BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gross Balance
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Current Increased Balance
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A. Commission
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Down payment
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Detailed explanation-1: -The amount of interest earned on an investment or due on a loan is calculated using I = Prt. This formula can also be used to determine: the amount of principal (P) that needs to be invested in order to earn a certain amount of interest over a certain period of time.
Detailed explanation-2: -The time period or term is the length of the financial transaction for which interest is charged or earned.
Detailed explanation-3: -✓ CURRENT INCREASED BALANCE refers to the total amount you have. to pay that includes penalties or interest incurred by unpaid balance from a loan or payment you are supposed to have made but was not able to do so on time.
Detailed explanation-4: -Just take the sale price, multiply it by the commission percentage, and divide it by 100. An example calculation: a blue widget is sold for $70 . The salesperson works on a commission-he/she gets 14% out of every transaction, which amounts to $9.80 .