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Marrrta [24]
2 years ago
11

Tracy purchased a car for $19,500. She is financing the purchase at an 11% annual interest rate, compounded monthly for 3 years.

What is the payment that Tracy is required to make at the end of each month
Business
1 answer:
NemiM [27]2 years ago
5 0

Based on the cost of the car and the interest rate, the amount Tracy is to pay is $638.41.

<h3>How much should Tracy pay?</h3>

The cost of the car is the present value of an annuity because Tracy's payment will be constant.

First find the monthly rate:

= 11% / 12 months

= 0.92%

The number of periods:

= 3 x 12 months

= 36 months

Amount to be paid is:

19,500 = Amount x (1 - ( 1 + 0.92%) ⁻³⁶) / 0.92%

Amount = 19,500 / 30.544874328

= $638.41

Find out more on the present value of an annuity at brainly.com/question/25792915.

#SPJ1

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Lorenzo and Lila own all of the Double L Corporation's stock. The stock of this corporation is not sold to the general public. L
ladessa [460]

Owners of the company.

<h3>What is a stock of a company?</h3>
  • A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company.
  • Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
<h3>What is an owner of a company?</h3>
  • A company's "owner" is a person who owns all of the shares.
  • In contrast, a "co-owner" shares ownership of a business with one or more partners.
  • The owner, who is frequently the company's founder, is free to run their business however they like.

Therefore, Lorenzo and Lila are owners of the Double L Corporation.

Know more about stocks here:

brainly.com/question/1957305

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6 0
2 years ago
Goods Guys Foods established a trust fund that provides $125,000 in scholarships each year for needy students. The trust fund ea
antiseptic1488 [7]

Answer:

$1,724.138

Explanation:

Given:

Payment received each year = $125,000

Rate of return = 7.25 % = 0.0725

Present value = ?

Computation of Present value:

Present value = Payment received each year / Rate of return

= $125,000 / 0.0725

= $1724137.93

Present value = $1724137.93

Present value = $1,724,138 (approx)

Therefore, firm have to contribute  $1,724.138

5 0
3 years ago
Which of the following is not a type of informal report?
lozanna [386]

D feasibility is your best answer

Feasibility means "easily or conveniently done", which is not a extremely formal way of finishing things.

Complaints generally are formal, for you are trying to do business.

Progress brings formatility, for it must be formal and formatted for success.

Troubleshooting also needs formality, so that one can solve the problem as soon as possible

hope this helps

8 0
2 years ago
Which of the following asset accounts is increased when a receivable is collected? a.Accounts Payable b.Supplies c.Cash d.Accoun
Nikitich [7]

Answer:

(C) Cash

Explanation:

Receivables means deptors. These are obligations that has been honoured and value given, but you're yet to get cash. Receivables are seen as such. So the things you've given value to and you're yet to receive cash or payment for are receivables.

So when receivables are collected, then the asset account Cash is increased.

On the Delivery of goods or Services, the company debits Accounts Receivable and credits what is known as Sales Revenues or Service Revenues. When an account receivable is collected say 30 days later, the account receivables is reduced and the Cash or bank account is increased.

7 0
3 years ago
Which element of the marketing mix is most relevant to the activity "creating value"? select one:
defon
The answer is "price".

The marketing mix alludes to the arrangement of activities, or strategies, that an organization uses to advance its image or item in the market.There are 4 p's included in the marketing mix, that are; promotion (communicating value), product (creating value), price (capturing value), and place (delivering value).
7 0
2 years ago
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