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3 years ago

taneeka borrowed 12,000 for a car for 6 years at an APR of 7.25% her monthly payment will be $206.03 true or false

Business

1 answer:

GalinKa [24]3 years ago

8 0

Answer:

The actual monthly payment is $206.08, which is slightly higher than the value given in the question, therefore, the given statement is not true.

Step by Step Explanation:

We have been given the loan amount as $12,000, term of loan as 6 years and annual interest rate as 7.25%.

Let us first find the monthly payment for this data, and then we can compare it with the given data to answer the given question.

We know that EMI formula is given as $C=\frac{P\cdot r\cdot (1+r)^{n}}{(1+r)^{n}-1}$

Upon substituting the given values.

$C=\frac{12000\cdot \frac{0.0725}{12}\cdot (1+\frac{0.0725}{12})^{72}}{(1+\frac{0.0725}{12})^{72}-1}\\C=\frac{12000\cdot 0.0060416666\cdot (1+0.0060416666)^{72}}{(1+0.0060416666)^{72}-1}\\C=\frac{12000\cdot 0.0060416666\cdot (1.0060416666)^{72}}{(1.0060416666)^{72}-1}\\C=206.076\\$

Therefore, the monthly payment is $206.08.

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If a CobbDouglas production function has alpha = 0.34 and beta = 0.42, then a 1% increase in inputs results in a ________ ch

vampirchik [111]

Answer:

0.76%

Explanation:

Firstly we write out the production function to be

Y = K^0.34L^0.42.

So if we have inputs that are increased by 1%, we will now have a new production function which is

Y = (K + 0.01 of K)^0.34 (L + 0.01 of L)^0.42

We write this in terms of growth rate

The Growth rate of Y = 0.34 x the growth rate of K + 0.42 x the growth rate of L

This gives us the Growth rate of Y = 0.34 x 1% + 0.42 x 1%

= 0.34+0.42

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6 0

2 years ago

The manager of a major retail store has taken a random sample of 25 customers. The average sale was $52.50. The population stand

Anna35 [415]

Answer:P value = 1 - 0.9793 = 0.0207

Explanation:

we can use Z value and normal distribution to find P value. P value is the area of beyond the value of Z value

sample mean (x.bar) = $52.20

Population mean (U) = $50

Sample Standard deviation (Sd) =$ 6.10

sample (n) = 25

Z = $\frac{(x.bar - U)}{Sd/\sqrt{n} }$ = $\frac{52.50 - 50}{6.10/\sqrt{25} }$

Z = 2.50/1.22 = 2.049280328 = 2.049

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3 years ago

purchased equipment on January1, 2018,for $ 27 comma 419.Suppose Duck Pond Golf Club Sold the equipment for $ 19 comma 000 on

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Answer:

31 December 2019

Cash 19000 Dr

Accumulated depreciation 12186 Dr

Equipment 27419 Cr

Gain on disposal 3767 Cr

Explanation:

Straight line depreciation method charges a constant depreciation expense through out the useful life of the asset.

To calculate the gain or loss on disposal/sale of an asset like this, we need to first determine the book value or carrying value of asset on that day.

Carrying value = Cost - Accumulated depreciation

Carrying value = 27419 - 12186

Carrying value = $15233

Gain or (loss) on disposal = Cash/Sale proceeds - Carrying Value

Gain or (loss) on disposal = 19000 - 15233

Gain or (loss) on disposal = $3767 Gain

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3 years ago

Managers should avoid satisficing in the ____ stage of the managerial decision-making process.

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The answer is selecting an alternative. It is because it is not always satisfying or a guarantee of using an alternative in the stage of managerial decision making process because sometimes it won’t suit or will be helpful in solving the problem.

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3 years ago

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