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Oduvanchick [21]
3 years ago
14

discuss the role of family members in assisting in the process of decision making about starting an own business

Business
1 answer:
stellarik [79]3 years ago
4 0
Family members can give advice but if they are not a business partner, then they don't have much of a say in the business. 
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You want to buy a new car, but you can make an initial payment of only $1,200 and can afford monthly payments of at most $850. a
Leviafan [203]

Answer:

a. The maximum price you can pay for the car is <u>$33,477.87</u>.

b. The maximum price you can pay for the car is <u>$39,411.78</u>.

Explanation:

a. If the APR on auto loans is 12% and you finance the purchase over 48 months, what is the maximum price you can pay for the car? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

This can be determined as follows:

<u>Calculation of the Present Value (PV) of the monthly payments</u>

To calculate, the formula for calculating the present value of an ordinary annuity is used as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV = Present value of the monthly payments = ?

P = Monthly payment = $850

r = monthly interest rate = annual percentage rate (APR) / 12 = 12% / 12 = 1%, or 0.01

n = number of months = 48

Substitute the values into equation (1) to have:

PV = $850 * ((1 - (1 / (1 + 0.01))^48) / 0.01)

PV = $850 * 37.9739594934803

PV = $32,277.87

<u>Calculation of the maximum price you can pay for the car</u>

Given in the question is initial payment of only $1,200.

The present value of the monthly payments calculated above is $32,277.87.

Therefore, we have:

Maximum price = Initial payment + Present value of the monthly payments = $1,200 + $32,277.87 = $33,477.87

Therefore, the maximum price you can pay for the car is <u>$33,477.87</u>.

b. How much can you afford if you finance the purchase over 60 months? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

This can also be determined as follows:

<u>Calculation of the Present Value (PV) of the monthly payments</u>

To calculate this, we use equation (1) in part (a) above, change number f months to 60 and proceed as follows:

PV = Present value of the monthly payments = ?

P = Monthly payment = $850

r = monthly interest rate = annual percentage rate (APR) / 12 = 12% / 12 = 1%, or 0.01

n = number of months = 60

Substitute the values into equation (1) to have:

PV = $850 * ((1 - (1 / (1 + 0.01))^60) / 0.01)

PV = $850 * 44.9550384062241

PV = $38,211.78

<u>Calculation of the maximum price you can pay for the car</u>

Given in the question is initial payment of only $1,200.

The present value of the monthly payments calculated above is $38,211.78.

Therefore, we have:

Maximum price = Initial payment + Present value of the monthly payments = $1,200 + $38,211.78 = $39,411.78

Therefore, the maximum price you can pay for the car is <u>$39,411.78</u>.

5 0
2 years ago
Where could student researchers and/or student subjects find additional resources regarding the IRB approval process? (There may
nadya68 [22]

Answer:

Faculty advisor/Research Mentor

IRB office

Explanation:

The primary purpose of the IRB is to protect the rights and welfare of human subjects involved in research activities being conducted under its authority.

IRB approval is required before you start your research.

Federal regulations require that research projects involving human subjects be reviewed by an Institutional Review Board (IRB). The IRB must approve or determine the project to be exempt prior to the start of any research activities.

4 0
3 years ago
Read 3 more answers
Write a 600 word summary in your own words that identifies the main points you learned. Your summary should include at least one
Sveta_85 [38]

Answer:

heck no I'm definitely not writing that for you. ur lazy.

4 0
2 years ago
Read 2 more answers
As Bart Brownlee approached retirement, he decided the time had come to invest some of his nest egg in a conservative fund. He c
Lunna [17]

Answer:

$1,487.5 is the amount of commission (load) Bart must pay

Explanation:

Commision to be paid :

which is equal to

=$35000*4.25%

which is equal to

=$1487.5.

3 0
3 years ago
One of your customers is delinquent on his accounts payable balance. youâve mutually agreed to a repayment schedule of $660 per
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N=log((1−14,880×0.0106÷660)^(−1))÷log(1+0.0106)=25.9 months

5 0
3 years ago
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