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netineya [11]
1 year ago
12

the cost of an automobile is $9,000 and after a period of three years it will have an estimated salvage value of $5,200. a down

payment of $1,000 will be used to purchase the car. it is desired to make the monthly payments, at 12% interest, a value such as to reduce the unpaid balance to exactly the amount of the salvage value after three years. what is the amount of the monthly payment?
Business
1 answer:
Kisachek [45]1 year ago
6 0

Salvage fee is the expected book fee of an asset after depreciation is complete, primarily based totally on what a corporation expects to get hold of in alternate for the asset on the quit of its beneficial life.

The required details for  salvage value in given paragraph

Value of Factors given in query are wrong, accurate values are given below

(P/F,1%,36) = zero.698925

(A/P,1%,36) = zero.033214

Loan amount = 9000 -1000 = 8000

Present really well worth of salvage fee = 5200*(P/F,1%,36) = 5200 * zero.698925 = 3634.41

Required mortgage to be repaid over three yrs = 8000 - 3634.41 = 4365.59

Monthly payment = 4365.59 * (A/P,1%,36) = 4365.59 * zero.033214 = 144.9987 ~ 145.

An expected salvage fee may be decided for any asset that a corporation can be depreciating on its books over time. Every corporation may have its very own requirements for estimating salvage fee. Some agencies might also additionally select to constantly depreciate an asset to $zero due to the fact its salvage fee is so minimal. It is primarily based totally at the fee a corporation expects to get hold of from the sale of the asset on the quit of its beneficial life.

In a few cases, salvage fee might also additionally simply be a fee the corporation believes it is able to achieve with the aid of using promoting a depreciated, inoperable asset for parts.

To know about salvage value click here

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sesenic [268]

Answer:c

Explanation:

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3 years ago
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A licensed _______________ must display his or her license conspicuously in the principal place of business at all times.
creativ13 [48]

Answer:

Broker

Explanation:

A licensed broker must dispaly his or her name boldly in their primary place of business at all times becasue it helps to identify a broker quickly as well as has gives confidence to customers to transact business with them.

Cheers.

3 0
3 years ago
arasota Company obtained land by issuing 3,380 shares of its $12 par value common stock. The land was recently appraised at $146
likoan [24]

Answer:

Dr Land $146,440

Cr Common stock (3,380 shares×$12 par value) $40,560

Cr Paid in Capital in excess of Par common stock $105,880

Explanation:

Arasota Company Journal entry

Dr Land $146,440

Cr Common stock (3,380 shares×$12 par value) $40,560

Cr Paid in Capital in excess of Par common stock $105,880

4 0
3 years ago
A purchaser paid $403.10 for a TV that cost the seller $290. If the seller's markup was 39% of the $290 cost, then what would be
CaHeK987 [17]

Percent markup based on the selling price: 28.1%

Explanation:

The cost of the TV for the seller was

c=\$290

Of this, the markup of this price was 39%. Therefore, the value of the markup (in dollars) with respect to the cost for the seller was

m=0.39\cdot 290 =\$113.1

So, this was the markup relative to the cost for the seller.

The price paid by the purchaser instead is

p=\$403.1

Therefore, the percent markup based on the selling price (paid by the purchaser) is:

\frac{m}{p}\cdot 100 = \frac{113.1}{403.1}\cdot 100 =0.281\cdot 100 = 28.1\%

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5 0
3 years ago
A company is considering replacing an old machine, which has a market value of $75,000 and a tax basis of $50,000. The new machi
sp2606 [1]

Answer:

$90,500

Explanation:

The computation of initial cash outlay is shown below:-

initial cash outlay = New machine cost + Increase in working capital - After tax salvage value

= $145,000 + $12,000 - (($75,000 - ($75,000 - $50,000) × 0.34

= $145,000 + $12,000 - $66,500

= $90,500

Therefore for computing the initial cash outlay we simply applied the above formula.

8 0
3 years ago
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