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sineoko [7]
3 years ago
11

After visiting several automobile dealerships, Richard selects the car he wants. He likes its $11,500 price, but financing throu

gh the dealer is no bargain. He has $2,300 cash for a down payment, so he needs a loan of $9,200. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. That is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $9,200 for a period of two years at an add-on interest rate of 10 percent.
a. What is the total interest on Richard's loan?

b.What is the total cost of the car?

c. What is the monthly payment?

d. What is the annual percentage rate (APR)?
Business
1 answer:
WITCHER [35]3 years ago
5 0

Answer:

The answers are:

A) total interest = p x r x t

where:

  • p = $9,200
  • r = 10%
  • t = 2 years

total interest = $9,200 x 10% x 2 = $1,840

B) the total cost of the car = down payment + principal + total interest

total cost = $2,300 + $9,200 + $1,840 = $13,340

C) monthly payment = (principal + total interest) / total number of payments

monthly payment = ($9,200 + $1,840) / (12 x 2) = $11,040 / 24 = $460

D) APR = (total payments x total interest) / [principal x (total payments +1)]

APR = (24 x $1,840) / ($9,200 x 25) = 0.192 or 19.2%

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finlep [7]
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tamaranim1 [39]

Answer:

The entries to record the transactions are given below.

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c. Purchase musical equipment for $10,000 cash.

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7 0
2 years ago
After a firm has determined its position in the global market, it will typically seek to meet the needs of global markets by ___
elixir [45]

After a firm has determined its position in the global market, it will typically seek to meet the needs of global markets by tailoring its marketing mix to the needs of consumers in individual markets.

<h3>What is global market?</h3>

Global market involves planning, producing, placing, and promoting a business' products or services in the worldwide market.

It is not limited to specific geographic locations but rather involves the exchange of good, services, and labor anywhere.

Examples of global markets are :

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Hence, a firm will typically seek to meet the needs of global markets by tailoring its marketing mix to the needs of consumers in individual markets.

Learn more about global market here : brainly.com/question/20860719

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Anastaziya [24]

Answer: True

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Market segmentation can be done on various different basis like geography, age or gender etc.

Hence, from the above explanation we can conclude that the statement is true.

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3 years ago
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Free_Kalibri [48]

Answer: Option B

                                                                       

Explanation: In simple words, physiology refer to that branch of biology which studies the functions of some living organisms and the functioning of their body parts.

In the given case, Rudolf has been suffering from high blood pressure and is also stressed about the future.

Thus, from the above we can conclude that he is demonstrating physiological symptoms.

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