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trapecia [35]
3 years ago
10

She negotiated a price of $21,900 and will trade in her old car for $2,350. She will put another $850 with it and borrow the rem

ainder at 6% interest compounded monthy for 4 years. What will her monthy payment be?
Business
1 answer:
lisabon 2012 [21]3 years ago
6 0

Answer:

The monthly payment will be $434

Explanation:

Price of New car = $21,900

Price of old car exchanged = $2,350

Cash Payment = $850

Amount of Loan = $21,900 - $2,350 - $850

Amount of Loan = A = $18,700

Rate of interest = r = 6% = 0.06 = 0.005 per month

Number of total periods = 12 x 4 = 48

P = $18500 / { [ ( 1 + 0.005 )^48 ] - 1 } / [ 0.005 ( 1 + 0.005)^48 ]

P = $18500 / [ 0.2704891611 / 0.006352446 ]

P = $18500 / 42.58

P = $434.47

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When bonds are converted into common stock____.
nexus9112 [7]

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When bonds are converted into common stock____.

a. the market price of the stock and the bonds is ignored when recording the conversion.

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3 years ago
A company is formulating its marketing expense budget for the last quarter of the year. Sales in units for the third quarter amo
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Answer:

a. $29,496

b. $21,996

Explanation:

a. The Computation of budgeted marketing expense for the fourth quarter is shown below:-

Sales units                                                            2,640

(2400 × 110%)

Variable marketing expenses per unit sold $0.15

Total Variable marketing expenses                 $396

Fixed Marketing expenses                                    $18,000

Salaries ($6,000 × 3)

Depreciation ($2,500 × 3)                                      $7,500

Insurance ($1,200 × 3)                                            $3,600

Total Fixed marketing expenses                            $29,100

Budgeted marketing expense

for the fourth quarter                                           $29,496

b. Estimated cash payment for marketing expenses for the fourth quarter = Budgeted marketing expense for the fourth quarter - Depreciation

= $29,496 - $$7500

= $21,996

7 0
3 years ago
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