Answer:
the opportunity cost of the land purchase is $34,050
Explanation:
The computation of the opportunity cost of the land purchase is shown below;
= Cash outlay × return percentage
= $227,000 × 15%
= $34,050
Hence the opportunity cost of the land purchase is $34,050
We simply multiplied the cash outlay with the return percentage so the same would be calculated
Steel was important to the second industrial revolution majorly because of its properties and its potential uses. Because steel is very strong, light and cheap, it was found ideal for many purposes. Steel was used to make many of the new inventions that characterized that period, a good example of this is rail road.
Answer: $1942.89
Explanation:
Since the car will cost $120,000 and it will be financed with a 84 month contract having a nominal rate of 9.20%, then the monthly payment will be:
= PMT(9.2%/12, 84, -120000)
This will be slotted into the Excel calculator and the answer gotten will be $1942.89
Therefore, the monthly payment will be $1942.89.
