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
ss7ja [257]
3 years ago
14

You are planning to buy 2019 MINI Cooper on a loan. Price of the car is $26,000. You are planning to make monthly payments for t

wo years and your bank says they can offer the annual interest rate of 12%, compounded monthly. The first payment starts at the end of the first month. How much is your monthly payment?

Business
1 answer:
Sergeu [11.5K]3 years ago
5 0

Answer:

$1,223.91

Explanation:

As per the concept of time value of money, the value of money today is more than the value of money tomorrow.

Given:

Price of car = $26,000

Interest rate 12%, compounded monthly

Tenure = 2 years

Now, Price of the car is the value of money today to purchase the car. So, while computing the monthly payment for car $26,000 will be considered as present value.

Monthly payment for car can be computed easily using Microsoft excel.

Use the following mentioned formula to calculate the monthly payment.

"=PMT(rate,nper,pv,[fv])"

wherein,

Rate = 12%/2 (because it has been compounded monthly)

nper = 2*12 (because 2 years are to be compounded monthly.)

Pv = $26,000 (as mentioned earlier)

Since, there is no Fv so it blank.

You might be interested in
If an importer has a good reputation regarding its following of Customs regulations, the likelihood that one of its shipments is
Lena [83]

Answer:

E) None of the above

Explanation:

  • The infirmed compliance includes educating the importers on the methods of the classification and assessment of the values to the merchandise and ensuring the familiarity with the laws and regulations of the customs agency.
  • Thus the importers need to develop a good reputation when dealing with the clients and follow the customer's regulations and thus minimizing the delay time and ensuring the supply chain quality service.
8 0
3 years ago
​Lydia, a minor, charges the cost of a smartphone at a Mobile Devices & Minutes store. Two nights later, Lydia loses the pho
MatroZZZ [7]

Answer:

A)​ if it is deemed a necessary good

Explanation:

Minors are not usually bound by a contract, and most of the time they can avoid liability under a contract. Minors can only sign a valid contract if it includes something that is essential for them. Medicines, food and medical services are the only things that are usually considered essential for a minor.

So the store has to prove that selling her the cell phone was a necessity, and something essential for her. It is possible to prove that it was a necessity, but it is something very difficult to do.

But the fact that the contract is not valid doesn't mean that Lydia can do whatever she wants. Her parents are responsible for returning the cell phone or since she lost it, they are responsible for paying it.

6 0
3 years ago
Assume you are the new Product Manager in our Amazon Prime business and are in charge of Pricing. The VP would like to lower the
vaieri [72.5K]

Answer:

Provided in Explanation

Explanation:

This is a very general question however I’ll try to answer it to the best of my knowledge.

If I use my own assumptions then these will be the Projections:

Selling Price         $79.99  Selling Price         $69.99

Cost of Sales/unit $40.00  Cost of Sales/unit $40.00

Expenses/unit $15.00  Expenses/unit $15.00

   

Demand @ $79.99 1000 Demand @ $69.99 1200

   

Sales         $79,990.00  Sales         $83,988.00

Cost of Sales $40,000.00  Cost of Sales $48,000.00

Expenses $15,000.00  Expenses $18,000.00

Profit        $24,990.00        Profit         $17,988.00

The final decision however relies on the Price Elasticity of the Product. If the Product is Price elastic then lowering the Price will lead to a significant rise in Demand. However if the Product is Price inelastic then lowering the Price will not lead to a significant rise in Demand and thus profit margins will be lowered. If the Product is Price inelastic then it is better to increase prices in order to gain more profits. In the case of Unit Elasticity the change in Demand will be at the same proportion as price change so it won’t be of any use to change the Price.

3 0
3 years ago
carlos' firm manufactures custom-made furniture that is sold through various furniture retailers. carlos sources the wood he nee
Papessa [141]

Carlos sources the wood he needs from various lumber manufacturers and uses a distributor to get his products to the retail stores for sale. the suppliers of the wood, the distributor, and the retail stores are all part of a <u>Supply channel</u>

  • Supply chain management, in the context of commerce, is the control of the movement of products and services between establishments. This can involve the transportation and storage of raw materials, inventories for commodities still being produced, finished goods, and the complete fulfillment of orders from the point of production to the point of consumption.
<h3><u>What are the supply lines?</u></h3>
  • When seeking for the finest means to sell their products, a corporation can pick from four primary distribution channels. Direct sales, wholesale, brokerage, and dual distribution are available options. Choose your supply chain distribution partners wisely for best practices.

to learn more about supply chain, Click the links.

brainly.com/question/14301893

brainly.com/question/14089766

#SPJ4

8 0
1 year ago
Which country has an absolute advantage for producing books
MAVERICK [17]

The correct answer is Singapore. For Plato!

6 0
3 years ago
Other questions:
  • What is a mortgage?
    8·1 answer
  • In the​ 1950s, the economist Bela Balassa compared 28 manufacturing industries in the United States and Britain. In every one of
    12·1 answer
  • The ____ shows an organization's profit over a period of time.
    11·2 answers
  • Monthly production costs in Dilts Company for two levels of production are as follows.
    12·1 answer
  • Latasha and Jake need to decide which one of them will take time off from work to complete the rather urgent task of shearing th
    9·1 answer
  • Which act directs manufacturers and sellers to detail the service coverage, terms, and exclusions on products?
    7·2 answers
  • The Marcellus shale is:
    5·1 answer
  • _____ is the careful coordination of all promotional activities to produce a consistent, unified message that is customer focuse
    11·1 answer
  • Which statement is a fair conclusion based on the chart ?
    11·1 answer
  • When the dollar falls compared to other currencies, which group benefits the most?
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!