1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
hjlf
3 years ago
13

How many months will it take to pay off a $470 debt, with monthly payments of $20 at the end of each month, if the annual intere

st rate is 15%, compounded monthly?
Business
1 answer:
amm18123 years ago
5 0

Answer:

28 month (approx)

Explanation:

Given

Present value = $470

Monthly Payment = $20

Interest Rate = 15% annual = 15% / 12 = 1.25% monthly

                                                             =0.0125

<h3>Present Value = PMT [\frac{1-(1+i)^{-n}}{i}] \\470 = 20 [\frac{1-(1+0.0125)^{-n}}{0.0125}]\\470/20 = [\frac{1-(1+0.0125)^{-n}}{0.0125}]\\23.5 \times 0.0125 =1-(1+0.0125)^{-n}\\1-0.29375= (1+0.0125)^{-n}\\0.70625 = (1+0.0125)^{-n}\\0.70625 =(1.0125)^{-n}\\0.70625= \frac{1}{(1.0125)^{n}}\\(1.0125)^{n}=1.4159292\\n=28(approx)</h3><h3 />
You might be interested in
The McMillan Development Corporation is in the preliminary stages of building a commercial office development. They have receive
solong [7]

Answer:

D. Both B and C

Explanation:

Based on the information provided within the question it can be said that you must go to The Building Codes  and Building Officials Conference of America. This is where every company must go in order receive the guidelines of the materials that are approved by the government for all development procedures including construction, electrical wiring etc.

4 0
3 years ago
When Tesla first launched their electric vehicles in the United States, they deviated from the norm in the automobile industry a
Damm [24]

Answer:

The choice of Tesla is known as Forward Integration.

According to the principles of Transaction Cost Economics, this is a good decision.

Explanation:

Companies sometimes take over the operations/businesses that deal with the distribution and supply of their products and or services. This move is known as forward integration.

Traditionally, companies focus on production then bring in middle-men such as Franchise owners, wholesales, dealers, and retailers to distribute their merhandise to the end user. Whilst there are associated benefits with this model, it's been found that the interests of the middle men also generate considerable costs.

In order to competitive advantage, companies are modifying their business models such that end users can deal directly with them thus reducing the final price of their goods and or services making them more accessible and easier to purchase for the consumers.

Transaction Cost Economics refers to the various ways in which an organisation can be set up in order to manage or control the costs associated with its transactions. The goal of transaction cost economics is to reduce overall costs in order to optimize profits, stay competitive and maintain growth by managing and modifying organisational structures and business models.

The most optimized organisational structure/business model is that which is able to attain the highest efficiency possible by operating at the lowest cost possible.

Good or Bad Decision

The market for motor vehicles is an oligopoly.

Therefore, price is an important factor to consider. As a more recent entrant into that space, this is very crucial for Tesla.

Tesla is not only entering into a market dominated by giants, but is also tryin to modify the way people know to drive cars (at least in most parts of the world). Therefore, it is a great move that it is going with a Price Penetration Strategy. Thus by cutting off the Franchise-Oriented dealerships and selling directly, Tesla is able to retain control over the price of it's vehicles.

The whole essence of reducing it's costs is so that it is able to make its products available to the consumers as an alternative to fossile fuel powered vehicles at the lowest cost possible. Despite it's best efforts, there are still petrol powered cars that are at least $10,000 cheaper that what Tesla is offering.

Besides price, one major factor that influences the choice to go with hybrid or 100% of electric cars is that they are clean and very environmental friendly.

Cheers!

5 0
3 years ago
Kingbird, Inc. has 10,600 shares of 9%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividend
Rina8888 [55]

If Kingbird wants to pay $420,000 of dividends in 2022. The amount of dividends that the common stockholders will receive is $133,800.

<h3>Dividends </h3>

Using this formula

Remainder allocation to common stockholders=[Total dividend – (Dividiend  in arrears + 2022 dividend)

Let plug in the formula

Remainder allocation to common stockholders=[$420,000 – (10,600×9%×100×2)+(10,600×9%×100)

Remainder allocation to common stockholders=[$420,000 – ($190,800+ $95,400)]

Remainder allocation to common stockholders=[$420,000 –$286,200]

Remainder allocation to common stockholders=$133,800

Therefore the amount of dividends will common stockholders receive is $133,800.

Learn more about dividends here:brainly.com/question/14076997

8 0
1 year ago
Given the following 2023 information for the Pinto Company: Increase in Wages Payable $ 400 Operating Expenses $5,000 Total Cash
Anna007 [38]

Answer: $1,800

Explanation:

Operating expenses comprise of only insurance and wages.

The total operating expenses were $5,000.

Out of that $5,000, $400 was for an increase in wages, $4,000 was paid off.

The rest is therefore for insurance.

= 5,000 - 400 - 4,000

= $600

If $600 is the insurance payment during the year then on 1/1/23, the balance was the current balance plus the payment;

= 1,200 + 600

= $1,800

3 0
3 years ago
A company's resources and capabilities represent:________.a. management's source of funding for new strategic initiatives. b. th
kobusy [5.1K]

Answer:

b. the firm's competitive assets that determine its competitiveness and ability to succeed in the marketplace

Explanation:

A Company must match it's available set of resources with it's capabilities. Resources should be optimally utilized and capabilities need to be harnessed in the best possible manner.

Efficient utilization of resources and capabilities yields competitive advantage to a firm. Competitive advantage refers to some unique way or process or capability, specifically available to an organization which gives it a competitive edge.

Resources and capabilities, thus represent a firm's competitive assets which determine how well it competes in the market and also casts a significant bearing upon it's ability to succeed.

7 0
2 years ago
Other questions:
  • Which of these have played the greatest role in the spread of information in the 21st century?
    5·2 answers
  • Elisa ran 34 miles more than Darryl last week. Elisa ran 49 miles. How many miles did Darryl run?
    15·2 answers
  • Brandon, a manager at fairpro technologies corp., is required to provide individual performance feedback to his subordinates. in
    5·1 answer
  • Explain partner by estoppel ...and please follow me ​???
    6·1 answer
  • The risk-free rate of interest, kRF, is 6 percent. The overall stock market has an expected return of 12 percent. Nutshell, Inc.
    6·1 answer
  • The printer ran out of preprinted sales invoice forms and several sales invoices were not printed. The best internal control to
    14·1 answer
  • HELP ASAP!! GIVING BRAINLIEST! NEED THE LAST ANSWER PLEASE
    5·1 answer
  • Many people moved to the Sunbelt to take new jobs in
    6·2 answers
  • What resources are required to have a successful business?
    6·2 answers
  • Temporary Aid to Needy Families (TANF) a. A welfare program that replaced AFDC in 1996. It introduced a new education requiremen
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!