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storchak [24]
4 years ago
14

Colton took out a 3 year loan for $2075 at a computer store to be paid back with monthly payments at a 10.7% APR. If the loan of

fers no payments for the first 11 months, how many payments will Colton be required to make?
Business
2 answers:
GREYUIT [131]4 years ago
8 0

Answer:

the right APEX answer is 25

sashaice [31]4 years ago
4 0
Given:
3 year loan
$2,075 loan amount
10.7% Loan APR
*no payment for the first 11 months.

3 years is equivalent to 36 months. 
36 months - 11 months = 25 months.

Colton must make 25 monthly payments to pay off his loan. 

Usually, businesses can give this kind of promo because the interest in the months of no payments have already been added in the list price of the product. Thus, ensuring that the company will always profit from this promotion.
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Clicking the Format Painter once will allow you to apply the copied formatting repeatedly.
kicyunya [14]
The second answer is correct hope that helps
7 0
3 years ago
A new machine requires an investment of $630,000 and will generate $100,000 in cash inflows for 7 years, at which time the salva
Orlov [11]

Answer:

$-76,447.56

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow in Y0 = -630,000

Cash flow in Y1 - Y6 = 100,000

Cash flow in Y7 = 100,000 + 130,000

I = 10%

npv = $-76,447.56

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

4 0
3 years ago
The U.S. government funds the federal budget deficit by Group of answer choices borrowing from large private banks at favorable
otez555 [7]

The U.S. government funds the federal budget deficit by selling securities such as Treasury bonds and Treasury bills.

<h3>What is budget deficit?</h3>

Budget deficit is when the government expenditure is more that its revenue. Here, the expenses incurred are more that what comes in as income to the government.

Hence, the U.S. government funds the federal budget deficit by selling securities such as Treasury bonds and Treasury bills.

Learn more about budget deficit here: brainly.com/question/26010226

#SPJ12

4 0
2 years ago
Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land were $90,000 and
Anuta_ua [19.1K]

Answer:

c. $ 95,000 $ 0

Explanation:

<u>Calculation of cost of land acquired</u>

For the purpose of recording of land acquired in the books of accounts, the accounting values of consideration paid shall be considered as per the generally accepted accounting principles as well as as per International accounting standard (IAS) - 16 'Property, plant and equipment'. Hence the land shall be recorded as per the following amounts:

Consideration paid in cash (A) = $ 5,000

Consideration in kind (land) (B) = $ 90,000 (Refer Note 1)

Total cost of new land (A+B) = $ 95,000

<em>Note 1</em>

Fair value is irrelevant for the purpose of capitalization of asset (IAS-16)

<u>Calculation of Gain/loss on disposal of land</u>

No gain/loss needs to be recorded as the new asset shall be recorded in terms of the book value of old asset (i.e. net impact is already taken into account during the exchange transaction)

5 0
3 years ago
What Are the Differences Between Depository and Non-Depository Institutions? The financial services industry in the United State
Burka [1]

Answer:

1. Accept deposits;make loan;deposits.

2. Commercial banks, savings banks, savings and loan associations (thrifts), and credit unions.

Explanation:

Depository institutions are required to accept deposits and make loans although the general terms used to describe these financial products may vary across the various types of institutions. Non-depository institutions, in contrast, accept cash contributions from their customers, but the cash inflows are not called deposits instead, they're called shares or premiums.

Depository institutions include commercial banks, savings banks, savings and loan associations (thrifts), and credit unions.

Non-depository financial institutions include mortgage banks, pension funds, insurance companies, mutual fund, securities firms etc.

3 0
4 years ago
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