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Finger [1]
2 years ago
7

Today, your dream car costs $62,200. You feel that the price of the car will increase at an annual rate 2.2 percent. If you plan

to wait 6 years to buy the car, how much will it cost at that time?
Business
1 answer:
Savatey [412]2 years ago
5 0

Answer:

The dream car will cost $70,875 in 6 years time

Explanation:

Here, we are interested in calculating the amount a car will cost if we know the annual appreciation rate of the cost and we decide to wait for some years to purchase the car in question.

To calculate the cost at that time, let’s we shall be using a modification of the compound interest formula.

The cost at that time will be;

C = I(1 + r)^t

Where C is the cost after six years which is unknown

I is the present cost which is $62,200

r is the appreciation percentage = 2.2% = 2.2/100 = 0.022

t is the time which is 6 years

Substituting these values in the modified equation, we have;

C = 62,200(1 + 0.022)^6

C = 62,200(1.022)^6

C = $70,875.44

To the nearest whole amount, it should be $70,875

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6 0
1 year ago
Which job would most likely be paid salary plus commission?
Svetllana [295]

Answer:

Vehicle salesperson.

Explanation:

A sales commission is a percentage or a ration that a salesperson earns for each sale closed. In practice, sales commissions are used by many businesses as incentives to increase sales volumes. A salary plus commission mode of compensation means that the worker will have a fixed and regular salary, and extra pay for meeting set targets.

The vehicle salesperson will be most suited to earn the salary plus commission. This type of compensation will encourage the salesperson to explore more markets to increase sales figures. Sales performance influence profitability. The higher the sales, the better for the company.

8 0
3 years ago
What could happen if you do not keep track of your checks you write?
velikii [3]
Nothing really, you just might have a better idea of your budget if you do.
3 0
3 years ago
For all of the following questions, refer to the following table, which gives financial information for Apple for fiscal year 20
taurus [48]

Answer:

a. 27.9%

Explanation:

The formula and the computation of the gross profit are shown below:

Gross profit = (Gross profit) ÷ (Sales) × 100

where,

Gross profit = $1,604

And, the sales revenue is $5,742

So, the gross profit is

= ($1,604) ÷ ($5,742) × 100

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3 years ago
Following a phone call addressing a customer problem, what should you do? O Remove the customer from your mailing list. O Report
kakasveta [241]

Answer:  Follow up with a letter that documents the call and promotes goodwill.

                                         

Explanation: The given case, belongs to the public relations concept under which the company tries to interact better with their customers, so that the customers enjoy a healthy experience and the image of the company remains positive.

The proper way to address a complaint call is to follow up by giving a letter stating the explanation apologies, excuses shall not be mentioned and assurance should be provided that such action would not be taken in future.

                 

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