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horrorfan [7]
3 years ago
14

A school realizes that they need a new copy machine for their main office. The copy machine costs $5,500. After speaking with th

e financial advisor, they decide to pay 20% of the cost of the machine in cash and finance the rest through their credit union. How much is their monthly payment if the credit union will charge 2% per year compounded monthly for 2 years

Business
1 answer:
Natali [406]3 years ago
5 0

Answer:

$187.18

Explanation:

In this question, we use the PMT formula that is shown on the attachment below:

Given that,  

Present value = $5,500 - $5,500 × 20% = $4,400

Future value = $0

Rate of interest = 2%  ÷ 12 months = 0.16666%

NPER = 2 × 12 months = 24

The formula is shown below:

= PMT(Rate;NPER;-PV;FV;type)

The present value come in negative

So, after solving this, the monthly payment is $187.18

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Acme Manufacturing makes their preliminary economic studies using a​ before-tax MARR of 17​%.More detailed studies are performed
VMariaS [17]

Answer:

The after-tax MARR is 13.26%

Explanation:

After - tax MARR = Before tax MARR*(1 - tax rate)

                            = 17%*(1 - 22%)

                            = 13.26%

Therefore, The after-tax MARR is 13.26%

7 0
3 years ago
While reviewing the books at his firm, Chad Cooper noticed discrepancies between how the firm recorded revenues last year and ho
telo118 [61]

Answer:

The correct answer is letter "D": the services of an independent auditor.

Explanation:

Every time an internal auditor feels there is inaccurate information on the company's books, <em>requesting for an external audit of a Certified Public Accountant (CPA) is a valid option</em>. Auditors must clarify any piece of information that seems ambiguous in a firm's general ledger. Otherwise, if mistakes or fraud are found, the auditor can be considered an accomplice of such activities.

5 0
3 years ago
if a bank reconciliation included a deposit in transit of $765, the company's journal entry for this reconciling item would incl
Olin [163]

If a bank reconciliation included a deposit in transit of $765 the company's journal entry for this reconciling item would contain nothing because the deposit has already been tracked and recorded. The complete question can be seen in attachment.

Bank reconciliation can be described as the process of comparing data on cash books with the corresponding data on the bank statements. It is a important process for the CFO's office and ensures the accuracy of accounting records. Reconciliation also says the process of matching transactions that have been recorded internally against monthly statements from external sources such as banks to see if there are differences in the records and to correct any discrepancies.

Learn more about Bank reconciliation at brainly.com/question/15525383

#SPJ4

7 0
1 year ago
An entrepreneur needs to raise $20,000 for improvements to her factory. She plans to contribute 60 percent of this sum from her
Karolina [17]

Answer:

$8,000

Explanation:

The entrepreneur needs $20,000. She can raise 60% from savings. It means she needs to generate 40% from other sources.

40% of $20,000 is

=40/100 x $20,000

=0.4 x $20,000

=$8,000

8 0
3 years ago
Vintage Fun reproduces old-fashioned style roller skates and skateboards. The annual production and sales of roller skates is 1,
Vesna [10]

Answer:

D. $33.47

Explanation:

The computation of overhead cost per skateboard using an activity-based costing system is shown below:-

                                    Total          Expected           Activity

Activity pool cost      Overheads    Activity               Rate

Setup cost                     $6,550           665                9.85

Engineering cost          $16,000        1,120                14.29

maintenance cost        $91,450        4,353               21.01

Activity pool cost          Rate             Driver         Overhead cost  

Setup cost                       9.85              320              3,152  

Engineering cost             14.29             630             9,002.7

maintenance cost            21.01              2,178           45,759.78  

Total Overheads cost                                               57,914.48

Number of units                                                               1,730

Overhead cost per unit                                                $33.48

Therefore for computing the overhead cost per unit we simply divide the total overhead cost by number of units.

8 0
3 years ago
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