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Basile [38]
3 years ago
7

After visiting several automobile dealerships, Richard selects the used car he wants. He likes its $11,500 price, but financing

through the dealer is no bargain. He has $1,500 cash for a down payment, so he needs an $10,000 loan. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. That is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $10,000 for a period of four years at an add-on interest rate of 11 percent.
What is the total intetrest on Richard's loan?
What is the total cost of the car?
What is the monthly payment ?
What is the annual percentage rate?
Business
1 answer:
aksik [14]3 years ago
3 0

Explanation:

I = Prt

I = (10000)(.11)(4) = $4400

Total Cost = Down Payment + Principal Borrowed + Interest

Total Cost = 2000 + 8000 + 4400

= $14,400

Monthly Payment = (Principal Borrowed + Total interest) / Total number of payments

Monthly Payment = (10,000 + 4400) / 48

= $300

APR= (2 × n × I) / [P × (N + 1)]

APR = (2 × 12 × 4400) / [10,000 × (48+1)]

= 21.55%

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A company has 800 bonds outstanding with a par value of $1,000 and priced at 95% of par. It also has 40,000 shares of common sto
alisha [4.7K]

Answer:

Bonds   = 24%

Shares  = 76%

Explanation:

The weight of each of the finance sources is the proportion that their market value bears to the total market value.

This is computed as follows:

                                                                               $

Market value of bonds= 95%× 1,000× 800= 760,000

Market value of shares = 60× 40,000=        <u>2,400,000</u>

Total market value                                        <u>  3,160,000</u>

Bonds             = 760,000/3,160,000× 100= 24%

Shares             = 2400000/3,160,000×  100= 76%

7 0
3 years ago
In the Shaping Department of Vaughn Company the unit materials cost is $6.00 and the unit conversion cost is $2.00. The departme
Oksanka [162]

Answer: $31200

Explanation:

Based on the information given in the question, the total cost to be assigned to the ending work in process will be:

Material cost = 4800 × $6 = $28800

Conversion cost = 4800 × 25% × $2 = $2400

Therefore, the total cost to be assigned to the ending work in process will be:

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5 0
2 years ago
Which of the following is not included in GDP?the payments for a chiropractor's servicescash income paid to a day laborer that i
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Answer:

cash income paid to a day laborer that is not reported to the tax authorities

Explanation:

GDP stands for Gross domestic product. It is the  monetary value of all finished goods and services made within a country during a specific period.

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Answer:

d

Explanation:

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Answer:

Instrumental values.

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The two types of values that exist are terminal values and instrumental values. Terminal values are the ones people consider of the greatest importance and desire the most. These consist of goals sought after by individuals during their whole life, such as happiness, recognition, professional success, and more. On the other hand, instrumental values relate to beliefs about what are right means to fulfilling the terminal values, such as honesty, sincerity, ethics, etc. These values have more relation to the characteristics of their personality and character.

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