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
Sophie [7]
3 years ago
12

Help is here, a wrecker company, will soon need to purchase a new wrecker. the company anticipates needing $35,000 in 3 years. t

heir credit union offers an account that pays 3.4% per year compounded monthly for 36 months. find the monthly payment needed to accumulate the desired
Business
1 answer:
kogti [31]3 years ago
5 0

Answer:

Explanation:

The $35,000 that will be needed in 3 years is a future value (FV).

This is an ordinary annuity, and it is asking for the recurring payment (PMT)

Using a financial calculator, input the following;

Future value; FV = 35,000

Total duration ; N = 3*12 = 36 months

Interest rate; I = 3.4%/12 = 0.2833%

One time present cashflow; PV = 0

then compute recurring payment ; CPT PMT =924.86

You might be interested in
Julie and Barry Spinos purchased a house for $96,400. They made a 25 percent down payment and financed the remaining amount at 5
Alinara [238K]

Answer: $79.30

Explanation:

Cost of the house = $96400

Down payment = 25% × $96400 = $24100

Mortgage = $96400 - $24100 = $72300

Interest = 5.5%

Time = 5 years

Monthly payment.= $410.66

The interest for first payment will be:

= $72300 × 5.5% × 1/12

= $72300 × 0.055 × 0.08333

= $331.36

Therefore, the amount of the first monthly payment is used to reduce the principal will be:

= $410.66 - $331.36

= $79.30

5 0
2 years ago
SWOT analysis is useful in part because it obliges the firm to act proactively by putting an emphasis on identifying opportuniti
S_A_V [24]

Answer: True

Explanation:

SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis is very popular because even though it appears simple, it can have such a massive impact on a company because it alerts Management to opportunities that exist to take the firm forward.

It also speaks to the company on ways to converge strategies that aim to harness the strengths or weaknesses in a Firm's INTERNAL and EXTERNAL environment with the aformentioned OPPORTUNITIES and THREATS thereby leading to a COMPLETE decision making process and result that can serve to push the company to be Proactive in taking strides that will grow the company.

SWOT analysis is a pure example of, "Simplicity is the ultimate Sophistication".

4 0
2 years ago
Read 2 more answers
Suppose you are analyzing two firms in the same industry. Firm A has a profit margin of 10% versus a margin of 8% for Firm B. Fi
gogolik [260]

Answer:

The answer is false

Explanation:

Base on the scenario been described in the question, comparing the two firm and saying there will not reach into a conclusion to which firm is better manage is false, this is because the difference in debt is a result of better management, and this could be the cause of Firm A's higher profit margin. So the claim was false

3 0
3 years ago
Dummitt, Inc. anticipates sales of 70,000 units, 68,000 units, and 71,000 units in July, August, and September, respectively. Co
siniylev [52]

Answer:

the number of units produced in August is 68,900 units

Explanation:

The computation of the number of units produced in August is presented below:

Sales 68,000 units

Add: ending inventory (71,000 units × 30%) 21,300 units

Less: beginning inventory (68,000 units × 30%) -20,400 units

Production in August 68,900 units

Hence, the number of units produced in August is 68,900 units

The same format should be used  

8 0
3 years ago
The fed wants to decrease the money supply when the economy is booming and inflationary pressures ________ in the economy.
aleksandr82 [10.1K]
Hey there.......


the answer is .........
   raises

hope it helps


extra info: The inflation gap is a Negative function of the unemployment gap. Expectations eliminate the effectiveness of the policy.

more

When decelerating below long-run trend growth, stimulate it with expansionary policy.
8 0
3 years ago
Other questions:
  • Milton Rokeach created the Rokeach Value Survey (RVS), which consists of two sets of values, namely ________ values and ________
    10·2 answers
  • Which of the following is an example of an activity undertaken by an​ entrepreneur? A. being promoted to the position of Chief o
    12·1 answer
  • With a​ downward-sloping demand​ curve, average revenue is equal to price A. because the firm must lower its price to sell addit
    14·1 answer
  • Imagine a linear demand curve graphed with Quantity on the x-axis and Price on the y-axis. We know the middle of the curve is th
    7·1 answer
  • This question, used by solution focused therapist, is intended to circumvent clients global and unremitting perceptions of the p
    13·1 answer
  • If you put $7000 in a saving account that earns 2% interest for 10 years, how much will you have in
    15·1 answer
  • Which of these is an example of a shortage?
    9·1 answer
  • Maria is a recruiter with a bachelor's degree in business administration. She is well respected among her peers for her professi
    10·1 answer
  • In this type of economy, the government will control some of the means of production, but not all of it. You can still become we
    13·1 answer
  • Newtech corporation is offering a 10% stock dividend. The firm currently has 200,000 shares outstanding and after-tax profits of
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!