If you like working with others and persuading them to see your point of view you have a ? personality

A commercial bank will loan you $7,500 for two years to buy a car. The loan must be repaid in 24 equal monthly payments. The ann

Rashid [163]

Answer:

$353.05

Explanation:

To calculate this, the loan amortization formula is employed as follwow:

P = {A × [r(1 + r)^n]} ÷ {[(1+r)^n]-1} .................................... (1)

Where,

P = Monthly required payment = ?

A = Loan amount = $7,500

r = monthly interest rate = (0.12 ÷ 12) = 0.01

n = number of payment period = 24 months

Substituting all the figures into equation (1), we have:

P = {7,500 × [0.01(1 + 0.01)^24]} ÷ {[(1 + 0.01)^24]-1} = $353.05

Therefore, the amount of monthly payments is $353.05.

5 0

3 years ago

d Corporation purchased a depreciable asset for $840300 on January 1, 2018. The estimated salvage value is $87000, and the estim

Dominik [7]

Answer:

$221,600

Explanation:

The computation of the depreciation expense for the year 2021 is as follows:

Depreciation expense is

= (Cost - Salvage value) ÷ Useful life

= ($840,300 - $87,000) ÷ 9

= $83,700 per year

Now the book value would be

= $840,300 - ($83,700 × 3 years)

= $589,200

And, finally the revised depreciation is

= ($589,200 - $146,000) ÷ 2

= $221,600

We simply applied the above formula so that the correct value could come

And, the same is to be considered

6 0

2 years ago

During Year 1, Hardy Merchandising Company purchased $20,000 of inventory on account. Hardy sold inventory on account that cost

mel-nik [20]

Answer:

[b] = $ 2500

[c] = $ 7500

[d] = Gross margin = 22500 – 15000 = $ 7500

Net Income = 7500 – 4000 = $ 3500

[e] = $ 3500

Explanation:

Here the solution is given as follows,

3 0

2 years ago

If the price of good A falls, then when the consumer makes his new utility-maximizing choice _______. A. the quantity of the

skad [1K]

Answer: Option (B) is correct.

Explanation:

Correct option: The marginal utility from consuming good A will be lower than before.

This due to the law of diminishing marginal utility. When the price of good A falls as result consumer will buy more quantity of good A. But according to the law of diminishing marginal utility, as the consumers consumes more and more quantity of good, the utility derived from an additional unit goes on diminishing.

Therefore, the marginal utility from consuming good A will be lower than before.

4 0

3 years ago

Pablo Company has budgeted production for next year as follows: Quarter First Second Third FourthProduction in units 59,000 99,0

AVprozaik [17]

Answer:

Purchases= 408,000 pounds

Explanation:

Giving the following information:

Production:

2nd Q= 99,000 units

3rd= 109,000 units

Four pounds of material A are required for each unit produced.

Desired ending inventory= 30% of the next quarter's production

<u>To calculate the purchases for the second quarter, we need to use the following formula:</u>

Purchases= production + desired ending inventory - beginning inventory

Purchases= (99,000*4) + (109,000*4)*0.3 - (99,000*4)*0.3

Purchases= 396,000 + 130,800 - 118,800

Purchases= 408,000 pounds

6 0

2 years ago