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stich3 [128]
3 years ago
14

A person has taken a loan of $6000.00 for a fixed annual interest rate of 6% for 5 years with no down payment. the monthly payme

nt has been fixed at $116.00 for entire term of the loan. here is the formula to calculate monthly fixed payment:
Business
1 answer:
Ilia_Sergeevich [38]3 years ago
8 0
The formula for calculating the uniform monthly payments is as follows:
A=\frac{P(i*(1+i)^{n})}{(1+i)^{n}-1}
where 
P=amount borrowed=6000
i=monthly interest, equals APR/12=0.06/12=0.005
n=number of periods/months (number of years * 12)=5*12=60

Here, substituting numerical values,
A=\frac{6000(0.005*(1+0.005)^{60})}{(1+0.005)^{60}-1}
=$115.997
=$116.00 (to the nearest cent)

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Suppose Bulgaria produces only smartphones and trucks. The resources that are used in the production of these two goods are spec
Arlecino [84]

Answer:

The correct answer is decrease.  

Explanation:

The cost of opportunity represent the benefits that you misses out on when choosing one alternative over another.  

In this case, the cost of opportunity is making smartphones and because of  the shape of Bulgaria’s PPF should reflect the fact that as Bulgaria produces more trucks and fewer smartphones,  the opportunity cost will be weaker. Bulgaria can´t produce only smartphones, you have to make more trucks than smartphone. So that will be a reason to prefer making trucks over smartphones ( the cost opportunity looses power)

3 0
3 years ago
7. Eva and Maria entered into a written contract pursuant to which Eva was to render decorating services for Maria for a total p
xxMikexx [17]

Answer:

(a) Eva endorsed the check, without making any further notations on it, deposited it and sued Maria for the remaining $15,000 she claims is due. Judgment for whom?

Maria's debt is settled (cancelled) because Eva accepted the check and did not write "under protest" or "without prejudice" when she endorsed it. This debt was an unliquidated debt since maria and Eva did not agree on the total amount due, but since Eva cashed the check without writing down any type of notation with respect to their disagreement, the debt will be considered settles.

(b) Instead of the facts in (a) assume that Eva wrote "under protest" on the check when she endorsed it and, after depositing it, sues Maria for $15,000. What result?

If Eva wrote under protest, then she is not accepting Maria's payment. She is entitled to cash the check because she might need the money, but she is making it clear that she doesn't agree with the settlement. Eva could win the suit (that also depends on other factors not specified in the question).

(c) Instead of the facts in (a) and (b), assume that Eva and Maria had a telephone conversation in which Eva agreed to take $60,000 in full satisfaction of Maria’s obligation under the contract. Maria then sent the check, with a letter referencing the telephone conversation. Eva wrote "under protest" on the check, endorsed and deposited it, and then sued Maria for $15,000. What result? Explain.

Unless Maria can prove that Eva agreed with the $60,000 payment, then a court would not even consider the telephone call and the outcome would be similar to question (b). The problem with oral agreements is that one party will say this and the other party will say something else. You need some type of proof in order for an oral agreement concerning a $75,000 (or even $60,000) dispute to be valid.

3 0
3 years ago
Which of the following is used to calculate total variable overhead variance where VOH = Variable Overhead, SVOR = Standard Vari
jenyasd209 [6]

Answer:

See below.

Explanation:

Total Variable over head variance = Spending variance + Efficiency variance

Total Spending variance = VOH - SVOR × AH

Total Efficiency variance = SVOR * ( AH - SH)

Assuming we only want total spending variance then option A is correct, however if we assume total overhead variance is required option E would be correct as we also need to account for the efficiency variance of overhead as per the difference between actual and standard hours worked.

Hope that helps.

6 0
3 years ago
Florence deposited ₱ 14,800 in a bank that gives 4.35% simple interest. after 2years 4months, she went back to the bank to check
Nadusha1986 [10]

Answer:

₱ 16,300.054

Explanation:

The formula for calculating simple interest is as below.

I= p x r x t

In this case, p= 14,800, r = 4.35% and t is 2 years and 4 months

the interest rate is in years; we need to convert two years and four months to years.

=4 months = 4/12 of one year = 0.33

2 years 4 months = 2.33 year

I= 14,800 x 4.35/100 x 2.33

I= 14,800 x 0.0435 x 2.33

I=1,500.054

the amount in the bank will be principal plus interest

=14,800 + 1500

=16,300.054

5 0
3 years ago
During 2009, Accent Toys Plc., which began business in October of that year, purchased 15,000 units of a toy at cost of $10 per
telo118 [61]

Answer:

$183,000

Explanation:

The computation of the cost of goods sold using the FIFO method is shown below:

= Number of units purchased × per unit + additional units purchased × per unit

= 15,000 units × $10 + 3,000 units × $11

= $150,000 + $33,000

= $183,000

Since there are 18,000 units are sold

out of which 15,000 are at $10 and the remaining 3,000 units are at $11 and the same is to be considered    

5 0
3 years ago
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