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likoan [24]
3 years ago
8

Casey is considering taking out a 30-year loan with monthly payments of $205 at an APR of 1.9%, compounded monthly, and this equ

ates to a loan of $56,220.01. Assuming that the APR and the length of the loan remain fixed, which of these is a correct statement?

Business
2 answers:
Sergio [31]3 years ago
4 0

So logically, without doing any math, you can look at the answers and see which is the correct answer.

So we are told that rate and term stay the same.

So if you make lower payments but make the same number of payments, the total amount of payments would be LESS than the original loan.

If you make higher payments, the amount of the loan would be MORE.

Look for the answer that meets this criteria.

Kipish [7]3 years ago
4 0

Answer:

A, monthly payments of $195

Explanation:

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BigorU [14]

Answer:

$21.6 trillion

Explanation:

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=$12 trillion × 1.8 = $21.6 trillion

I hope my answer helps you

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Explanation:

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During the taking of its physical inventory on December 31, Barry's Bike Shop incorrectly counted its inventory as $222,138.00 i
Scrat [10]

Answer:

c. assets, retained earnings, and net income all overstated by $37,729.

Explanation:

since the ending inventory was overstated by $222,138 - $184,409 = $37,729, it means that cost of goods sold was understated by that same amount. Since COGS were less, that resulted in higher operating income and net income.

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7 0
3 years ago
When the interest rate is 10% per year, all of the following are equivalent to $5,000 now except: A) $4,545 one year ago B) $5,5
Evgesh-ka [11]

Answer:

$4,021 two years ago

Explanation:

Given that

The Rate of interest is 10%

And as we know that

PV = FV × (1 + i)^(-n)

And

FV = PV ÷ (1 + i)^n

where,  

PV = prsent value,

FV = future value ,

i = interest rate,

n = years

Now

a)

FV = $4,545 × (1.1)

= $4,999.5

b)

PV = $5,500 ÷ (1.1^-1)

= $5,000

c)

FV = $4,021 × (1.1^2)

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d)

PV = $6,050 × (1.1^-2)

= $5,000

hence, the correct option is c. $4,021

It is wrongly written as $4,012

3 0
3 years ago
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