Express company reported sales of $770,000 in the year 2013. interest expense for the year amounted to $10,800; income tax expense, $33,000; and selling and administrative expense, $14,000. the company reported net income after taxes of $42,000. compute the times interest earned ratio for the year. a) 6.94b) 2.60c) 7.94d) 9.24show your work; points will be awarded only if process to solve is shown.

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

u dumb boi

step-by-step explanation: