If you say $4500 at an interest rate of 13% per year, how much will you have at the end of seven years

Delilah purchased a wheelchair with an installment loan that has an APR of 18 percent. The wheelchair sells for $2,007. The stor

alukav5142 [94]

Answer:

$748.48

Explanation:

Cost of wheelchair = $2,007

Down payment = Cost of wheelchair*20% = $2,007*20% = $401.40

Amount of finance = Cost of wheelchair - Down payment = $2,007 - $401.40 = $1,605.60

Interest rate = 18% * 1/12 = 1.5%per month

Term = 54 month

Monthly payment = Amount of finance*I/[1-(1+I)^-n]

Monthly payment = $1,605.60*1.5%/[1-(1+1.5%)^-54]

Monthly payment = $1,605.60*1.5%/[1 - 0.447541]

Monthly payment = $1,605.60*0.015/0.55246

Monthly payment = $43.59411

Total amount paying for loan over a period = Monthly payment * Term = $43.59411 * 54 = $2354.08

Amount of finance charge = Total amount paying for loan - Amount of loan

Amount of finance charge = $2354.08 - $1,605.60

Amount of finance charge = $748.48

5 0

3 years ago

The town of Harmonia gives away all 500 tickets to its annual Founder's Day Free ConcertminusinminustheminusPark to local resid

Novosadov [1.4K]

sold 500 tickets therefore it is not economically efficient

4 0

3 years ago

Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 30,000 units follow

AnnyKZ [126]

Answer:

1. Variable cost per unit = $150

2. Markup percentage = 34.89%

3. Selling price = $202.33

Explanation:

Variable cost per unit = 70+40+25+15= $150

Fixed cost = 670,000+ 305,000 +285,000= $1,260,000

Fixed cost per unit = 1,260,000/30,000= $42

Profit per unit = Targeted profit

Targeted production unit

= $310,000 =$10.33

30,000

Markup percenge = Fixed cost per unit + profit per unit

Variable cost per unit

=$42+ $10.33 = 52.33 * 100 = 34.89%

$150 $150 1

Selling Price = Variable cost per unit + markup

= $150+$42+$10.33

= $202.33

Variable cost-plus pricing is calculated by determining variable costs per unit and adding mark-up which will cover fixed costs per unit and generate a targeted profit margin.

3 0

3 years ago

Read 2 more answers

Dew wanted to create a campaign based on its core concept of diy. they ran multiple contests and created nations and communities

ruslelena [56]

By doing this, Dew was able to create a stronger bond with the customer and their brand. They already have brand awareness with their customers but now they are able to engage their customers by allowing them to have a "say" in their products. They are letting them design a product they would like to see on the market and become a part of the brand/company.

8 0

3 years ago

Professional athletes attempting only to maximize income will defer larger salaries if:

GenaCL600 [577]

Professional athletes attempting only to maximize income will defer larger salaries if DEFERRED PAYOUTS ARE ADJUSTED UPWARD TO COMPENSATE FOR FOREGONE INTERESTS.
If professional athletes, whose sole aim is larger income are asked to wait for sometime before collecting their salaries, with the promise that their incomes will be raise for the period of their waiting, then, most of them will gladly agree to the arrangement, since, they are sure of higher amounts.

4 0

2 years ago