 1€ hasta igualar a una vaca.

Answers

Answer:

haha pues cuesta mas las hamburgesas porque toca ir al doctor despues

Step-by-step explanation:

Solve 3(x – 5) + 13 ≥ 22 – 9x.
Question 6 options:

A)

x ≤ –2

B)

x ≥ –2

C)

x ≥ 2

D)

x ≤ 2

Answers

Answer:

the answer is C

Step-by-step explanation:I hope you understand.... if you don't, let me know. pls make this your brainliest answer.

cheers

Solve for x: 2x^2 - 18 = 0

please give detailed steps!!

Answers

Answer:

[tex]x = 3[/tex]

or

[tex]x = - 3[/tex]

Step-by-step explanation:

Set up equation

[tex]2 {x}^{2} - 18 = 0[/tex]

Add 18 on both sides

[tex]2 {x}^{2} = 18[/tex]

Divide both sides by 2.

[tex] {x}^{2} = 9[/tex]

Take the square root of 9

Remeber square root solutions produce positive and negative Solutions.

[tex]x = 3[/tex]

[tex]x = - 3[/tex]

Gabby recorded the number of points she scored in her first 7 Basketball games. Which box and wiskers is correct?

Answers

Answer:

There is no Image

So Instead

There should be the lowest extreme aka 0, and hights extreme (Whatever number is last) Then you've got average (The Middle) and n the middle of it is the median.

How high is a tree that cast a 23ft shadow at the same time a6ft post casts a shadow which is 4ft long

Answers

Answer:

if it's 6 ft tall cast a 4 ft long shadow there's a difference of two feet so you look at 23 ft Shadow add two ft and u have 25 ft tall

find the slope of each line 2x+3y=9

Answers

Answer:

[tex]-\frac{2}{3}[/tex]

Step-by-step explanation:

1) the common formula of slop-interseption form is: y=slop*x+i;

2) if to re-write the given equation, then y= -2/3 x+3; where the value of the required slope is -2/3.

please help me. thank you so much i will give brainliest if it’s right:)

Answers

Answer:

distance is proportional with time

Step-by-step explanation:

The unit circle with center at the origin is a relation but not a function.
a. Find the two functions which are semicircles of the unit circle, and determine
their domains and ranges?
b. Are these functions onto functions? Justify.
c. Find the two functions which are lie in one of the semicircle in part a, and
determine their domains and ranges?
d. Are these functions one to one correspondence functions? Justify.​

Answers

Step-by-step explanation:

the formula of the "relation" is

x² + y² = r²

this is for circle with its center at the origin.

now that gives us

y² = r² - x²

y = ±sqrt(r² - x²)

a. this ± of the square root gives us the 2 functions.

y = sqrt(r² - x²)

y = - sqrt(r² - x²)

as it is a circle, the ranges and domains are the same.

domain is the allowed number interval for x, and range is the number interval for y (the function results).

both are

-r <= x <= r

outside of that range the square root argument becomes negative, and that is undefined for R (the set of real numbers).

b. if we want to see it that way, we can say that

f(x) = r² - x²

g(x) = sqrt(x)

and so

sqrt(r² - x²) = g(f(x))

a function into function.

c. let's pick the "positive" semicircle

y = g(f(x)) = + sqrt(r² - x²)

f(x) = r² - x²

the domain is all x (-infinity < x < +infinity)

the range is (-infinity < y <= r²), as negative and positive larger x will turn f(x) negative. the functional results cannot get bigger than r² (for x=0).

g(x) = +sqrt(x)

the domain is all positive x incl. 0 (0 <= x < +infinity), as sqrt is not defined for negative values. at least not in R.

the range is also all possible positive values incl. 0

(0 <= y < +infinity).

d.

A one-to-one correspondence function is a function between the elements of the two sets of domain and range, where each element of one set is paired with exactly one element of the other set, and each element of the other set is paired with exactly one element of the first set.

that means, every x value creates exactly one y value, and no y value occurs more than once.

this is no true for

f(x) = r² - x²

because for -r <= x <= r we get the same y for -x and +x.

it is true for

g(x) = sqrt(x), as no 2 different numbers have the same square root.

