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3 years ago

12

You have arranged for a loan on your new car that will require the first payment today. the loan is for $32,000, and the monthly

payments are $620.
required: if the loan will be paid off over the next 60 months, what is the apr of the loan?

1 answer:

enot [183]3 years ago

7 0

65.643 is the answer of the interest rate

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Bob, age 17, has entered into a contract to buy a car. The contract is: a. voidable. b. void. c. voidable only if Bob can return

AysviL [449]

Answer:

The correct answer is letter "A": voidable.

Explanation:

Voidable contracts are those that cannot be enforced because one or the two parties involved are not legally eligible to go on in such an agreement. Reasons to void a contract include but are not limited to failure to disclose material facts, legal incapacity to enter a contract or inconsistent contractual terms.

Thus, <em>Bob's contract to purchase a car is voidable since he is legally incapable of signing agreements due to his age (17 years old).</em>

4 0

3 years ago

Billabong Tech uses the internal rate of return (IRR) to select projects. Calculate the IRR for each of the following projects

Umnica [9.8K]

Answer:

Project t shirt IRR = 33.69%

Project board short IRR = 37.39%

I would recommend project board short because its IRR is higher.

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

IRR can be calculated using a financial calculator:

For Project T-Shirt ,

Cash flow in year 0 = -$17,333

Cash flow each year from year one to four = $8,500

IRR = 33.69%

Project Board Shorts,

Cash flow in year 0 = -$27,667

Cash flow each year from year one to five = $13,000

IRR = 37.39%

Project Board Shorts would be chosen because its IRR is higher than that of the other project.

To find the IRR using a financial calacutor:

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 IRR button and then press the compute button.

I hope my answer helps you

8 0

3 years ago

Presented below is information related to equipment owned by Bramble Company at December 31, 2020. Cost $10,260,000 Accumulated

Neporo4naja [7]

Answer and Explanation:

The journal entry to record the impairment of the loss is shown below:

Loss on impairment Dr $3,670,800

To Accumulated depreciation - Equipment $3,670,800

(Being the loss on impairment is recorded)

For recording this we debited the loss on impairment as it increased the losses and credited the accumulated depreciation as it increased the balance of accumulated depreciation

Working note:

Cost $10,260,000

Less: Accumulated depreciation -$1,140,000

Carrying Amount $9,120,000

Less Fair value -$5,472,000

Plus: Cost of disposal $22,800

Loss on impairment $3,670,800

5 0

4 years ago

Karla is working in Microsoft Excel, and she needs to copy data from one spreadsheet into another. The cells she wants to copy c

Licemer1 [7]

Answer:

The main difference between paste and paste special is that the paste command allows the user to insert the selected data from the clipboard into an application while the paste special command follows the same functionality similar to paste, but provides additional options to select how the inserted data should appear

how to copy Here's how:

Select all the data in the worksheet. Keyboard shortcut: Press CTRL+Spacebar, on the keyboard, and then press Shift+Spacebar.

Copy all the data on the sheet by pressing CTRL+C.

Click the plus sign to add a new blank worksheet.

Click the first cell in the new sheet and press CTRL+V to paste the data.

4 0

2 years ago

Do the Math 3-3 Ratio Analyses Use the following balance sheet and cash flow statement information to answer the questions below

LUCKY_DIMON [66]

Answer:

Liquidity Ratio = 3.33

Asset to Debt ratio = 1.94

Debt to Income ratio = 95.57%

Debt Payments to disposable income = 36.76%

Investment assets to total assets = 23.51%

Explanation:

Liquidity Ratio = [ Liquid Assets ] ÷ [ Short Term Debt ]

= $14,000 ÷ $4,200

= 3.33

Asset to Debt ratio = [ Total Assets ] ÷ [ Total debt ]

= $319,000 ÷ $164,200

= 1.94

Debt to Income ratio = [ Total Debt ] ÷ [ (Gross Income + Disposable income -expenses) ]

= $164,000 ÷ [ ($13,000 + $6800 - $5500) × 12 ]

= 0.9557 or 0.9557 × 100% = 95.57%

Debt Payments to disposable income

= [ Long term debt payment + short term debt payment ] ÷ [ Disposable income ]

= [ $2,200 + $300 ] ÷ $6,800

= 0.3676 = 36.76%

Investment assets to total assets

= $75,000 ÷ $319,000

= 0.2351 = 23.51%

4 0

3 years ago