1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alja [10]
1 year ago
7

If Samatha finances the entire cost of a $700 bike at an APR of 2.95%, how much will she end up paying in total for the bike aft

er paying off her loan in 2 years
Business
1 answer:
12345 [234]1 year ago
4 0

Based on the interest rate, the cost of the bike, and the period of payment, Samatha will pay $721.71.

<h3>What will Samatha pay?</h3>

Samatha will pay a certain amount monthly. That amount can be found as:

Loan amount = Amount x ( 1 - ( 1 + rate) ^-number of periods) / rate

Solving gives:

700 = Amount x ( 1 - (1 + 2.95%/12) ⁻²⁴ / 2.95%/12 months)

Amount = 700 /  ( 1 - (1 + 2.95%/12) ⁻²⁴ / 2.95%12 months)

= $30.07

Total amount paid by Samatha:

= 30.07 x 24 months

= $721.71

Find out more on loan payments at brainly.com/question/26011426.

You might be interested in
How was everyone's day?
RUDIKE [14]
It was good, I just despise homework
3 0
2 years ago
Read 2 more answers
A consumer is making purchases of products Alpha and Beta such that the marginal utility of product Alpha is 30 and the marginal
sp2606 [1]

Answer:

Should purchase or consume more Alpha than Beta.

Explanation:

Marginal utility per dollar spent can be calculated as,

Alpha = 30/5 = 6/$ spent

Beta = 40/10 = 4/$ spent

Therefore maximizing utility in a given budget constraint would be achieved by buying or consuming more of Alpha.

7 0
3 years ago
A Broker Price Opinion (BOP) and Competitive Market Analysis (CMA) are estimates of value created by real estate licensees for m
dimulka [17.4K]

Answer:

This evaluation was prepared by a licensed real estate broker and is not an appraisal. This evaluation cannot be used for the purposes of obtaining financing.

Explanation:

4 0
3 years ago
These expenditures were incurred by Sheffield Corp. in purchasing land: cash price $86,000, assumed accrued taxes $3,200, attorn
boyakko [2]

Answer: $‭99,300‬

Explanation:

The cost of the land includes the actual purchase price and every expense incurred to get it ready for use.

These include;

= Cash price + Accrued taxes + Attorney fees + Real estate broker’s commission + clearing and grading

= 86,000 + 3,200 + 2,600 + 1,800 + 5,700

= $‭99,300‬

5 0
3 years ago
Marigold Corp.budgeted manufacturing costs for 70000 tons of steel are: Fixed manufacturing costs $50000 per month Variable manu
Nataly [62]

Answer: $290,000

Explanation:

Flexible budget for 20,000 tons:

Fixed manufacturing costs (Period costs constant irrespective of tons produced) $50,000

Variable manufacturing costs

($12 × 20,000) $240,000

Total Manufacturing costs for 20,000 tons will be:

$50,000 + $240000 = $290,000

Note: Variable costs varies based on the number of units produced whereas Fixed costs are the period costs that are constant irrespective of units produced.

7 0
3 years ago
Read 2 more answers
Other questions:
  • MC Qu. 122 Marian Corporation has two... Marian Corporation has two separate divisions that operate as profit centers. The follo
    11·1 answer
  • 2. You have been asked to identify the various segment in the market and then a potential targeting strategy. Describe the segme
    12·1 answer
  • If the amount of "Cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs for the period, t
    12·1 answer
  • Name at least four factors that a lender investigates when considering whether you are creditworthy.
    5·2 answers
  • What are some of the pathways in the Agriculture, Food, and Natural Resources career cluster? Check all that apply.
    11·2 answers
  • Sue and Andrew form SA general partnership. Each person receives an equal interest in the newly created partnership. Sue contrib
    11·1 answer
  • when a company has performed a service but has not yet recieved payment,what is the required journal entry to be recorded
    13·1 answer
  • The price of a Honda Accord
    9·1 answer
  • What website can i buy custom nikes on​
    15·2 answers
  • olmstead industry has 9.40% coupon bonds outstanding with a price of $1,023.58. interest is paid semiannually and the yield to m
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!