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inessss [21]
3 years ago
12

Sam Robinson borrowed $11,000 from a friend and promised to pay the loan in 10 equal annual installments beginning one year from

the date of the loan. Sam’s friend would like to be reimbursed for the time value of money at a 10% annual rate. What is the annual payment Sam must make to pay back his friend? (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)
Business
1 answer:
Y_Kistochka [10]3 years ago
4 0

Answer:

P = $1790.01

Explanation:

Given data:

Borrowed money = $11,000

Number of installment = 10

Annual rate of interest = 10%

11,000 = P(1.1)^1 + P(1.1)^2 + P(1.1)^3 + P(1.1)^4 + P(1.1)^5 + P(1.1)^6 + P(1.1)^7 + P(1.1)^8 + P(1.1)^9 + P(1.1)^10

\frac{11,000}{17.53} = P

P = $627.45

PV of annuity is given as:

PV of annuity = P*[\frac{(1-(1+r)^{-n})}{ r}]

P - Periodic payment

r - rate per period

n - number of periods

11,000 = P*[\frac{(1-(1+0.1)^{-10})}{0.1}]

P = $1790.01

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Croft Corporation produces a single product. Last year, the company had a net operating income of $89,000 using absorption costi
Maksim231197 [3]

Answer:

21,200 units

Explanation:

For determining the sales, first we have to compute the net operating income difference which is shown below:

= Net operating income under absorption costing - Net operating income under variable costing

= $89,000 - $74,600

= $14,400

Now the inventory units increased by

= $14,400 ÷ 12 per unit

= 1,200 units

And, the production units are 22,400

So, the sales would be

= 22,400 units - 1,200 units

= 21,200 units

This is the answer and the same is not provided in the given options

4 0
2 years ago
Rhonda would like to call her coworker Jessica, but she only remembers the first three digits of the seven-digit telephone numbe
viva [34]

Answer:

120 calls

Explanation:

A phone number has 7 digits, of which we know three, leaving 4 spaces left.

Those four spaces are all different even numbers. Even numbers of only one digit include: 0,2,4,6,8. In total there are 5 options.

So the equation is simply multiply 5 x 4 x 3 x 2 = 120.

5 0
2 years ago
Bramble Corp. makes and sells umbrellas. The company is in the process of preparing its Selling and Administrative Expense Budge
azamat

Answer:

$93,840

Explanation:

Calculation to determine how much is the total budgeted variable selling and administrative expenses for October

October Total budgeted variable selling and administrative expenses=

(0.6 + 1.2 + 0.3 + 0.35) x 7200 +6000 + 39,000 + 7,200 + 24,000

October Total budgeted variable selling and administrative expenses=2.45x 7200 +6000 + 39,000 + 7,200 + 24,000

October Total budgeted variable selling and administrative expenses=$17,640+6000 + 39,000 + 7,200 + 24,000

October Total budgeted variable selling and administrative expenses=$93,840

Therefore the total budgeted variable selling and administrative expenses for October is $93,840

4 0
3 years ago
In addition to biases existing on the part of people who do the ratings, the people who receive evaluations (i.e., the ratees) c
Anton [14]

Answer:

A

Explanation:

In addition to biases existing on the part of people who do the ratings, the people who receive evaluations (i.e., the ratees) can be biased as well. One example of ratee bias is EGOCENTRIC BIAS, which is best described as: The tendency to evaluate oneself more favorably than others do

Egocentric bias happens when you depend on your way of perceiving things more than it really is or how it looks in the eys of others. It is basically seeing things through your perspective.

6 0
3 years ago
Read 2 more answers
What term refers to people who are trendy and fashionable in order to impress others and are often impulse buyers?
oee [108]

Answer: Strivers

Explanation:

The term that refers to people who are trendy and fashionable in order to impress others and are often impulse buyers is Strivers.

It should be noted that Strivers are usually consumers that are from low income families but they so much believe in style and fashion and really wants to impress and emulate celebrities or high income earners who use lastest trends or fashion.

5 0
2 years ago
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