Why does mercedes oil change cost so much?

You are planning to buy 2019 MINI Cooper on a loan. Price of the car is $26,000. You are planning to make monthly payments for t

Sergeu [11.5K]

Answer:

$1,223.91

Explanation:

As per the concept of time value of money, the value of money today is more than the value of money tomorrow.

Given:

Price of car = $26,000

Interest rate 12%, compounded monthly

Tenure = 2 years

Now, Price of the car is the value of money today to purchase the car. So, while computing the monthly payment for car $26,000 will be considered as present value.

Monthly payment for car can be computed easily using Microsoft excel.

Use the following mentioned formula to calculate the monthly payment.

"=PMT(rate,nper,pv,[fv])"

wherein,

Rate = 12%/2 (because it has been compounded monthly)

nper = 2*12 (because 2 years are to be compounded monthly.)

Pv = $26,000 (as mentioned earlier)

Since, there is no Fv so it blank.

5 0

3 years ago

Motivating workers through ________ relies on the workers desiring personal growth and having the necessary skills.

dalvyx [7]

Your answer for the problem would be task variety

6 0

2 years ago

Regardless of which IR model an organization chooses, multiple employees should be in charge of incident response. Select one: T

kari74 [83]

The IR model applies principles that are focused on greater efficiency to the reporting process.

Explanation:

Manufacturer, Distributer, Retailer, Franchise, E-Commerce are some basic business models. Business model is a conceptual structure that describes how an organization fulfill its purpose.

The main purpose of Integrated Report is to explain the providers of financial capital and how organization creates value over time. It provides greater context for performance data and clarifies how data related information fits into the operation or business.

5 0

3 years ago

Samuel applied for a loan to purchase a new car. his application was denied. what should he do now?

bearhunter [10]

In a situation in which Samuel's application for a loan to purchase a new car was denied, he can do several things:
1. Ask why he was denied. What thing lead to this situation?
2. If he made a mistake in the application, he should correct it.
3. And if not , for example if the denial is due to poor credit report, Samuel should get a free copy of his report from any of three major credit reporting agencies and get a second opinion.
4. And finally if this also does not work he should apply for a new loan.

3 0

4 years ago

A financial instation formed by a large organizacion for its members is a savings and loan

olganol [36]

Answer:

Credit Unions

Explanation:

Credit unions are non-profit making institutions established by large corporations or other entities to cater to their employee's financial welfare. They provide traditional banking services, although they operative like cooperatives societies. Credit unions are created, managed, and belong to their members.

Credit unions mainly offer credit facilities to its members. Because they are not for profits, they provide loans at very competitive terms compared to banks.

3 0

3 years ago