1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stich3 [128]
3 years ago
8

Ken just purchased new furniture for his house at a cost of $15,000. The loan calls for weekly payments for the next 5 years at

an annual interest rate of 10.15 percent. How much are his weekly payments
Business
1 answer:
Stells [14]3 years ago
3 0

Answer:

His Weekly Payment is $73.62

Explanation:

Loan is paid in installment over the allowed period of the loan. It includes the principal payment and interest payment as well. Ultimately after a defined period the loan becomes zero. The loan installment amount is calculated as below.

Loan Payment per year = r ( PV ) / 1 - ( 1 + r )^-n

r = rate per period = 10.15% per year = 10.15%/52 = 0.1952% per week

n = number of Years= 5 years x 52 = 260 weeks

PV =  Loan amount = $15,000

P = payment per year = ?

P = 0.1952% ( $15,000 ) / 1 - ( 1 + 0.1952% )^-260

P = $29.28 / 0.3977

P = $73.62

You might be interested in
Define hedge fund economics.​
tankabanditka [31]

Answer:

Hedge fund are financial partnerships that use pooled funds and employ different strategies to earn active returns for thier investors.. Hedge fund include long-short equity, market neutral, volatility arbitrage and merger arbitrage. They are generally only accessible to accredited investors

3 0
3 years ago
Patrick purchased a used passenger automobile on June 1, 2018. He paid $19,000 for the automobile. During 2018, he uses the auto
kkurt [141]

Solution:

a. The first year depreciation = $3,160

The second year depreciation = $5,100

b. By considering 75% used for business purchase

    For 2018 , for 7 months remaining

   Depreciation = $3,160 x 75% ( \frac{7}{12}

                         = $1382.50

  For 2019 ,

   Depreciation = $5,100 x 75% = $3,825

8 0
3 years ago
At December 1, 2017, Tamarisk, Inc. Accounts Receivable balance was $17470. During December, Tamarisk had credit sales of $46800
tatiyna

Answer:

$26,830

Explanation:

Given that

Accounts Receivable balance = $17,470

Credit sales = $46,800

Collected accounts receivable = $37,440

The computation of Accounts Receivable balance is given below:-

= Accounts Receivable balance + Credit sales - Collected accounts receivable

= $17,470 + $46,800 - $37,440

= $64,270 - $37,440

= $26,830

7 0
2 years ago
Imagine the economy is defined by the consumption function of C = 140 + 0.9 (Yd) where 140 is autonomous consumption, 0.9 is mar
polet [3.4K]

Answer:

1. Y = 3730

2. Consumption function

Explanation:

1. Given that,

C = 140 + 0.9 (Yd)

T = 0.3Y

Yd=Y-T

I = 400, G = 800, X = 600, M = 0.15Y

Y = C + I + G + (X - M)

Y = 140 + 0.9 (Y - 0.3Y) + 400 + 800 + (600 - 0.15Y)

Y = 140 + 0.9 Y - 0.27Y + 1,800 - 0.15Y

Y = 1,940 + 0.48Y

Y - 0.48Y = 1,940

0.52Y = 1,940

Y = 3,730.76 or 3,730

2. C = 210 + 0.8 (Yd) is a consumption function.

5 0
2 years ago
One year ago, you purchased a stock at a price of $55.20 per share. Today, you sold your stock at a loss of 18.63 percent. Your
xeze [42]

Answer:

Dividend = $2.34

Explanation:

Purchase Price = $55.20

Loss on stock = 18.63% of $55.20 = $10.28

Capital Loss = $12.62

Dividend = Capital Loss - Total Loss

Dividend = $12.62 - $10.28

Dividend = $2.34

6 0
2 years ago
Other questions:
  • James is currently unemployed. He is disappointed every Sunday when none of the job advertisements in the newspaper are for work
    7·1 answer
  • Who is generally responsible for the materials price variance? the materials quantity variance? the labor efficiency variance?
    13·1 answer
  • You work in a job that pays $10 an hour. You also work 40 hours a week. Your _____ is $400 per week.
    10·2 answers
  • Your company's intranet Web server has crashed. You must help re-create the server. A server administrator has copied a script f
    7·1 answer
  • Alana lives in a country in which the government does not impose quotas on what can be imported or on what businesses can produc
    6·1 answer
  • The return on shareholders' equity for... Income statement: 2018 Sales $ 2,500,000 Cost of goods sold 1,300,000 Net income 200,0
    6·1 answer
  • Candlewood LLC started business on September 1, and it adopted a calendar tax year. During the year, Candlewood incurred $6,500
    7·1 answer
  • Walmart Approximately what percentage of shrink is caused by theft
    14·1 answer
  • Luther company uses a predetermined over head rate of $23.40 per direct labor- hour. This predetermined rate was base on a cost
    6·1 answer
  • Public education in texas is overseen by both elected and appointed officials. true or false?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!