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Nezavi [6.7K]
3 years ago
5

You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an apr of 6.6 percent fo

r a 48 month loan to buy the car. what will your monthly payments be?
Business
1 answer:
Margaret [11]3 years ago
8 0

Answer: The monthly payment will be $2007.81.

We have:

Cost of the sports coupe (PV)                     $84,500

Annual Percentage Rate (APR)                         6.6%

Loan tenure in months (n)                                    48

We can find the monthly payment by using the Present value of an annuity formula:

\mathbf{PV_{Annuity}= PMT * \left ( \frac{1-(1+r)^{-n}}{r} \right )}

Since APR is a yearly number, we need to convert it into a monthly rate.

So , r = \frac{0.066}{12} = 0.0055

Plugging values in the PV formula above we get,

\mathbf{84500 = PMT * \left ( \frac{1-(1+0.0055)^{-48}}{0.0055} \right )}

\mathbf{84500 = PMT * \left ( \frac{1-0.768529253}{0.0055} \right )}

\mathbf{84500 = PMT * \left ( \frac{0.231470747}{0.0055} \right )}

\mathbf{84500 = PMT * 42.08559028}

\mathbf{\frac{84500}{42.08559028}= PMT}

\mathbf{PMT = 2007.813112}



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Which of the following policies is the government most inclined to use when faced with a positive externality? Group of answer c
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Answer:

subsidies

Explanation:

Subsidies refer to financial aid for some specific purpose and to some specific category as decided by the government. As for the instance the government can provide subsidy in the form of house to poor people in the country.

Now here the rich people can afford their own houses and that they can pay the taxes as well which are attached to the the houses, which provide extra benefit to the poor, as the government can provide the subsidy then more efficiently.

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Select the correct answer.
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The Nautical Corporation manufactures custom-made wood wall units. The following data pertains to Job X4A: Direct materials plac
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Answer:

Total Cost of Job X4A:                                             $

Direct material cost  ($9,000 x 500 units)              4,500,000                              

Direct labour cost (300 hrs x $15 x 500 units )       2,250,000

Overhead applied (100 hrs x $22.50 x 500 units)  1,125,000

Total cost                                                                    7,875,000

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in which economy below are private owners most concerned with developing wealth? capitalism mixed market socialism communism
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Private owners' primary aim in capitalism is money creation.

A system of economics referred to as "capitalism" is one that promotes private ownership of the tools of creation, distribution, and exchange in order to generate profit. In this system, the market decides the production and pricing of the goods and services, hence supply and demand dynamics are very important.

An economic system known as capitalism is one in which private individuals own and manage the trade and industries of the economy in order to profit.

What is Capitalism:

Capitalism, which includes both the working class and the capitalist class, supports class differentiation, there is a significant gap between the rich and the poor. On the other hand, communism is opposed to class inequalities in society since it supports a society in which there is no distinction among the rich and the poor.

In a capitalist society, everyone is responsible for generating their own wealth. Contrarily, in communism, wealth is dispersed in accordance with needs and capacity. While there is intense competition between businesses in capitalism, this is not the case in communism, because the government controls the market. While capitalism exists in western nations, socialism is more prevalent in eastern nations.

Learn more about Capitalism:

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On April 1, 2019, a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date. What
emmainna [20.7K]

Answer:

The insurance expense on the annual income statement for the year ended December 31, 2019 will be D. $337.50

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The company paid the $1,350 premium on a three-year insurance policy.

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From April 1, 2019 to December 31, 2019, the company had bought the insurance for 9 months.

The insurance expense on the annual income statement for the year ended December 31, 2019 = $450/12x9 = $337.5

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