On January 1, 2020, Ann Price loaned $187825 to Joe Kiger. A zero-interest-bearing note (face amount, $250000) was exchanged solely for cash; no other rights or privileges were exchanged. The note is to be repaid on December 31, 2022. The prevailing rate of interest for a loan of this type is 10%. The present value of $250000 at 10% for three years is $187825. What amount of interest income should Ms. Price recognize in 2020

$18,783

Explanation:

Ann Price loaned to Joe Kiger × Rate of Interest

Ann Price loaned to Joe Kiger$187,825

Rate of Interest 10%

Hence;

$187,825 × .10

= $18,783

Therefore amount of interest income should Ms. Price recognize in 2020 will be

$18,783

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; swot analysis;