Based on the cost of the car and the interest rate, the amount Tracy is to pay is $638.41.
<h3>How much should Tracy pay?</h3>
The cost of the car is the present value of an annuity because Tracy's payment will be constant.
First find the monthly rate:
= 11% / 12 months
= 0.92%
The number of periods:
= 3 x 12 months
= 36 months
Amount to be paid is:
19,500 = Amount x (1 - ( 1 + 0.92%) ⁻³⁶) / 0.92%
Amount = 19,500 / 30.544874328
= $638.41
Find out more on the present value of an annuity at brainly.com/question/25792915.
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Answer:
e. Statement of retained earnings.
Explanation:
Statement of retained earnings -
It refers to the financial statement , that defines the alterations in the retained earning , for a particular time period , is referred to as the Statement of retained earnings .
The statement mention the beginning and the ending retained earnings in the given time frame , which helps to calculates the corporate profit .
Hence , from the given information of the question,
The correct option is e. Statement of retained earnings .
The money multiplier formula tells us the ratio of increase or decrease in the money supply that banks should generate corresponding to each dollar of reserves. This also tells the maximum amount the money supply could increase based on an increase in reserves within the banking system. The answer to this item is letter C.
Brainstorming is the technique used to help groups generate multiple ideas and alternatives for solving problems.
This is usually through a group discussion where the members are asked to throughout a list of ideas and solutions and the group discusses them to find a good alternative.
