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
Two foreign companies want to trade shares of their stock on u.s. stock exchanges. one company follows ifrs but the other compan
Svetach [21]

Answer;

-A foreign company that wants to have their shares traded on U.S. stock exchanges who uses accounting practices that comply with IFRS

Explanation;

Financial Accounting Standards Board (FASB) is the primary accounting standard-setting body in the United States. Generally accepted accounting principles (GAAP) is a set of accounting standards that have substantial authoritative support and which guide accounting professionals.

-FASB goal is to provide leadership for public companies in establishing and improving the accounting methods used to prepare financial statements. The FASB has the authority to set, but not enforce, accounting standards. Enforcement falls under the jurisdiction of the SEC. The FASB takes recommendations from the SEC and the AIPA when devising or improving standards; however, it is not required to.

3 0
3 years ago
Clickable text or images that take you to different sites on the World Wide Web are called
pashok25 [27]

Answer:hyperlinks

Explanation:

3 0
2 years ago
What is traditionalist account? Give an example.​
horsena [70]

Answer:

in folklore, a narrative containing information about actual persons and events. Originating from the tales of eyewitnesses, the traditional account departs from its original factual basis when retold and becomes subject to free poetic interpretation.

7 0
2 years ago
Michael (single) purchased his home on July 1, 2009. He lived in the home as his principal residence until July 1, 2017 when he
Nadya [2.5K]

Answer:

correct option is C. $250,000

Explanation:

given data

sold the home and gain = $300,000

to find out

amount of the gain allowed to exclude from gross income

solution

we know that Michael owned the property for the 10 years

so here Michael is not allowed to exclude the gain = 10 % that is $30,000

and The maximum gain exclusion permitted =  $250000

so here Michael will recognize $50,000 because amount exceed $250,000 for a single taxpayer and exclusion of gain on sales of property tax payer need to own and occupy the property as principle residence for the  2 out of 5 year immediately preceding the sales

so here correct option is C. $250,000

5 0
3 years ago
Suppose total deposits in the first bank of commerce are $200,000 and required reserves are $10,000. based on this information,
Bas_tet [7]
0.05

To find the required reserve ratio, we need to know the total deposits and the required reserves amount. 

Next, we divide the required reserve amount by the total deposits. 
$10,000 / $200,000 = 0.05

The 0.05 is the required reserve ratio for First Bank of Commerce.  
4 0
3 years ago
Other questions:
  • S takes out a health insurance policy which contains a provision that states that the agent does not have the authority to chang
    7·1 answer
  • Which of the following is the reason behind the slow growth in U.S. incomes during the 1970s and 1980s?
    12·1 answer
  • Florida state saving bond can be converted to $1000 at maturity date of five year from purchase if the state bond are to be comp
    8·1 answer
  • Economic leverage occurs when a business uses it economic power to:
    11·1 answer
  • You just won a lottery prize of $95,000. While you plan to use some of the sum to pay off your student loans, you would like to
    8·2 answers
  • Bramble Company must decide whether to make or buy some of its components. The costs of producing 69,800 switches for its genera
    5·1 answer
  • D. J. Masson Inc. recently issued noncallable bonds that mature in 10 years. They have a par value of $1,000 and an annual coupo
    11·1 answer
  • Determine the overhead allocated to Job XZ3275 which has 150 pieces, requires 200 miles of driving, and 0.75 hours of logistics.
    8·1 answer
  • Any single people over 15 talking comments please ​
    10·1 answer
  • the process of might be used to determine the value of the smoothing constant that minimizes the mean squared error.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!