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4 years ago

You take out a $10,000 loan to purchase a used car. You have the choice to pay

Business

1 answer:

jenyasd209 [6]4 years ago

3 0

Answer:

Car Loan Calculator

a) Option B has a higher monthly payment. It pays back $291 per month, whereas Option A pays back $189.

b) Option A has you pay more in total. It pays back a total of $11,323 as against Option B's $10,469.

c) I prefer Option B's payment method. I will save $854 ($11,323 - $10,469) and exit the loan bondage faster.

Explanation:

Using the Google car loan calculator, I obtained the following results:

Options:

a) pay back the loan at 5% interest for 60 months (5 years):

Car loan calculator

Monthly cost Maximum loan

Loan amount

$10,000

Interest rate (%) 5

Loan period (months) 60

Total cost of car loan$11,323

Monthly payments$189

b) pay back the loan at 3% interest for 36 months (3 years):

Car loan calculator

Monthly cost Maximum loan

Loan amount $10,000

Interest rate (%) 3

Loan period (months) 36

Total cost of car loan$10,469

Monthly payments$291

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Michigan Cranberry Company sold $10 million worth of cranberries it produced. In producing cranberries, it purchased $1 million

rusak2 [61]

Answer:

The answer is: $9 million

Explanation:

The gross domestic product includes all the final and legal goods and services produced in an economy during one year.

Michigan Cranberry produced $10 million worth of cranberries, but in doing so, it imported $1 million worth of supplies from other countries. Cross border labor is included in the GDP.

The net addition of Michigan Cranberries to the US GDP is: $10 million - $1 million (imported supplies) = $9 million

8 0

3 years ago

The free-rider problem; A. Arise from the ability to exclude an individual from the benefits of someone else's purchase B. Is a

ololo11 [35]

Answer: C. Reflects the inability to exclude an Individual from the benefits of someone else's purchase.

Explanation:

The Free-rider problem is a concept in economics that describes the fact that sometimes people benefit from goods and services that they wither did not pay for or underpaid for.

There has been a failure to exclude those individuals who are free-riding from the benefits of goods and services that other people are paying for. A simple example of the free-rider phenomenon is using Wikipedia. Most of those who use it do not contribute or pay for its upkeep in any way yet reap the benefits of its extensive information.

8 0

3 years ago

Wattan Company reports beginning inventory of 10 units at $60 each. Every week for four weeks it purchases an additional 10 unit

qwelly [4]

Answer:

cost of goods available for sales= $3,180

Number of units= 50 units

Explanation:

Giving the following information:

Wattan Company reports beginning inventory of 10 units at $60 each. Every week for four weeks it purchases an additional 10 units at respective costs of $61, $62, $65, and $70 per unit for weeks 1 through 4.

To calculate the cost of goods available for sales, we need to use the following formula:

cost of goods available for sales= beginning inventory + cost of goods purchase during the year

cost of goods available for sales= 10*60 + 10*61 + 10*62 + 10*65 + 10*70

cost of goods available for sales= $3,180

Number of units= 5*10= 50 units

5 0

3 years ago

The unemployment rate in the United States is usually ________ than the unemployment rates in most other high-income countries

bogdanovich [222]

Answer:

The answers are:

lower
more stringent

Explanation:

In order for an individual to be considered unemployed, the individual must be over 18 years old, be currently out of job, but actively seeking a new job.

The current unemployment rate in the US is 3.7% (as of August 2019) while the unemployment rate in the EU is 6.2%.

In order for an individual to collect unemployment benefits, usually he or she must meet the following requisites:

They must be out of work through no fault of their own.
They must meet minimum earnings or job tenure requirements.
They must be able, available, and actively seeking work.

4 0

3 years ago

identify the reason(s) that accountants use a sales returns and allowances account: multiple select question.

Sloan [31]

The reason(s) that accountants use sales returns and allowances account to keep a complete record of sales returns and allowances to calculate operating efficiency.

An accountant is a practitioner of accounting or accountancy. Accountants who have verified competency through their expert associations' certification exam ·rely on ·ing ə-: the device of recording and summarizing commercial enterprise and monetary transactions and reading, verifying, and reporting the effects. also: the principles and tactics of this gadget. they studied accounting as a freshman. : work executed in accounting or by using accountants.

An Accountant facilitates agencies making critical monetary decisions by collecting, tracking, and correcting the corporation's budget. they may be accountable for economic audits, reconciling financial institution statements, and making sure financial information is correct for the duration of the yr.

Learn more about accountants here: brainly.com/question/25568979

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5 0

1 year ago