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Alja [10]
2 years 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]2 years 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.

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myrzilka [38]

Answer:

- All of the above

Explanation:

This is the best answer for this question because a poor credit score can result in difficulty finding a job, renting an apartment, and obtaining credit in the future.  I didn't see anything about higher interest charges, but one can logically conclude that that would also be affected

Hope this helps(:

3 0
3 years ago
Explain the difference between the proportional method and the incremental method of allocating the proceeds of lump-sum sales o
LenaWriter [7]

Answer:

When a company sells different securities together (this usually happens during mergers and acquisitions):

  1. and the price of all the securities is not certain, the incremental method will first allocate proceeds to the sale of securities whose price is actually certain. The remaining proceeds will be allocated to the securities whose price is uncertain. E.g. total sales $10 million, stocks worth $5 million were sold and bonds worth ? million were sold. The company will allocate $5 million to stocks and $5 million to bonds.
  2. and the price of all the securities is certain, the proportional method allocates the sales proceeds proportionally among the different securities sold. E.g. total sales $10 million, stocks worth $5 million were sold and bonds worth $3 million were sold. The company will allocate ($5/$8) x $10 million = $6.25 million to stocks and $3.75 to bonds.

6 0
3 years ago
Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
jeyben [28]

Answer:

Raise taxes

Explanation:

This will help reduce the amount of money in circulation because during recession money loses its value due to large amount of money in circulation

4 0
2 years ago
Your friend wants to open a clothing shop. A necessary capital resource is a
saw5 [17]

Answer: Your friend wants to open a clothing shop. A necessary capital resource is a <u>place to open the shop.</u>

Explanation: Capital is the element constituted by money and infrastructure, which are needed to take advantage of human and natural resources in the productive process, considered as essential by the capitalists, since without money and other economic resources, companies cannot settle and industries, because they need it to have facilities, furniture, machinery, buy raw materials, pay staff, and so on.

6 0
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One who buys, stores, and resells large quantities of goods
wel

Answer:

Merchant

Explanation:

They are profiters

5 0
3 years ago
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