Lists jobs that are hiring now for 16+ at the bell air mall

Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the res

vladimir1956 [14]

Answer:

a) 12.23%

b) 12.94%

c) 14th month payment interest = $157.33

14th month principal = $369.50

d) 18th month payment interest = $142.04

18th month payment interest = $384.79

e) 22nd month payment interest = $126.12

22nd month payment interest = $400.71

Explanation:

price of truck = $15000

down payment = $1000

Loan amount = $14,000

assume monthly interest rate = r%

Loan amount after 1 year will be = 14000 * (1+r%)12

next we will determine the annuity factor = [ (1/r)-[(1/r)*(1/ (1+r)t)] ]

r = periodic interest rate , t = number of payments

monthly loan payment = $14000*(1+r%)12 / [ (1/r)-[(1/r)*(1/ (1+r)36)] ]

hence r = 1.019%

a) nominal interest rate

= 1.019% *12 = 12.23%

b) effective interest rate

= (1+1.019%)^12 -1 = 12.94%

attached below is the Amortization schedule

c) 14th month payment interest = $157.33

14th month principal = $369.50

d) 18th month payment interest = $142.04

18th month payment interest = $384.79

e) 22nd month payment interest = $126.12

22nd month payment interest = $400.71

3 0

2 years ago

A random sample of 30 lunch orders at noodles and company showed a mean bill of $10.36 with a standard deviation of $5.31. find

Paladinen [302]

The formula for calculating the Confidence Interval is as follows:

Confidence Interval = x +- (z*s)/√N

Where:

x = mean = 10.36

z = taken from standard normal distribution table based on 95% confidence level = 1.96

s = standard deviation = 5.31

N = sample size = 30

Substituting know values on the equation:

Confidence Interval = 10.36 +- ( 1.96 * 5.31) / √30

Confidence Interval = 8.46 and 12.26

Hence the bill of lunch orders ranges from 8.46 to 12.26.

4 0

3 years ago

Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During Jun

stepan [7]

Answer:

I used an excel spreadsheet because there is not enough room here.

Explanation:

Download pdf

7 0

3 years ago

Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant ra

seraphim [82]

Answer:

See

Explanation:

Selling price = $25,000/1,000 = $25

Variable cost = $17,500/1,000 = $17.5

1,001 units

Contribution margin income statement

Sales ($25,000 + $25)

$25,025

Less variable expenses

5 0

2 years ago

During January 2018, the following transactions occur:

umka2103 [35]

Answer:

See explanation section

Explanation:

Jan. 1 Equipment Debit $20,300

Cash Credit $20,300

To record the purchase of equipment assuming by cash.

Jan. 4 Accounts payable Debit $10,300

Cash Credit $10,300

To record the cash paid to accounts payable.

Jan. 8 Purchase Debit $90,900

Accounts payable Credit $90,900

To record the purchase of additional inventory (supplies) on account

Jan. 15 Cash Debit $22,800

Accounts receivable Credit $22,800

To record the cash received from customers

Jan. 19 Salaries expense Debit $30,600

Cash Credit $30,600

To record the cash paid for salaries expense

Jan. 28 Utilities expense Debit $17,300

Cash Credit $17,300

To record the cash paid for utilities expense

Jan. 30 Accounts receivable Debit $228,000

Sales Credit $228,000

To record the sales on account.

6 0

3 years ago

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