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Lynna [10]
3 years ago
7

Caleb bought a car for $6,900. he agreed on a five- year loan at a 5.4% interest rate. calculate what caleb's monthly payments w

ill be.
Business
1 answer:
Amanda [17]3 years ago
7 0
Monthly payment amount is given by;
P = A*D --- A = Amount borrowed = $6,900, D = factor
That is,

D = [R/12]/[1-(1+R/12)^-12n] --- where R = 5.4% = 0.054, n = 5 years

Substituting;
D = [0.054/12]/[1-(1+0.054/12)^-12*5] = 0.0191

Therefore, monthly payment amount P is;
P = A*D = 6900*0.0191 = $131.48


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Answer:

$1,456,000

Explanation:

Calculation to determine the value of the total equity of the combined firm, XY, if the purchase method of accounting is used

First step is to calculate the Assets from Firm X

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Assets from Firm X= $950,000 (book value)

Second step is to calculate the Assets from Firm Y

Assets from Firm Y = 22,000 ( $21 )

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Third step is to calculate the Goodwill

Goodwill = 22,000 ($21 + 2 ) - $462,000

Goodwill= $44,000

Now let calculate the the total equity of the combined firm, XY,

Total equity of XY = $950,000 + $462,000 + $44,000

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6 0
2 years ago
Assume there are currently five firms producing and selling fertilizer in the South American market. Also assume that the produc
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Ivers Co. holds $30,000 of available-for-sale securities. Ivers intends to hold these securities for three years. Ivers should r
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hope this helps :)

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Savion is restoring a car and has already spent $4,000 on the restoration. He expects to be able to sell the car for $5800. Savi
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<h3>Why should Savion sell the car?</h3><h3 />

The profit if he works on the car is:

= Selling price - Addtional work cost

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The profit from selling the car is $3,800 which is more than the profit if additional work is done of $3,400.

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