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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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In a(n) ________, members eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate bar
Elanso [62]

Option B, In a(n) , common market members eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production.

A legal agreement that creates a collection of nations that adopt a single external policy  tariff is known as a common market. Countries that participate in a single market also permit free commerce as well as the free movement of capital and labor within the group's members. It establishes a common external tax on imports in the market. Members of this market thus do away with trade restrictions and embrace or adhere to a common policy.

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6 0
1 year ago
The price elasticity of demand for a particular cancer drug is zero and the price elasticity of supply is 0.50. If a $1 excise t
Ede4ka [16]

Answer:

$1 or 100% of the tax

Explanation:

When the price elasticity of demand is 0, it means that the good or service will be purchased regardless of its cost. Very few things have such a low price elasticity, and the fact that this is drug for treating cancer is the reason why that happens. Anyone that can purchase a drug that will keep you alive, will do so as long as you have enough money to do so. Another good with a very low price elasticity, but not 0, is gasoline with a 0.02 to 0.04, and gasoline is a basic necessity also.

The curve for a perfectly inelastic good is vertical. So any increase in taxes will be paid by the customers.

7 0
3 years ago
Mullineaux Corporation has a target capital structure of 64 percent common stock, 9 percent preferred stock, and 27 percent debt
nlexa [21]

Answer:

10.02%

Explanation:

The computation of the WACC is shown below. The formula of WACC is shown below:

= (Weightage of debt × cost of debt)  + (Weightage of preferred stock) × (cost of preferred stock) + (Weightage of  common stock) × (cost of common stock)

= 27% × 7.6% × (1 - 0.40) + 9% × 5.9% + 64% × 12.9%

= 2.052% × (1 - 0.40) + 0.531% + 8.256%

= 10.02%

8 0
3 years ago
What is the principal ?
9966 [12]

Answer

adjective

1.

first in order of importance; main.

"the country's principal cities"

Similar:

main

chief

primary

leading

foremost

first

most important

predominant

dominant

(most) prominent

key

crucial

vital

essential

basic

staple

critical

pivotal

salient

prime

central

focal

premier

paramount

major

ruling

master

supreme

overriding

cardinal

capital

preeminent

ultimate

uppermost

highest

utmost

top

topmost

arch-

number-one

Opposite:

minor

subordinate

subsidiary

2.

(of money) denoting an original sum invested or lent.

"the principal amount of your investment"

noun

1.

the person with the highest authority or most important position in an organization, institution, or group.

"a design consultancy whose principal is based in San Francisco"

Similar:

boss

chief

chief executive (officer)

CEO

chairman

chairwoman

managing director

MD

president

director

manager

employer

head

leader

ruler

controller

head honcho

gaffer

governor

guv'nor

2.

a sum of money lent or invested, on which interest is paid.

"the winners are paid from the interest without even touching the principal"

Similar:

capital sum

capital

capital funds

working capital

6 0
3 years ago
Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely competitive market at $10 per
IgorC [24]

Answer:

Economic profit will be $40

So option (d) will be correct option

Explanation:

We have given number of units produced = 20 units

Price of per unit = $10 per unit

So revenue = 20×$10 = $200

Revenue :20 units * $10 = 200

Fixed cost is given $100

Variable cost: 20 units ×$3 = 60

So total cost= Fixed cost + Variable cost = 100 + 60 =$160

So economic profit = Revenue - Total cost = 200 - 160 = $40

So option (d) will be correct answer

6 0
3 years ago
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