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Komok [63]
1 year ago
11

Scott+stratton+recently+purchased+a+car+for+$22,500.+it+will+depreciate+at+a+rate+of+7%+per+year.+what+will+his+car+be+worth+in+

5+years+when+it+is+paid+off?
Business
1 answer:
ICE Princess25 [194]1 year ago
3 0

The cost of the car after 5 years from then, will be $15652.99.

Given here, the depreciation every year(r) 7%  or 0.07per year, asset cost (of the car) is $22,500 and time period (n) is 5 years.

The value after 5 years can be calculated as,

Depreciated value = asset cost ×(1-r) n

= 22500 × (1-0.07) 5

= 15652.99$.

Thus, the car worths 15652.99$ after 5 years.

The worth of an asset after its useful life is expired, as it is diminished over time by depreciation, is its depreciated cost. The asset’s worth is continuously diminished by figuring out how much it will cost to depreciate it, but the depreciated cost technique always permits accounting records to represent an item at its current value.

Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life.

To learn more about Depreciation, refer this link.

brainly.com/question/24218291

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aliina [53]

If an individual is in financial difficulty due to which she cannot be able to pay their loans, in that case, she can ask the creditor for a lower payment plan.

<h3>What is meant by a loan?</h3>

A loan occurs when an individual who is in need of funds takes the money from the lender. The amount taken is required to be paid back along with interest.

The lower payment plan can be made by the creditors from whom she has taken the loan. She must explain her financial hardship regarding the non-payment of their current loans so that the creditor can reduce the payments accordingly. This means negotiating the loan payments in equal monthly installments as per her financial capability.

Therefore, she can ask for the minimum payment plan from the creditors in order to pay off her loans.

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3 0
2 years ago
One primary focus of substantive tests in the finance and investment cycle is on:
Arlecino [84]
This Finance Test is designed to help you assess your knowledge on important finance concepts, terminology definitions, and frequently used calculations. We strongly encourage any students who are planning or are beginning their FMVA certification program to take this test to determine whether you will need to take the prerequisite finance courses including Reading Financial Statements, Introduction to Corporate Finance, and Math for Corporate Finance. This is also a useful resource for employers to examine the technical knowledge of the candidates during a finance interview.

If you pass this test with 80% or above (16 questions or more), it is likely that you have a strong background in finance and are good to go ahead with our core courses!

 



 

Finance Test Questions

1. The concept of present value relates to the idea that*

The discount rate is always higher when you invest now than in the future

The discount rate is always higher when you invest in the future than now

The money you have now is worth less today than an identical amount you would receive in the future

The money you have now is worth more today than an identical amount you would receive in the future

2. The formula for calculating future value (FV) is*

FV = PV/(1+r)^n

FV = PV/(1+r)*n

FV = PV x (1+r)^n

FV = PV x (1+r)*n

3 0
3 years ago
Assume the economy is operating at less than full employment. An expansionary monetary policy will cause interest rates to _____
adoni [48]

When the economy is not at full employment and an expansionary monetary policy is followed:

  • Interest rates decrease
  • Investment spending increases

When there is an expansionary monetary policy in place, more money is pumped into the economy which means that there are more loanable funds. This increase in the supply of loanable funds will decrease the interest associated with them.

As a result of interest rates being lower, more businesses and people will be able to borrow money and invest in projects thereby increasing investment spending.

In conclusion, there will be an increase in investment spending due to a decrease in interest rates.

<em>Find out more at brainly.com/question/2343055. </em>

7 0
2 years ago
A manufacturer supplies a ______ lease while an independent leasing company provides a ______ lease.
Lynna [10]

A producer supplies an income-type rent at the same time as an independent leasing business enterprise gives an instantaneous.

Unbiased humans have a mind of their very own. it's far due to this exceptional that their ideals and principles are nicely-rooted and can't be easily swayed with the aid of the critiques of others. Any selection they take is primarily based on what they believe and not on the expectations or judgments of society.

It promotes self-belief and in addition to motivation and perseverance in college. It fosters self-reliance, permitting your toddler to feel they've been manipulated over their existence. A girl who supports herself on her own entirely and is proud in order to achieve this could be seen as being impartial. An independent woman is aware of what she feels, says what she actually believes, and lives real to her personal values. She owns her very own power and looks out for herself.

Learn more   about independence here:

brainly.com/question/25223322

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6 0
1 year ago
A company purchased $6,500 of merchandise on May 1 with terms of 2/10, net 30. On May 6, it returned $500 of that merchandise. O
viktelen [127]

Answer:

The cash paid on May 8 is: $5,880

Explanation:

Credit terms of 2/10, net 30 means that 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

The company purchased $6,500 of merchandise on May 1. On May 6, it returned $500 of that merchandise.

The balance owed for merchandise = $6,500 - $500 = $6,000

On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to.

The company took the appropriate discount:

2% x $6,000 = $120

The cash paid = $6,000 - $120 = $5,880

5 0
3 years ago
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