What is the probability of getting tails on two coins only (there are 3 coins by the way)

Answers

Answer:

1/2

please mark me brainliest

Help me with both of you, please, I'll give you more points​

Answers

Answer:

1. 80 or D

2. 18 or A

Step-by-step explanation:

well if a triangle is 400 square inches that mean the area is 400 and we know that the formula for area of a triangle is 1/2bh. we can do 400 = 10h/2 and now we solve for h. so times by 2 to get 800 = 10h and divide by 10 to get 80 inches. now substitute 80 in the equation and you get 400. so the answer is true.

for the second one the area of a trapezoid is (b_1+b_2)/2 • h so we substitute again to get 342 = 38h/2. now we can times by 2 to get 684 and divide by 38 to get 18. or you can do 19h = 342 and get 18.

now if you substitute the 18 in the equation you end up with 342. so the answer is true

a man on rupees 15000 in a month. he spends rupees 3000 on food rupees 4000 on rent rupees 2000 on its children's education and the rest he saves in a bank
(I) Express separately the expenditure on food rent and education in percent
(ii) what is his savings percent every month



i will give brainliest who solves more clearly for me​

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Answer:

132000

Step-by-step explanation:

do you understand it

Dewayne waters his plant with 0.76 quart of water every other day. Write the amount of water he uses in word form and as a fraction.​

Answers

Answer:

In word form ----> Seventy-six percent

As a fraction -----> 76/100

PLS HELP ITS URGENT

I look like this: _ _ _ . _ _

My hundreds digit equals the sum of my tenths and ones digits.
My hundredths digit is one more than my hundreds digit.
One of my digits is zero.
My tenths and ones digits are equal.
My overall value is less than 500.

What number am I?

Answers

Answer:

input 201.13 but both are correct.

Step-by-step explanation:

Interesting question. There are 2 numbers that satisfy all the conditions.

201.13

402.25

I can't tell you which one to accept as the answer. Both are right.

The tens digit is  not mentioned. So it must be zero.

The hundredths digit is one more than the hundreds digit

3 is 1 more than 25 is 1 more than 4

The tenths and units digit are equal both are 1 in 201.13 and 2 in the other number.

Both numbers are under 500

When a number and its _________ are added, the sum is ______.

Answers

Answer:

When a number and its pair are added, the sum is greater

what is the measure of angle JKM
10 points PLEASE​

Answers

Answer:

(12x+3) + (6x-3)=90 can pass to

18x=90 you divide both sides by 18

And you get x=5

Dave's family went to the beach. They got to the beach at 1:45 P.M. and swam in the ocean
for 1 hour and 13 minutes. Then they built sand castles for 35 minutes and played volleyball
for 1 hour and 35 minutes before heading home. What time was it when Dave's family left
the beach?

Answers

Answer:

5:08 PM

Step-by-step explanation:

1:45 plus 1 hour and 13 minutes equals 2:58. 35 minutes added to 2:58 equals 3:33. Finally 3:33 PM added to 1 hour and 35 minutes equals 5:08 PM.

Which of the following is a common multiple of 4 and 10?
A 100
B 104
C 90
D 110

Answers

A 4x25=100 10x10=100 making 100 a common multiple of 4 and 10.

Answer:

A) 100

Step-by-step explanation:

When looking for a common you can move up the times tables of each number until you find a matching pair. 10x10=100 and 4x25=100. By looking for common answers through the times tables you can more easily find a common multiple.

You have 2 cups of ketchup. You need 2 Tbsp to make one serving of barbecue sauce. How many servings can you make?

Answers

You can make 16 servings of barbecue sauce!! 2 U.S. cups = 32 U.S. tablespoons
when you divide 32 by the 2 tbsp, you get 16 servings.

Here we need to perform a change of units to see how many servings can we make. We will see that we can make 48 servings.

Change of units:

We know that we have 2 cups of ketchup and we need 2 tbsp to make a serving, so to see the total number of servings that we can make, we need to see how many teaspoons we have in 2 cups.

We can use the relation:

1 cup = 48 teaspoons.

Then:

2 cups = 2*(48 teaspoons) = 96 teaspoons.

And we need 2 per serving, then we can make a total of:

96/2 = 48 servings.

If you want to learn more about change of units, you can read:

https://brainly.com/question/9032119

Let f(x) = -3x and g(x) = 2x-1
Find the following:
(fog)(1)

Answers

Step-by-step explanation:

steps are in picture above.

Note : if you have any confusion let me know.

9514 1404 393

Answer:

  -3

Step-by-step explanation:

  [tex](f\circ g)(1) = f(g(1)) = f(2\cdot1-1) = f(1)=-3\cdot1\\\\\boxed{(f\circ g)(1)=-3}[/tex]

please help with the screenshot

Answers

Answer:

x = 10.73

Step-by-step explanation:

[tex] \sin(59) = \frac{9.2}{x} [/tex]

[tex]x = \frac{9.2}{ \sin(59) } = 10.73[/tex]

Answer:

10.73

Step-by-step explanation:

D= 180°-90°-59° = 31°

cos31° = 9.2/x

x = 10.73

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