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Hoochie [10]
3 years ago
12

Phil purchased a car today at a price of $8,500. He paid $300 down in cash and financed the balance for 36 months at 5.75 percen

t, compounded monthly. What is the amount of each monthly loan payment
Business
1 answer:
Yanka [14]3 years ago
6 0

Answer:

\large\boxed{\large\boxed{\$ 248.53}}

Explanation:

The equation to calculate the <em>monthly payment</em> for fixed-rate loans is:

     Monthly\text{ }payment=Loan\times \bigg[\dfrac{r(1+r)^t}{(1+r)^t-1}\bigg]

Where:

  • Loan = $8500 - $300 = 8,200
  • r is the monthly interest = 5.75% / 12 = 0.0575/12 ≈ 0.00479
  • t is the number of moths = 36

Substituting:

Monthly\text{ }payment=\$8,200\times \bigg[\dfrac{(0.0575/12)(1+(0.0575/12))^{36}}{(1+(0.0575/12))^{36}-1}\bigg]=\$ 248.53

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kolezko [41]

Answer:

<u>monthly flexible budget for each $11,100 increment </u>

Sales                                                               $11,100

Less Sales Commissions ( $11,100 × 6%)       ($666)

Net Sales                                                       $10,434

advertising ( $11,100 × 5%)                              ($555)

traveling ( $11,100 × 4%)                                  ($444)

delivery ( $11,100 × 2%)                                   ($222)

Net Income                                                     $9,213

Explanation:

Consider Only the incremental costs and revenues.Fixed costs are not relevant for the $11,100 increment

<u />

4 0
3 years ago
What is it about incentive systems that makes them so attractive to leaders attempting to implement organizational change
sveticcg [70]

Answer:

Incentive systems are so attractive to leaders who attempt to implement organizational change because they are powerful tools that can influence and motivate workers to embrace organizational change.

Explanation:

Incentive systems promote and encourage specific workers' actions or behavior. They are particularly used in businesses to motivate employees to adopt certain behaviors during a change transition by management.  Studies have shown that if correct incentive systems are correctly selected, implemented, and monitored, they can increase team performance by an average of 44 percent.  This improved performance makes incentive systems attractive to leaders who are implementing organizational changes.

4 0
3 years ago
A seller listed a home for $200,000 and agreed to pay a commission rate of 5%. The MLS stated that the commission would be share
earnstyle [38]

Answer:

The selling sales associate received $2,700

Explanation:

The final number was 180 thousand dollars. Then the MLS chared 5% of the total sale. Thus, 9 thousand dollars is the commission. Now, the commission was divided again and the sales associate received 50% of the listing office's commission. So those 9000 are divided in 2 and we get 4500 which then are divided and the selling sales associate receives the 60% of that amount or 2700 dollars.

4 0
3 years ago
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Answer:

WHY FAST?

Explanation:

5 0
3 years ago
A team that meets to solve a one time problem is called a
Finger [1]
<span>A team that meets to solve a one time problem is called a special purpose team. when there is a unusual problem or an emergency problem that can't be solved by a responsible person a team will be formed to solve. it is temporary and dissolved once the problem is solved.</span>
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