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kumpel [21]
3 years ago
14

Background information: Car purchase cost: $25,000 Sum of Fuel and Maintenance Cost at End of Year 1: $2,000 Incremental increas

e in Fuel and Maintenance Cost after Year 1: $250/year (i.e. Fuel and Maintenance Cost at End of Year 2 is $2,250, End of Year 3 is $2,500, and so on). (a). (1 pt.) Suppose that you can get a car loan at 6.9% annual, compounded monthly, for a term of 60 months. You put down $5,000 and you finance the remaining $20,000. What is the monthly payment ($/month)
Business
1 answer:
julia-pushkina [17]3 years ago
4 0

Answer:

$395.08

Explanation:

Given that

Annual loan = 6.9%

Compounded months = 60

Remaining finance = $20,000

The computation of monthly rate is as shown below :-

Monthly payment =  Loan Amount ÷ Present value annuity factor of 0.575% at 60 months

= $20,000 ÷ 50.6225

= $395.08

Refer to the Present value annuity factor table.

The monthly rate

= 6.9% ÷ 12

= 0.575%

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On January 1, 2020, National Retail purchased $100,000 of GEH Company bonds at a discount of $10,000. The GEH bonds pay 6% inter
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Answer:

Cr Interest revenue $3,624

Explanation:

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Dr Cash 3,000

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the second coupon payment:

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4 0
3 years ago
Which of the following statements correctly describes how accounting helps managers? Select one: a. Accounting provides better w
il63 [147K]

Answer:

The correct answer is letter "B": Accounting centralizes and organizes processes.

Explanation:

Managerial Accounting is internally-based accounting that helps managers measure the results of their decisions. This is in contrast to financial accounting which emphasizes in more general, higher-level financial results of the company.  

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8 0
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An outside supplier has offered to sell 23,000 units of part S-6 each year to Han Products for $22 per part. If Han Products acc
sesenic [268]

Answer:

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Fixed manufacturing overhead       69000  

Opportunity cost                               73000  

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Answer:

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Current access control rosters should be authenticated by the manager or their designated representative. True False
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TRUE

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