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Over [174]
3 years ago
5

Axl will be borrowing $300,000 today to buy a house, and he will pay it back with 20 yearly payments starting one year from toda

y. If the effective annual interest rate is 7%, how much will the first payment be if the annual payments are constant
Business
1 answer:
Natalija [7]3 years ago
4 0

Answer:

$28,317.88.

Explanation:

The annual payment, PMT can be determined using a financial calculator as follows :

PV =  $300,000

N = 20

P/YR = 1

R = 7.00 %

FV = $0

PMT = ?

Using a financial calculator, the annual payment, PMT is $28,317.88.

You might be interested in
Peggy is the revenue manager at a 1500 room hotel. For next Friday Peggy's PMs shows 300 check-outs, 900 stayovers, 250 transien
skelet666 [1.2K]

Answer:

option (A) 150

Explanation:

Data provided in the question:

Number of rooms in the hotel = 1500

Number of checkouts = 300

Number of stayovers = 900

Number of transient arrivals = 250

Group block that begins a three stay on that day = 200

Now,

Rooms available for next Friday

= Total number of rooms - ( stayovers + transient arrivals + group block)

= 1500 - ( 900 + 250 + 200)

= 150

Hence,

the correct answer is option (A) 150

7 0
3 years ago
the government removes a $4 tax on buyers of restaurant meals and imposes the same $4 tax on sellers of restaurant meals, then t
lesya692 [45]

Answer:

(B)

Explanation:

The price paid by buyers will not change, and the price received by sellers will not change because;

First,

Buyers paid 4$ tax before, later government removes or substracts -$4 tax away causing tax on meal purchased by buyers = $0.

Second,

Prior to removal of the tax on buyers of meals, sellers would have likely included this cost $4 into their cost of meals to buyers.

Now buyers are not imposed tax but the sellers are. Sellers would include this cost into the cost of meals, which is then transferred to buyers.

The equation would look this way;

Cost +$4 tax - $4 tax= + $4

The same cost would apply.

4 0
3 years ago
Which of the following statements is correct?A.The payment of a cash dividend reduces net income.B.Cash received from issuing co
ioda

Answer:

B.Cash received from issuing common stock to stockholders is reported as a financing activity cash flow within the statement of cash flows.

Explanation:

As when common stock is issued, it provides cash to the company, for any kind of investments, or expense to be made, for running the business.

Financing activities are those which arrange monetary assets generally cash for the company, issue of securities, issue of bonds, borrowings as loans or note payable.

Thus, the statement B is correct.

Further dividends are provided after tax, and are distribution from net income, but not shown under that.

Providing services on account will provide revenue and net income will increase.

Purchasing of any equipment is investing as it will create an asset for the company.

7 0
3 years ago
The salesperson for the Big Apple Sign Corporation was trying to get a hardware storeowner to buy a new kind of advertising tool
Mars2501 [29]

Answer:

The answer is: E) modified rebuy

Explanation:

A modified rebuy happens when a company (or an individual consumer) will buy a product or service which it has already purchased in the past. But now the company wants to change either the supplier, the product's specifications or the terms of the sale.

In this case, the store owner had already bought advertising tools before, but not this type.

6 0
3 years ago
Read 2 more answers
The income effect indicates that a ______ price increases the purchasing power of income, enabling consumers to purchase ______
Margaret [11]

Answer:lower;more

Explanation:

5 0
1 year ago
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