I need help on Personal Finance.

On January 1, 2009, Diego owed $14,033 to his friend Ricardo, who was kind enough not to charge Diego any interest. Each month d

aleksandrvk [35]

Answer:

$481

Explanation:

Amount paid = Amount lent - Amount left

Amount paid = $14,033 - $8,261

Amount paid = $5,772

Average amount paid each month = Amount paid / Number of months

Average amount paid each month = $5,772 / 12

Average amount paid each month = $481

So, the average amount of Diego's monthly payments is $481.

6 0

3 years ago

The end goal of the Executive order is to provide what to the patients

dmitriy555 [2]

Death or happiness or even sadness or maybe life or a happy feeling

6 0

3 years ago

Pleasantville maintains an appropriations ledger for police department supplies. The amount appropriated for supplies was $100,0

satela [25.4K]

Answer:

Appropriation available for spending = 37000

Explanation:

In the appropriations ledger, the amount available for spending at any moment is the total appropriation minus expenditures plus outstanding encumbrances.

100000 - 35000 - 28000 = 37000

3 0

3 years ago

Manny and Irene will be retiring in fifteen years and would like to buy a Mexican villa. The villa costs $500,000 today, and ho

ki77a [65]

Answer:

Annual deposit= $37,714.37

Explanation:

Giving the following information:

The villa costs $500,000 today, and housing prices in Mexico are expected to increase by 6% per year. Manny and Irene want to make fifteen equal annual payments into an account, starting today, so there will be enough money to purchase the villa in fifteen years.

The account earns 10% per year.

First, we need to calculate the final value of the house with the following formula.

FV= PV*(1+i)^n

FV= 500,000*(1.06^15)=$1,198,279.1

Now, we can calculate the annual payments required:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,198,279.1*0.10)/[(1.10^15)-1]

A= $37,714.37

6 0

4 years ago

Victoria Company reports the following operating results for the month of April.

forsale [732]

Answer:

Victoria Company

1. No Changes:

Break-even point in units = 7,398

Break-even point in dollars = $369,900

Margin of safety = $80,100

2. With changes in sales price and costs:

Break-even point in units = Fixed expense/Contribution margin per unit

= 8,220

Break-even point in dollars = Fixed expense/Contribution ratio

= $390,437

Margin of safety in dollars

= $122,563

Explanation:

a) Data and Calculations:

VICTORIA COMPANY

CVP Income Statement

For the Month Ended April 30, 2020

Total Per Unit

Sales (9,000 units) $450,000 $50

Variable costs 225,000 25.00

Contribution margin 225,000 $25.00

Fixed expenses 184,950

Net income $40,050

Break-even point in units = $184,950/$25 = 7,398

Break-even point in dollars = $184,950/0.5 = $369,900

Margin of safety = $450,000 - $369,900 = $80,100

Management's decision to reduce selling price by 5%

New selling price = $47.50 ($50 * 95%)

Unit sales = 10,800 (9,000 * 1.2)

Total Per Unit

Sales (10,800 units) $513,000 $47.50

Variable costs 270,000 25.00

Contribution margin 243,000 $22.50

Fixed expenses 184,950

Net income $58,050

Break-even point in units = Fixed expense/Contribution margin per unit

= $184,950/$22.50

= 8,220

Contribution ratio = $22.50/$47.50 = 0.4737

Break-even point in dollars = Fixed expense/Contribution ratio

= $184,950/0.4737

= $390,437

Margin of safety in dollars = Budgeted Sales - Break-even Sales

= $513,000 - $390,437

= $122,563

5 0

3 years ago