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Liono4ka [1.6K]
3 years ago
9

New Body, a gym, bought new exercise equipment on credit. The purchase price was $10,438.88. They secure the loan with a financi

ng company that charges 6.25% per year compounded quarterly for 6 years. How much are their quarterly payments?
Present Value with compound interest
Future V alue of an Annuity
Present V alue of an Annuity
Amortization
Sinking Fund

a. $578.41
b. $524.94
c. $503.78
d. $612.94
e. $486.78
Business
1 answer:
LiRa [457]3 years ago
4 0

Answer:

b. $524.94

Explanation:

We need to solve for the PTM of a 6 year annuity with quarterly payment discount for 6.25% compounding quarterly as well:

PV \div \frac{1-(1+r)^{-time} }{rate} = PTM\\

PV $10,438.8800

time 24 (6 years x 4 quarter per year)

rate 0.015625 8 ( 0.0625 / 4 )

The payment every quarter will be for:

10438.88 \div \frac{1-(1+0.015625)^{-24} }{0.015625} = PTM\\

PTM  $ 524.942

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Which of the following are true?
igor_vitrenko [27]

Answer:

  • A. The data in D3 is skewed right.
  • B. Three quarters of the data values for D2 are greater than the median value for D1 .
  • E. At least a quarter of the data values for D3 are less than the median value for D2 .

Explanation:

A Box Plot can be interpreted as follows;

The first point on the line is the minimum value.

The first end of the box is the First Quartile of the data range.

The next line is the Median.

The last end of the box is the Third Quartile.

The last point on the line is the maximum value.

Most of D3 lies on the right side of Median so it is skewed right.

The First Quartile of D2 is more than the Median of D1 which means that 3 quarters of D2 (first quartile to the maximum value) are greater than the median of D1.

D2's Median value is greater than the Third Quartile of D3 which means that more than just a quarter of D3 falls below D2's Median so option E is correct.

4 0
3 years ago
What is one benefit of continuing your education after high school?
Molodets [167]

Answer:

C

Explanation:

The most relevant one because university is the place to produce expert in many fields. Thus this will increase your earnings within your course of career.

3 0
2 years ago
What is the name of the technique used to open the airway of an unresponsive not-breathing guest?
AlexFokin [52]
The technique being used above is called the jaw thrust. This is being done with the person who is not breathing. They tend to open the airway of patient to allow him or her to enter airway into her system. They perform a specific procedure in doing these to completely do the task for it to be more effective and to allow the patient to breathe.
6 0
3 years ago
Read 2 more answers
Assume that ABC had a retained earnings balance of $10,000 on April 1, and that the company had the following transactions durin
Lostsunrise [7]

Answer:

ABC's retained earnings balance at the end of April is $11,400

Explanation:

The addition to retained earnings in the current month is revenue derived from providing services to customers minus the expenses such as rent and employee salaries

Net income for the month=$2,000+$900-$800-$700=$1400

Retained earnings at month end=opening retained earnings+net income

Retained earnings at month end=$10,000+$1,400=$11,400

8 0
3 years ago
Wilson Trucking, Inc. reports these account balances at January 1, 2015 (shown in alphabetical order):Accounts Payable $220,000A
dexar [7]

Answer:

The correct option is C,$ 1,399,000

Explanation:

The items on the credit column would be the sum of  accounts payable, capital stock, notes payable and retained earnings  minus the payment of accounts payable and notes payable

Accounts payable is $220,000

capital stock is $680,000

notes payable is $520,000

retained earnings is $140,000

payment in respect of accounts payable is $150,000

payment in respect of notes payable is $11,000

total of credit column=$220,000+$680,000+$520,000+$140,000-$150,000-$11,000=$ 1,399,000.00  

6 0
3 years ago
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