Blog

Eagle Corp. issues a $842,472, 6% 5 year notes payable on January 1, 2024.  The note will be repaid in five annual installments of $200,000, each payable at the end of the year (i.e. $200,000 at the end of 2024, $200,000 at the end of 2025, etc.).  What is the amount of interest expense that should be recorded by Eagle Corp. in the second year (i.e. on the income statement for the year ended December 31, 2025)? You must use the honorlock calculator to solve the problem. (round to the nearest dollar).   Answer:  $_______

In April 2024, Drake University contracted with Tom to teach four Employment Law courses from Sept. 2024 to until June 2025. Must the contract be in writing to be enforceable?

On January 1, 2024 Eagle Corp. issued $3,000,000, 12 year, 10% bonds.  The bonds pay interest semi-annually.  At the time of issuance the market rate of interest is 6%.  Calculate the issue price of the bond.  You must use the honorlock calculator to solve the problem. (Use the appropriate factor tables and round to the nearest dollar).   Answer:  $_______

On January 1, 2024, Eagle Corp. issued $6 million, 10 year, 8% bonds with interest to be paid annually.  Eagle Corp. issued the bonds for $6,504,953 since the market rate of interest was 6% on the issue date.  What is the total amount of interest expense that Eagle Corp. should report on its December 31, 2025 income statement? You must use the honorlock calculator to solve the problem. (round to the nearest dollar). Answer:  $_______

Sue is frustrated with her 10 acres of land because she has had four bad years in a row trying to grow grapes. (The fair market value of the land is $200,000.) In frustration, while at a bar, she yells that she will sell her 10 acres of land to anyone for $100. Carrie hears this and hands her $100 and says, “I accept your offer.” This is 

match 

You are about to purchase a house for $750K, making a down payment of 20%, and taking out a 15-year mortgage at 8.00% APR for the remaining amount. All of a sudden, our politicians are proposing to make housing “more affordable” by incentivizing you to take out a 50-year mortgage. Having taking Business Finance, you know that total interest paid on the longer-term loan will bigger than a toddler’s bedtime to-do list.  Calculate, how much more in total interest you’re expecting to pay on the 50-year mortgage compared to 15-year mortgage. Assume other terms being same, with standard conditions (monthly end-of-month payments). Submit your answer in dollars, rounding your answer to the nearest penny ($0.01).

A clinic uses an ELISA to screen a patient’s serum for antibodies against a particular bacterial pathogen. The wells in a 96-well plate are coated with bacterial antigen, then patient serum is added, followed by an enzyme-linked antibody and substrate. Some wells show a strong color change. Which interpretation best synthesizes the principles of ELISA?

A patient with recurrent UTIs reports that she often “holds it” for long periods during work and drinks very little water. Which explanation best uses the urinary defenses described in the module to explain her risk?

Sue is frustrated with her 10 acres of land because she has had four bad years in a row trying to grow grapes. (The fair market value of the land is $200,000.) In frustration, while at a bar, she yells that she will sell her 10 acres of land to anyone for $100. Carrie hears this and hands her $100 and says, “I accept your offer.” This is