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3 years ago

Theresa owes $9,000 on her car loan. If the value of her car is $15,000, what is her equity in the car?

Business

1 answer:

pentagon [3]3 years ago

7 0

Answer:

Theresa has $6,000 in equity.

Explanation:

To get this answer, you take the value of her car ($15,000) and subtract the amount that she owes from it ($15,000-$9,000). This gives you $6,000.

Hope this helps!

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A company invests $40,000 in a project with the following net cash flows: Year 1: $3,000 Year 2: $8,000 Year 3: $14,000 Year 4:

hram777 [196]

Answer:

the payback period is 3.34 years

Explanation:

The computation of the payback period is as follow;

Given that

Year Cash flows Cumulative cash flows

0 -$40,000 $-40,000

1 $3,000 $3,000

2 $8,000 $11,000

3 $14,000 $25,000

4 $19,000 $44,000

5 $22,000 $66,000

6 $28,000 $94,000

Now the payback period is

= 3 years + ($40,000 - $25,000) ÷ $44,000

= 3 years + 0.34

= 3.34 years

Hence, the payback period is 3.34 years

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3 years ago

How has tobacco use changed over the last few decades?

Levart [38]

It has significantly decreased

3 0

3 years ago

Read 2 more answers

A company is considering producing some new gameboy electronic games. based on past records, management believes that there is a

german

Market research predicted these

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3 years ago

Glen wants to take a holiday that costs $8,850, but currently he only has $2,750 saved. if he invested his money at 8 percent in

Katarina [22]

Solution:

A = P(1+r)^n

where,
A = amount
P = principal
r = rate of interest
n = number of years

Putting values in the formula,

8850 = 2750(1+0.08)^n

8850/2750 = (1+0.08)^n
log will be used to solve "n" as it is in the exponent form, which gives,

log(8850/2750) = n log(1+0.08)

By solving, we get n = log(8850/2750) / log(1+0.08)

Using financial calculator, value comes as 15.187 rounded to 15.19.

So, he will have to wait for 15.19 years to take holidays as it will take 15.19 years to make $8850 from $2750 @ 8% annual compounding.

4 0

3 years ago

Merger Co. has 10 employees, each of whom earns $1,700 per month and has been employed since January 1. FICA Social Security tax

andriy [413]

Answer:

Date Description Debit Credit

March, 31 Payroll Tax expense $‭2,320.5‬0

FICA Social Security taxes $1,054

FICA Medicare taxes $ 246.50

FUTA taxes $ 102

SUTA taxes $ 918

Working

FICA Social Security taxes = 1,700 * 10 * 6.2% = $‭1,054‬

FICA Medicare taxes = 1,700 * 10 * 1.45% = $‭246.5‬0

FUTA Taxes = 1,700 * 10 * 0.6% = $‭102‬

SUTA Taxes = 1,700 * 10 * 5.4% = $‭918‬

Payroll Tax expense = 1,054 + 246.50 + 102 + 918 = $‭2,320.5‬0

7 0

3 years ago