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In 2013, Amana sold 10 refrigerators that cost $825 each, for a price of $1 285 each. Payments are made in 10 equal instalments, with no down payment. During 2014, Amana collected $10 285 on the 2013 sales. Using the instalment method and assuming an interest rate of 10%, how much gross profit will Amana recognise in 2014?
Happiness
A state of well-being and contentment characterized by positive or pleasant emotions ranging from contentment to intense joy.
Emotional Intelligence
The skill to recognize, govern, and articulate personal emotions, in addition to conducting oneself sensibly and with empathy in relationships with others.
Emotional Competencies
Skills in recognizing, understanding, and managing our own emotions and those of others, crucial for personal and professional relationships.
Succeed
To achieve a desired goal or end, often through effort or skill.
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