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
Svet_ta [14]
3 years ago
12

Quantitative Problem: You need $11,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortiz

ed loan. He would like you to make annual payments for 4 years, with the first payment to be made one year from today. He requires a 9% annual return. What will be your annual loan payments
Business
1 answer:
Ratling [72]3 years ago
3 0

Answer:

The annual loan payments are closest to  $3,395.36  

Explanation:

The annual payment on the amortized loan can be ascertained using the pmt formula in excel :

=pmt(rate,nper,-pv,fv)

rate is the 9% annual return expected by the uncle

nper is the length of repayment which is 4 years

pv is the amount borrowed which is $11,000

fv is the future worth of the loan which is unknown

=pmt(9%,4,-11000,0)=$3,395.36  

You might be interested in
Majer Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Co
irina1246 [14]

Answer:

Variable overheads efficiency variance = $13,040  favorable  

Explanation:

<em>Variable overheads efficiency variance is the difference between the standard hours of actual output and actual hours valued at the standard variable overhead rate per hour </em>

                                                                                       Hours

5,900munits should have taken (5,900× 0.9)          5,310

but did take                                                                 <u> 2050  </u>        

efficiency variance in hours                                         3,260 favorable

Standard rate per hour                                               <u>   $4.00 </u>  

Variable overheads efficiency variance                   <u>   13,040 favorable </u>

Variable overheads efficiency variance = $13,040  favorable          

3 0
3 years ago
If gas prices fell sharply, what would economists expect to happen in the market for fuel-efficient hybrid cars?
Thepotemich [5.8K]

Answer:

The correct answer is:  a decrease in the price and quantity of hybrid cars.

Explanation:

According to the Efficient Market Hypothesis (EMH), publicly-available information influence the asset's price movement. In that sense, if it is widely known that the gas prices will fall sharply, hybrid cars -fuel and electrical fueled cars, will see a fall in their price since the demand will increase. As implies fewer profits for a company, they are likely to produce fewer units of those types of vehicles.

5 0
4 years ago
When the value of a bank's assets is than its liabilities, the bank is said to be:_____.
mr_godi [17]

The value of a bank's assets is than its liabilities, the bank is said to be  <u>solvent</u>

<h3>What is assets?</h3>

Any resource that a company, an organization, or an economic body owns or controls is considered an asset. It encompasses everything that has the potential to generate gains in the economy. When turned into money, assets indicate the worth of ownership.

<h3>What do you mean by solvent in accounting?</h3>

A company's capacity to fulfill its short-term and long-term financial commitments is known as its solvency. One indicator of a company's financial health is its level of solvency, which reveals whether it will be able to continue running its business into the near future. Ratio analysis is a tool investors can use to assess a company's solvency.

To know more about solvent in accounting visit:

brainly.com/question/17373453

#SPJ4

3 0
2 years ago
Which of the following is not considered a credit?
Serga [27]

Answer:

which of the following is not considered a credit?

overdraft fee

Explanation:

5 0
3 years ago
Responsibility for the financial statements and other information found in the annual report lies with
RSB [31]

Answer:

Management

Explanation:

The Management of the company are appointed as stewards by the owners of the company (shareholders). They have a role in reporting the entity`s operations and ensuring that they provide a good return for the shareholders investments.

5 0
3 years ago
Other questions:
  • Bill operates a proprietorship using the cash method of accounting, and this year he received the following: $170 in cash from a
    12·1 answer
  • Kevin has taken an apartment on lease for five years with a monthly rental of $3,500. At the end of five years, Kevin will be th
    8·1 answer
  • The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,049. A
    9·1 answer
  • Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2019: (Loss amounts should be indica
    13·1 answer
  • Ryan has been asked to give his supervisor a concise summary of a proposal that he will be delivering to the board of directors
    7·1 answer
  • g The Esposito Import Company had 1 million shares of common stock outstanding during 2021. Its income statement reported the fo
    7·1 answer
  • Ibarra Corporation uses the FIFO method in its process costing system.
    8·1 answer
  • Strategic behavior is required to win a presidential election. For each example below, indicate if it is a rule, strategy, or pa
    6·1 answer
  • You work for a Europe-based company that is interested in doing business internationally. As a top manager of the firm, you want
    13·1 answer
  • Zeldas, a national manufacturer of lawn-mowing and snow-blowing equipment, segments its business according to customer type: Pro
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!