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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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Rideshare, an on-demand transportation company, offers free rides to political marches for its ridership. this decision is a ___
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Rideshare, an on-demand transportation company, offers free rides to political marches for its ridership. this decision is a microeconomic issue. Micro economics is the study of how people, households, and businesses make decisions and distribute resources. It mainly pertains to markets for products and services and addresses both personal and financial concerns.

Microeconomic difficulties. The ability of economic actions to have an impact on those not involved in the transaction is one of the most common issues. For instance, if you use coal to generate power, the pollution has an impact on people all over the world (acid rain, global warming).

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7 0
2 years ago
Rice Company has a unit selling price of $650, variable costs per unit of $450, and fixed costs of $319,700. Compute the break-e
Alex

Answer:

a) Using mathematical equation 1599 units

b) Using contribution margin 1598 units

Explanation:

Break even point in units in mathematical terms = \frac{Fixed cost}{Selling price - Variable Cost}

= \frac{319,700}{650 - 450} = \frac{319,700}{200} = 1599 units

b) Using contribution margin

Contribution = Selling Price - Variable Cost = $650 - $450 = $200

Contribution margin = ( $200/ $650 ) X 100 = 30.77%

BEP = $319,700 / 30.77% = $1,039,000.025

Number of units = $1,038,999.025/$650 = 1598 units

a) Using mathematical equation 1599 units

b) Using contribution margin 1598 units

4 0
3 years ago
A South Korean firm wants to hedge against unpredictable movements in foreign exchange rates which can make the global capital m
nalin [4]

Answer:

the company should enter into a forward contract.

Explanation:

Based on the information provided within the question it can be said that the in order to achieve this the company should enter into a forward contract. This is a type of contract entered by two parties in which one is obligated to buy while the other is obligated to sell at a fixed price and at a future date regardless of changes in circumstances or economy. Therefore reducing the market risk that they buyer is exposed to.

7 0
4 years ago
A mirror should be centered on a wall. The mirror is 4 feet wide and the wall is 20 feet wide. Which equation helps determine th
andriy [413]

Answer:

A).  x + 4 + x = 20

<u>Multiple-choices</u>

A).  x + 4 + x = 20

B).  4 + x + 4 = 20

C).  x = 20 + 4 + 4

D).  4 = 20 + x + x

Explanation:

The mirror will be in the middle of a wall which is 20 feet wide.

If the mirror is 4 feet, then 4 will be in the middle.

X will be on either side of the 4feet mirror.

Therefore:

x + 4 + x =20

6 0
3 years ago
When the economy is experiencing an expansionan expansion automatic stabilizers will​ cause:
just olya [345]
<span>When the economy is experiencing an expansion automatic stabilizers will​ cause transfer payments to decrease and tax revenues to decrease.  A transfer payment is a payment that is made but no goods or services are being paid for. Automatic stabilizers are policies and programs set up in the economy to offset the up and down of an economy to keep the government out of the situation on a daily basis. 


</span>
5 0
3 years ago
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