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djyliett [7]
3 years ago
8

David Nason purchased a recreational vehicle for $25,000. David went to City Bank to finance the purchase. The bank required tha

t David make a 10% down payment and monthly payments of $571.50 for 4 years. Find (a) the amount financed, (b) the finance charge, and (c) the deferred payment that David paid.
Business
1 answer:
Degger [83]3 years ago
5 0

Answer:

a) $22,500

b) $  4,932

c) david deferred the 22,500 dollars of the car in four years

Explanation:

a) ammount financed: principal less down payment

25,000 less 10% down payment:

25,000 - 2,500 = 22,500 amount financed

b) finance charge would be the interest paid by David

which is the difference between the amount financed and the total payment made by david

571.50 monthly payment x 12 month per year x 4 years = 27,432

27,432 - 22,500 = 4,932

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3) What are the main factors behind economic growth? Write a short essay. Be expansive. Take a broad view of this question. What
viva [34]

Explanation:

  • It is a level of goods and services provided by the country in a specific period
  • Certain factors associated with the economic growth are

1. Natural resources: Every country must protect their land forms so that the natural resources like oil or mineral can be obtained adequately and thus it can boost the economy of the country

2. Infrastructure: Creating an successful infrastructure make goods and services faster and thus increasing the economic growth.

3. Higher population: There are both advantages and disadvantages. We have high man power and on the other side there might be huge unemployment too.

Culture is closely associated with the branch of economy because it can turn the country upside down. Because, it is the culture which decides the like and unlike of a particular product.

8 0
3 years ago
gThe following data are available for Martin Solutions, Inc. Year 2 Year 1 Sales $1,139,600 $1,192,320 Beginning inventory 80,00
Vaselesa [24]

Answer and Explanation:

The computation is shown below;

For Year 1

Average inventory = (Beginning inventory + Ending inventory)÷ 2

= ($64,000 + $80,000) ÷ 2

= $72,000

Inventory turnover = Cost of goods sold  ÷ Average inventory

= $606,000 ÷ 72,000

= 8.4 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 8.4

= 43.5 days

For Year 2

Average inventory = (Beginning inventory + Ending inventory) ÷ 2

= ($80,000 + $72,000) ÷ 2

= $76,000

Inventory turnover = Cost of goods sold ÷ Average inventory

= $500,800 ÷ 76,000

= 6.6 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 6.6

= 55.3 days

3 0
3 years ago
The conceptual framework that the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (
Leokris [45]

Answer:

D) Uniformity

Explanation:

The purpose of the conceptual framework is to assist the International Accounting Standards Boards and account preparers in having a better understanding of the International Financial Reporting Accounting Standards, knowing the right accounting policy to take where there is no clear standard, as well as developing and revising standards.

Issues meant to be addressed by this framework include recognition and derecognition, measurement, qualitative characteristics of important financial information, the objective of financial reporting, financial statements and the reporting entity, understanding of capital and capital maintenance as well as presentation and closure.

7 0
3 years ago
the value of the marginal product of any input is equal to the marginal product of that input multiplied by the:_____.
charle [14.2K]

The value of the marginal product of any input is equal to the marginal product of that input multiplied by the: <u>market price</u>  of the output.

<h3>How to find the marginal product?</h3>

The marginal product can be defined as the change that occur due to the  addition of an output to  a unit of  input .

The value of marginal product can be calculated by making use of this formula

Value of Marginal Product = Marginal physical product × Average revenue price of the product.

Therefore the statement that complete the statement is market price  of the output.

Learn more about marginal product here:brainly.com/question/14867207

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6 0
1 year ago
Indicate whether it would appear on the statement of cash flows as a(n): operating activity, investing activity, or financing ac
Naily [24]

Answer:

a. Cash receipts from customers.

Statement of cash flows: Operating activity

b. Issuance of common stock for cash

Statement of cash flows: Financing activity

c. Payment of cash dividends

Statement of cash flows: Financing activity

d. Cash purchase of equipment

Statement of cash flows: Investing Activities

e. Cash payments to suppliers

Statement of cash flows: Operating activities

f. Sale of old machine for cash

Statement of cash flows: Investing Activities

4 0
2 years ago
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