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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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Andy just purchased a 2.5 acre vacant lot of land for $500,000. What was the price per square yard?
julsineya [31]

Andy just purchased a 2.5 acre vacant lot of land for $500,000. $41.32 per sq. yd price per square yard.

$500,000 ÷ 12,100 sq. yds. = $41.32 per sq. yd

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7 0
1 year ago
Familiar routes to and from commonly visited areas create an individual's:
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5 0
3 years ago
ndicate whether each of the following costs should be classified as a product cost or as an SG&amp;A cost in accordance with GAA
Leokris [45]

Answer:

 

Explanation:

The product cost is a combination of direct material cost, direct labor cost, and the manufacturing overhead cost. The manufacturing overhead cost is an indirect cost which is related to the factory expenses.

And, the SG&A cost is a sales, general ,and admin costs incurred to advertise the company's products so that it can accomplish its sales targets which can build a good reputation in the market.

So, the categorization is shown below:

Direct materials used in a manufacturing company. = Product cost

Indirect materials used in a manufacturing company. = Product cost

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Commissions paid to sales staff. = sales, general ,and admin costs

Interest on the mortgage for the company’s corporate headquarters. = sales, general ,and admin costs

Indirect labor used to manufacture inventory. = Product cost

Attorney’s fees paid to protect the company from frivolous law suits. = sales, general ,and admin costs

Research and development costs incurred to create new drugs for a pharmaceutical company. = sales, general ,and admin costs

The cost of secretarial supplies used in a doctor’s office. = sales, general ,and admin costs

Depreciation on the office furniture of the company president. = sales, general ,and admin costs

4 0
3 years ago
Which of the following was the result in Ackerman v. Sobol Family Partnership, LLP the case in the text involving whether the pl
nalin [4]

Answer:

Option B: That the agreement would be enforced because the plaintiffs' attorney had apparent authority to enter into the agreement

Explanation:

7 0
3 years ago
All of the following are indicators that the vendor is acting as an agent instead of as a​ principal, except: A. The other party
LenaWriter [7]

Answer:

The correct answer is  B. The vendor has latitude in establishing prices for the other​ party's goods or services.          

Explanation:

In an ideal scenario, both sellers and buyers should agree on the price and conditions of a product, in order to avoid speculation and subsequent conflicts. In the event that a seller is the one who has the freedom to decide the conditions such as price or distribution, he is acting as a commercial agent, since he is autonomously deciding on aspects that should correspond to the buyer as the main agent.

4 0
2 years ago
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