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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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Which of the following are government policies designed to deal with monopolies?
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All options apply

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4 0
3 years ago
The computer workstation furniture manufacturing that Santana Rey started in January is progressing well. As of the end of June,
zhenek [66]

Answer:

June Costs of the raw materials used  for each of the three jobs and in total.

                                  Job 602             Job 603        Job 604        Total

Direct materials            $ 900            $ 3,300        $ 2,700           6900

Explanation:

<u>Business Solutions</u>

                                          Job 602        Job 603        Job 604

Direct materials                 $ 1,500          $ 3,300        $ 2,700

Direct labor                           800              1,420              2,100

Overhead                              400                710                1,050

Job 602   May:  Costs

Direct Materials, $600;

Direct Labor, $180;

Overhead, $90

June Costs of the raw materials used  for each of the three jobs and in total.

                                  Job 602             Job 603        Job 604        Total

Direct materials            $ 900            $ 3,300        $ 2,700           6900

Job 602 total costs are $ 1500 and raw materials costs in May are $ 600. The remaining $ 900 is consumed in June.

Raw materials Job 603 and 604 are consumed in June in full amount

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