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
RUDIKE [14]
3 years ago
13

Tony borrows $1300 at an annual interest rate of 6.0%. He receives the loan on the first day of the current month and will make

monthly payments on the first day of each of the following months until the loan is repaid after 24 months (2-year loan). The monthly loan payment is $57.62. How much interest will Tony pay as part of the first loan payment?
Business
1 answer:
Vladimir [108]3 years ago
4 0

Answer:

Tony will pay interest of $6.50 as part of the first loan payment.

Explanation:

Amount of Loan = $1300

Annual Interest  = 6%

Monthly interest rate = 6% / 12 = 0.5%

Monthly Loan Payment = $57.62

Monthly installment is compromised of the interest payment on the due balance and the principal payment.

Interest payment in first installment = $1300 x 0.5%

Interest payment in first installment = $6.50

Principal portion of first installment = $57.62 - $6.50

Principal portion of first installment = $51.12

You might be interested in
Parsons Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last
arsen [322]

Answer:

option (C) 32,750 hours

Explanation:

Data provided in the question:

Actual manufacturing overhead cost = $250,000

Overapplied overhead = $12,000

Predetermined overhead rate = $8.00 per direct labor-hour

Now,

The total Manufacturing Overhead applied last year

= Actual manufacturing overhead cost + Overapplied overhead

=  $250,000 + $12,000

= $262,000

Therefore,

Direct Labor Hours worked last year = \frac{\textup{Total Manufacturing Overhead applied}}{\textup{Predetermined overhead rate}}

or

=  \frac{\textup{262,000}}{\textup{8}}

= 32,750 hours

Hence,

The correct answer is option (C) 32,750 hours

6 0
3 years ago
In an example, a local church is made up of people who are very different in their lifestyles and their stages of life. Mary is
vladimir2022 [97]

Answer:

C) Self actualization

Explanation:

From the question, we are informed about example of alocal church is made up of people who are very different in their lifestyles and their stages of life, we are told if Mary who is is a 23-year-old single parent who earns the minimum wage. Jonathan is 60 years old, extremely wealthy, and works because he enjoys it. Jane is a 45-year-old lawyer who earns well and is well-respected in her profession. She is extremely career-oriented and is proud of her achievements.

In this case, self actualization would motivate Jonathan the most. This is because self actualization can be regarded as self fulfilment, it is when one fully realize his/her potential and gives appreciation, and here

Jonathan is 60 years old, and described as extremely wealthy, and works because he enjoys it. Hence self actualization is the best answer.

8 0
3 years ago
You should consider a person's a. Grade in the class b. Personality before asking them to join your study group. C. All of these
Volgvan

Answer:

according to meh it's

C-ALL OF THESE

Explanation:

✧\(>o<)ノ✧

8 0
2 years ago
Read 2 more answers
The following transactions were completed by the company.
myrzilka [38]

Answer:

there is not enough room here, so I used an excel spreadsheet.

Explanation:

Download pdf
3 0
3 years ago
Activity #1 picture identification as to what type of business
Ann [662]

Answer:

1. Manufacturing

2. Service

3. Merchandising

4. Manufacturing

5. Hybrid type of business

Explanation:

I'm not sure about my answers but- they are based on logic if you look closely at each picture

¯\_(ツ)_/¯

3 0
2 years ago
Other questions:
  • Jeff and Robert form KS VENTURES Corporation. Jeff transfers property (basis of $105,000 and fair market value of $90,000) while
    9·1 answer
  • In pure competition, producers compete exclusively on the basis of
    7·2 answers
  • A _______ is a cluster of complementary products and services that are closey related in the minds of consumers but are spread a
    14·1 answer
  • The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company.
    12·1 answer
  • If the capitalization rate on a building that produces a $20,000 annual income is 10 percent, what is the estimated value of the
    13·1 answer
  • You want to buy your dream car which will cost you $5900. If you could invest your entire savings of $3500 at an annual interest
    14·1 answer
  • You have $2,000 today in your savings account. How long must you wait for your savings to be worth $4,500 if you are earning 1.2
    10·1 answer
  • Please help!!! due tmrw!!!
    6·1 answer
  • Martin Company currently produces and sells 35,000 units of product at a selling price of $13. The product has variable costs of
    10·1 answer
  • What are the 4 factors that affect the international business environment? Give two examples/characteristics of each.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!