1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dima020 [189]
3 years ago
8

You want to buy a new sports coupe for $75,500, and the finance office at the dealership has quoted you a 7.9 percent APR loan f

or 72 months to buy the car. Requirement 1: What will your monthly payments be? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places
Business
1 answer:
MAVERICK [17]3 years ago
8 0

Answer:

$1,295.03

Explanation:

To find the answer, we will use the present value of an annuity formula:

PV = A ( 1 - (1 + i)^-n) / i

Where:

  • PV = Present Value of the investment (in this case, the value of the loan)
  • A = Value of the Annuity (which will be our incognita)
  • i = interest rate
  • n = number of compounding periods

Now, we convert the 7.9 APR to a monthly rate. The result is a 0.6% monthly rate.

Finally, we plug the amounts into the formula, and solve:

75,500 = A (1 - (1 + 0.006)^-72) / 0.006

75,500 = A (58.3)

75,500 / 58.3 = A

1,295.03 = A

Thus, the monthly payments of the car loan will be $1,295.03 each month.

You might be interested in
Which of the following is an adjustment to a pay rate to reflect differences in working conditions or labor markets?A. bonusB. p
Ksju [112]

Answer:

The correct answer is letter "B": pay differential.

Explanation:

Pay differential refers to the extra income received by an employee as a result of working out of the established working hours agreed in his or her contract. Pay differential is usually the monetary benefit a worker receives after working overtime or during a graveyard shift.

6 0
3 years ago
PLEASE HELP FAST!!!
maria [59]
It’s C because it’s balanced
7 0
3 years ago
Read 2 more answers
Macrosoft Company reports net income of $61,000. The accounting records reveal depreciation expense of $76,000 as well as increa
melamori03 [73]

Answer:

Cashflow from Operating Activities                  $

Net income                                                         61,000

Add: items not involving movement of cash

Depreciation                                                    <u>76,000</u>

                                                                          137,000

Changes in working capital:

Increase in prepaid rent                                   (56,000)

Increase in accounts payable                           <u>11,000</u>

                                                                            92,000

Less: Tax                                                           <u>  16,000</u>

Cashflow from operating activities                   <u> 76,000</u>

Explanation:

Cashflow from operaing activities  using the indirect method equals net income plus depreciation minus increase in prepaid rent plus increase in accounts payable minus tax.

4 0
3 years ago
When interacting with a small number of rival​ firms, a manager uses a?
vaieri [72.5K]
It is known as a Strategy. An association's methodology that joins the greater part of its advertising objectives into one extensive arrangement. A decent showcasing procedure ought to be drawn from statistical surveying and concentrate on the correct item blend keeping in mind the end goal to accomplish the most extreme benefit potential and maintain the business.
6 0
3 years ago
The following table contains statements that provide some analysis of policies that address smoking, lung cancer, and cigarette
liubo4ka [24]

Answer:

Positive Statements: 1st & 2nd ; Normative Statements: 3rd & 4th

Explanation:

Positive Economics is <u>objective</u> & <u>facts</u> based <u>actual</u> economic issue description , explaining verifiable phenomenas (causal relationships).

Normative Economics is <u>subjective</u> & opinion based conclusive <u>solutions</u> to economic issues, including '<u>ought to be</u>' unverifiable suggestions.

1. Lung cancer kills millions of people each year: reflects actual objective verifiable fact about an economic (health) issue.

2. Too many people smoke: denotes another actual objective variable fact connected to (potential cause of) the above economic (health) issue.

So , these two are Positive Statements.

3. If the government were to increase taxes on cigarettes, fewer people would smoke : Is subjective opinion based probable solution to the above economic (health) issue.

4. The government should increase taxes on cigarettes : Is an 'ought to' suggestion for an economic participant (govt) to solve the above economic (health) issue.

So , these two are Normative Statements

5 0
3 years ago
Other questions:
  • On october 1, goodwell company rented warehouse space to a tenant for $2,500 per month and received $12,500 for five months' ren
    15·1 answer
  • Melody's Piano School operations for the month of May are summarized in the following three transactions: - Provided $1,150 of i
    15·1 answer
  • Kansas Enterprises purchased equipment for $72,500 on January 1, 2021. The equipment is expected to have a five-year service lif
    14·1 answer
  • A _______ is a cluster of complementary products and services that are closey related in the minds of consumers but are spread a
    14·1 answer
  • The _____ states that combining location-specific assets or resource endowments and the firm's own unique assets often requires
    12·1 answer
  • "Reginald owns a grocery and his clerks are on strike. Reginald is trying to operate the store with the help of his manager, but
    13·1 answer
  • Consider two neighboring island countries called Felicidad and Bellissima. They each have 4 million labor hours available per mo
    11·1 answer
  • A division of IBM works out of 360 locations in 64 countries, tracking more than 1.5 million assets for both IBM and its clients
    10·1 answer
  • How do I calculate current ratio
    8·2 answers
  • O'Garro Inc. has paid a regular quarterly cash dividend of $0.70 per share for several years. The common stock is publicly trade
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!