Answer:
The highest affordable APR is 7.192%.
Explanation:
A person wants to borrow $93,000 from local bank to buy a new sailboat.
The maximum affordable monthly payment or EMI is $1,850.
The loan period is 60 months.
Suppose, monthly interest rate = r
93000 = 
At r =.6 %
Present value of loan repayment = $92984.94
At r=.5%
Present value of loan repayment = $95692.29
Through the method of interpolation,
r= .5% + ((95692.29 - 93000)/( 95692.29 - 92984.94))*(.6% - .5%)
r=.5994%
Annual interest Rate
= .5994%*12
= 7.192%.
equal payments paid at the end of regular intervals over a stated time period
Answer:
15.7
Explanation:
In this question we have the following information
Employment in Motor Vehicle manufacturing within city = 12643
Total employment in motor city = 560379
Total individual employment = 152750
Total employment = 106201232
We get the location quotient as
(12643/560379)/152750/106201232
0.02256/0.001438
= 15.69
This is approximately
15.7
Therefore the location quotient = 15.7
Answer:
1.Consumption ratios for the four drivers in relation to both the cards will be consumption for a particular card/total consumption for both the cards which will be as follows :-
Scented cards Regular cards Inspection hours 100/190=0.53 90/190=0.47 Set up hours 90/120=0.75 30/120=0.25 Machine hours 170/800=0.21 630/800=0.79 Number of moves 210/265=0.79 55/265=0.21
2 .There has been diversification of different activities or drivers among both the products, thus increasing significance of activity Based distribution of overheads. Since if we use blanket rate for allocation of overhead on the basis of machine hours, it will certainly leads to a distorted view as machine hours are significantly higher in case of regular cards whereas consumption of other resources is comparatively lower for it. This, in such a situation its significance certainly gets increased.
3. Activity rates which could be used to assign cost to each product will be calculated as Total cost for the driver/number of units of that driver. It is calculated in the table as follows :-
(A) ( B ) number of units (C=A=B) cost per unit Driver/activity total (hours) of (hour) of cost driver/activity driver/activity
Total cost for the driver/number of units of that driver. It is calculated in the table as follows :-
Driver/activity (A) total cost ( B ) number of units (hours) of driver/activity (C=A=B) cost per unit (hour) of driver/activity Inspecting products 4930 190 (100+90) 25.95 Setting up equipment 4700 120 (90+30) 39.17 Machining 6500 800 (170+630) 8.13 Moving material 1370 265 (210+55) 5.17
4 . We have total inspection cost as 4930 And activity rate for inspecting product is $20per inspecting hour This total inspecting hours will be = 4930/20=246.5 hours Thus total inspection hours would be 246.5.
Answer:
The City of Mayville
The City should report $42,000 as restricted fund balance in its General Fund on December 31, 2019.
Explanation:
a) Data and Calculations:
Total fund balance in General Fund = $200,000
Inventory = $28,000
Prepaid Rent 10,000
Encumbrances 60,000
Restricted fund = $42,000
b) The City of Mayville's restricted fund balance is the cash balance that has been earmarked for specific or limited use by or for the City. Restricted funds ensure that donors detect and direct the usage of the funds.
