The correct statement is that the monthly payments on the purchase of a new car by Renee will be $655 on the interest rate of 11.34 percent for a period of four years.
The calculation of the value of the monthly payments to be made by Renee can be ascertained by computing all the costs of such transaction and then division by the number of months available.
<h3>Calculation of Monthly Payments</h3>
The total principal net value of the car comes down to $19945 after adding all the costs and deducting the trade-in value of the old car at 85% of the total value.
The formula for the calculation of total annuity is as below and the values given are being applied,
Now the monthly payments over a period of four years will be,
So, a monthly payment of $655 needs to be made in order to purchase such a car.
Hence, the correct statement is that the monthly payments on the purchase of a new car by Renee will be $655 on the interest rate of 11.34 percent for a period of four years.
Learn more about Monthly Payments here:
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Answer:
2021: 675
2022: 2,025
Explanation:
The Company loaned in the month of October 2021, so three months interest income will be recognized calculated as follows:
27,000 * 10% (3/12) = 675
On 1 October 2021, the Company accepted 12 months note so it means that the loan was repaid on 30 September 2022, thus 9 months interest revenue will be recorded:
27,000 * 10% (9/12) = 2,025
Answer:
$0
Explanation:
Velma's standard deduction for 2019 is $12,200, since it is higher than her actual income ($12,000 ≥ $10,000), Velma will not pay any income taxes. If Velma made the mistake of making an itemized deduction, she would end up paying taxes, but no one would make that type of mistakes.
Answer:
c. products moved to the factory by suppliers
Explanation:
Reverse logistics in the supply chain encompasses a variety of activities that go against direct logistics that follows the usual sense of the supply chain which would be manufacturer -> customer, this being inverse as follows; consumer or customer -> manufacturer or supplier.
Answer: $13,580
Explanation:
The ending balance of the Work in Process:
= beginning Work in Process inventory + direct materials + direct labor + factory overhead - transferred out of the department
= $11,300 + $77,300 + $25,300 + $15,180 - $115,500
= $13,580
Therefore, the ending balance of the Work in Process Inventory account for the Fabricating Department is $13,580.