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OLEGan [10]
3 years ago
8

What are some financial consequences that could happen to a borrower if he or she cannot pay back a car loan from a financial in

stitution?
Business
1 answer:
Cerrena [4.2K]3 years ago
3 0

The bank can repossess the car and if anything is used as collateral they can claim that as well. It is best to not get yourself in debt you cannot pay off.

One way to calculate debt is to figure out what your income is per week, and divide that by the weekly payments for the car. Lets say you make 3200, and your debt is 450 a week.

As shown below

<em>Income ÷ Payments </em>

3200 ÷ 450 = 0.14

Now multiply that by 100 to get your percentage,

0.14 x 100 = %14

Financial advisors recommend that you keep your debt-to-income ratio under 30%.

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On April 1, 20X4, Kew Co. purchased new machinery for $300,000. The machinery has an estimated useful life of five years, and de
Afina-wow [57]

Answer:

The answer is B. $180,000

Explanation:

The sum of years' digits method is an accelerated depreciation that is based on the assumption that the productivity of the asset decreases with time.

Here, the sum of the digits are found. In this question, useful life is 5 years. So the sum of the digit is:

5+4+3+2+1 = 15.

April 1 20X4 through March 31 20X6 is 2 years.

First year depreciation is:

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2nd year depreciation is:

4/15 x $300,000

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7 0
3 years ago
Burns Industries currently manufactures and sells 23,000 power saws per month, although it has the capacity to produce 38,000 un
Rudik [331]

Answer:

Increase by $37,100.

It will accept any time the price is above $43 with the condition it will not incur in additional fixed cost.

$63. is the sales price that generates 106,000 dollar of operating income

Explanation:

As the units will not inccur in any additional fixed cost we should check for the contribution margin this units will provide:

50 dollars - 43 dollar of variable cost = 7 dollars

5,300 saws x $7 = 37,100

The sales reveues will increase by that amount.

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sales price = 63

3 0
3 years ago
Which of the following is not an example of how you can reduce the full
andrezito [222]

To reduce the cost of higher education, what should not be done is to get low grades, because they can sanction you and you will have to repeat some subjects.

<h3>What is higher education?</h3>

Higher education is the education that a person accesses to specialize professionally in an area of ​​knowledge. Higher education is found in universities and there different specialized subjects are taken around a profession.

<h3>What to do to reduce the value of higher education?</h3>

To reduce the value of higher education, some students access scholarships that allow them to reduce these costs. However, scholarships generally require them to have high grades and maintain a high level of academic performance.

Therefore, if we want to reduce these costs we must get high grades and maintain a high average. On the other hand, if our grades are low, we are going to increase costs because we are going to have to pay for additional classes or repeat some of them.

Learn more about higher education in: brainly.com/question/2500637

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7 0
2 years ago
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