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MatroZZZ [7]
2 years ago
14

If Anna buys a car for $18,000 with a down payment of $2,000 and is given a 3-year loan with an APR of 5 percent and monthly pay

ments of $480, what is the dollar amount of the finance charge on this loan
Business
1 answer:
Y_Kistochka [10]2 years ago
6 0

Based on the amount that Anna bought the car and the down payment, the dollar finance charge on the loan is $1,280.

<h3>What is the dollar finance charge for Anna's loan?</h3>

This can be found as:

= (Monthly payment x 3 years x 12 months per year) - (Car price - Down payment)

Solving gives:

= (480 x 3 x 12) - (18,000 - 2,000)

= 17,280 - 16,000

= $1,280

Find out more on finance charges at brainly.com/question/3436429.

#SPJ1

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The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies.
Igoryamba

The statement "The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies." is false.

Sarbanes-Oxley Act placed the obligation of responsibility for a company's financial reporting squarely on the shoulders of its top executives in order to safeguard investors from corporate accounting fraud.

It required chief executive officers (CEOs) and chief financial officers (CFOs) to personally attest to the correctness of the information in financial reports and to affirm that controls and procedures were in place to evaluate and verify that accuracy.

In reality, CEOs and CFOs had to personally certify that financial reports complied with Securities and Exchange Commission(SEC) rules by signing them. Failure to comply with this might result in fines of up to $15 million and 20-year prison terms.

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Learn more about the Securities and Exchange Commission:

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3 0
1 year ago
How is a subsidy affect supply.
OlgaM077 [116]
How does a subsidy affect supply?
A subsidy by nature increases the purchasing power of the individual or class it is awarded to. It's like free money that can only be spent on certain things.
8 0
3 years ago
The tax treatment regarding the sale of existing assets that are sold for more than the book value but less than the original pu
8_murik_8 [283]

Answer:

capital gain tax liability

Explanation:

Capital gain tax is defined as the type of tax that is paid when the owner of an investment or asset makes a profit from its sale.

For example when the assets are sold for more than the book value but less than the original purchase price, there is a profit made that is called capital gain.

The tax applied to this capital gain is called capital gain tax liability.

6 0
3 years ago
Select all of the true statements regarding Gary Hamel's thoughts on management:
SIZIF [17.4K]

Answer: • management innovation is essential to future organizational success

• we must look at management as a process, and then make improvements and innovation ongoing and systematic

• much of management theory is dated and doesn't fit the current realities of organizational life

Explanation:

The true statements regarding Gary Hamel's thoughts on management are:

1. management innovation is essential to future organizational success

2. we must look at management as a process, and then make improvements and innovation ongoing and systematic

3. much of management theory is dated and doesn't fit the current realities of organizational life

According to Gary Hamel, yesterday's best practices of organizations can not be creative or adaptable for the business challenges tomorrow.

7 0
3 years ago
"A firm finances itself with 30 percent debt, 60 percent common equity, and 10 percent preferred stock. The before-tax cost of d
Nutka1998 [239]

Answer:

WACC = Ke(E/V) + Kd(D/V)(1-T)  + Kp(P/V)

WACC = 15(60/100) + 5(30/100)(1-0.3) + 10(10/100)

WACC = 9 + 1.05 + 1

WACC = 11.05%

Explanation:

Weighted average cost of capital is a function of cost of common stock and the proportion of common stock in the capital structure plus after-tax cost of debt and proportion of debt in the capital structure plus cost of preferred stock and the proportion of preferred stock in the capital structure.  Ke = Cost of equity or common stock, kd = cost of debt and kp = cost of preferred stock.

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3 years ago
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