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Allushta [10]
3 years ago
7

Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 2

59,873.20 2 1,167.34 539.24 628.10 259,245.10 3 1,167.34 x y z With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan. Give your answer to the nearest hundredth percent. Do not include the % sign in your response.
Business
1 answer:
Thepotemich [5.8K]3 years ago
4 0

Answer: 2.5186 percent

Explanation:

First you have to understand that the payment includes Payment Interst plus Debt Payment and that the Payment Balance is the Loan Amount minus the Debt Payment; with this information you calculate the Loan Amount that is 260,500.00 and calculate the rate per month (use the interest debt / Loan Amount) which results in 0.2075 percent (TEM).  To calculate the annual interest rate you use the formula to convert to TEA which is ((1+TEM)^12)-1).

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Signal mistakenly produced 1,450 defective cell phones. The phones cost $64 each to produce. A salvage company will buy the defe
posledela

Answer:

Incremental income from reworking the phone   is $49,300

Explanation:

                         Scrap              Rework

Sales                $46,400          $214,600

                        <em>(32 * 1,450)      (148 * 1,450)</em>

<em />

- Rework costs       0                   $118,900

                          <u>                         </u><em><u>(82 * 1,450)</u></em>

Profit                 <u>$46,400            $95,700</u>

Incremental income from reworking the phone  

= $95,700 - $46,400

= $49,300

5 0
4 years ago
why profit maximization happens at the point where MR = MC, and not where MR is greater than MC. Refer to Figure 7.2. in the tex
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3 0
3 years ago
Which of the following is an example of price discrimination? a. An online bookstore charges more for overnight shipping than st
Vladimir [108]

Answer:

c) Hotel rates for AAA members are lower than for nonmembers.

Explanation:

In business, the term price discrimination refers to the strategy by which the seller charges a different price for the SAME product because the seller knows that the client will pay that price. The key word of this definition is that the seller is offering the <u>same</u> service/product but at different costs

If we take a look at our options we can see that a) offers a different service (one is overnight shipping and the other is standard), b) also offers a different product (first-class seats vs. coach), finally, c) offers the same product (the same hotel rooms) but non members pay more for the rooms than AAA members.

Thus, the correct answer is c) Hotel rates for AAA members are lower than for nonmembers.

8 0
4 years ago
On September 1, 2021, Daylight Donuts signed a $100,000, 9%, six-month note payable with the amount borrowed plus accrued intere
Vinil7 [7]

The interest payable at the time period indicated will be $3000.

<h3>How to calculate the interest?</h3>

From the information given, the interest payable will be:

= Note value × Interest time × Time period

= $100000 × 9% × 4/12

= $100000 × 0.09 × 1/3

= $3000

In conclusion, the interest payable at the time period indicated will be $3000.

Learn more about interest on:

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8 0
2 years ago
Emilee signed a rental agreement for her new condo after she moved out the owner determined that the condo needed to be cleaned
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Explanation:

6 0
3 years ago
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