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bazaltina [42]
3 years ago
13

​E-Loan, an online lending​ service, recently offered 48​-month auto loans at 4.5 % compounded monthly to applicants with good c

redit ratings. If you have a good credit rating and can afford monthly payments of $ 448​, how much can you borrow from​ E-Loan? What is the total interest you will pay for this​ loan?
Business
1 answer:
ser-zykov [4K]3 years ago
6 0

Answer:

Therefore I can borrow $19646.12 from E-Loan.

The interest I will pay for the loan is $1,857.88.

Explanation:

The formula of present value is

PV=PMT(\frac{1-(1+i)^{-n}}{i})

PMT = The monthly payment = $448

i= Rate of interest per period =\frac{4.5}{12}\%=0.00375

n = The number of month = 48 months

Therefore

PV=448(\frac{1-(1+0.00375)^{-48}}{0.00375})

      ≈$19646.12

Therefore I can borrow $19646.12 from E-Loan.

The interest = Paid amount - Loan amount

                    =$[(448×48)-19646.12]

                   =$1,857.88

The interest I will pay for the loan is $1,857.88.

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There are 20 owners for McJellies, Inc. None of those owners are personally financially liable for the company. What type of bus
SVEN [57.7K]

Answer:

- Corporation

Explanation:

At least two people are required to form a corporation. The owners of a corporation are treated as separate entities from the business. The owners, also known as shareholders, enjoy limited liabilities to the debts of the corporation. In case of a liquidation, they cannot lose more than their capital contribution.

A sole proprietorship is owned by one person, but a partnership requires at least two people to form. The owners of sole proprietorships and partnerships have unlimited liabilities to the debts of their businesses. Should the businesses fail in meeting their obligations, owners' personal assets can be used to settle the outstanding debts.

6 0
2 years ago
Construction work is much riskier than working as a server at a restaurant. as a result, we'd expect a difference in wages betwe
Mademuasel [1]

Construction work is much riskier than working as a server at a restaurant. as a result, we'd expect a difference in wages between the two jobs, the difference is known as a compensating differential. Thus, option B is correct.

<h3>What is Construction work? </h3>

Construction is work where people build buildings, apartments, homes, and bridges which includes demolishing, creating, and constructing. A plan is led out for the structure that is to be made.

Compensating differentials is a difference in pay between two jobs. it is often done because there is risk involved, more work to do, or attracting employees. Therefore, option B is the correct option.

Learn more about Construction work, here:

brainly.com/question/10441826

#SPJ4

The question is incomplete, the options will be:

a. An efficiency wages.

b. A compensating differential.

c. A wage adjustment.

d. A minimum wage.

7 0
1 year ago
A company has a $36 million portfolio with a beta of 1.2. The futures price for a contract on the S&amp;P index is 900. Futures
Blizzard [7]

Answer:

Explanation:

A:

Number of contracts required:

= (0-1.2)×36,000,000÷(900×$250)

= -192

Since negative value, short 192 contracts.

B:

= (0.9 - 1.2)×36,000,000÷(900×$250)

= -48

Since negative value, short 48 contracts.

C:

= (1.8 - 1.2)×36,000,000÷(900×$250)

= 96

Since positive value, long 48 contracts.

7 0
3 years ago
Cayo Casta Cabins Corporation recently purchased Ship Island Resort and Casino and the land on which it is located with the plan
PilotLPTM [1.2K]

Answer:

4) recorded as a reduction of the cost of the land.

Explanation:

When you are calculating the cost of any land purchased, you must start with the purchase price and add all the expenditures necessary for getting the land  ready, e.g. legal fees, taxes, real estate commissions, land grading, clearing the trees, etc., and subtract any revenue obtained, e.g. from the sale of salvaged materials or timber.

total cost of land = purchase price + (fees, commissions, grading, clearance expenses, taxes, etc.) - revenue (salvaged materials, scrap, timber, etc.)

4 0
3 years ago
Byron agrees to sell to Charity, for $1,500, a remote parcel of land.They believe the land to be worthless, but beneath it is a
DedPeter [7]

Answer:

D) enforce the contract.

Explanation:

Neither party knew about the gold mine before the deal was made, Byron and Charity even thought it was worthless. If Charity by accident, chance or luck discovered the gold mine, then she is entitled to it. Even f Byron wants to cancel the deal, he can't because Charity acted on good faith and the discovery of the gold mine was not something planned or intended.

For example, if I like an antique at a yard sale and I purchase it at $5, and then by chance someone that knows about antiques tells me that it is really expensive, a made a lot of money and the previous owner doesn't have the right to cancel the sale.  

6 0
3 years ago
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