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Nutka1998 [239]
3 years ago
15

Adventure Travel signed a​ 14%, 10-year note for​ $152,000. The company paid an installment of​ $2,200 for the first month. Afte

r the first​ payment, what is the principal​ balance? (Do not round any intermediate​ calculations, and round your final answer to the nearest​ dollar.)
Business
1 answer:
Likurg_2 [28]3 years ago
5 0

Answer:

The principal​ balance is $151,573

Explanation:

For computing the principal balance, we need the following calculation which is shown below:

1. First we have to compute the 1 month interest payment which equals to

= Note amount × rate × 1 month ÷ total months in a year

= $152,000 × 14% × 1 ÷ 12

= 1773.33

2. Now deduct the first month interest  from installment amount which equals to

= Installment amount - Interest amount

= $2,200 - $1773.33

= $426.67

3. Now subtract step 2 amount from notes amount which equals to

= Notes amount - principal amount

= $152,000 - $426.67

= $151,573.33

Hence, the principal​ balance is $151,573

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A set of speakers may be purchased now for $1000 or by making a down payment of $150 and additional payments of $100 at the end
victus00 [196]

Answer:

the nominal annual interest rate on the payment plan is 15%

Explanation:

According to the question, a one-time payment for the speakers will cost $1,000

An installmental payment will have a $150 down payment and then another $100 fro ten subsequent months.

Calculating the total payment at tthe end of the payment plan will give

$150 + ($100 x 10months)

we have, $150 + $1,000 = $1,150.

This shows that at the end of the payment plan, the set of speakers would have cost $1,150 instead of $1,00 one-time payment.

Step 2:

To calculate the interest rate, we subtract the one-time price from the payment plan price and express it as a percentage of the one time price to get tthe interest rate.

$1,150-$1,000 = $150

then we have,

($150 ÷ $1,000) × 100%

= 0.15 × 100%

- 15%

The nominal annual interest rate is 15%.

Cheers.

4 0
3 years ago
Using the following information, prepare a vertical analysis of two years' income statements. Fees Earned is $153,500 for Year 2
ValentinkaMS [17]

Answer:

(B) Operating income has increased as a percentage of revenue

Explanation:

Conducting a vertical analysis,

Operating income (year 1) = Fees earned, less operating expenses

= 149,700 - 127,245 = $22,455

Therefore operating income as a percentage of revenue = 22,455/149,700 = 15%.

Operating income (year 2) = 153,500 - 122,800 = $30,700

Therefore operating income as a percentage of revenue = 30,700/153,500 = 20%.

Therefore, operating income as a percentage of revenue increased from year 1 to year 2.

7 0
3 years ago
Developing an awareness of your perceptions is an important part of ______________.
Ede4ka [16]
Developing an awareness of your perceptions is an important part of <span>building perceptual accuracy.

>Perceptual accuracy is c</span><span>hecking the accuracy of your perception involves separating interpretation from.
></span>Enculturation sometimes termed as acculturation is the process by which people learn the needs of their surrounding culture<span> and earn values and behaviors . I hope this helps!!

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3 0
2 years ago
A firm that uses ___________ segmentation divides a market into groups based on life stage, race, or profession.
Triss [41]

Answer:

Demographic

Explanation:

Demographic segmentation is often used in marketing to group customers according to demographic factors. The demographic factors include- age, gender, occupation, race, religion and income.

Other forms of segmentation includes :

1. Behavioural segmentation

2. Geographic segmentation

3. Psychographic segmentation

I hope my answer helps you

7 0
3 years ago
Mike Samson is a college football coach making a base salary of $632,400 a year ($52,700 per month). Employers are required to w
lakkis [162]

Answer:

Part 1:

Total amount withheld for Social Security and medicare=$16264.2

Amount withheld for Social Security=$7049.4

Part 2:

Additional amount which the employer will contribute=$16264.2

Explanation:

Part 1:

Amount withheld for Social Security= $113700 * 6.2%=$113700 * 6.2/100

Amount withheld for Social Security=$7049.4

Amount withheld for Medicare=$632400 * 1.45%=$632400 * 1.45/100

Amount withheld for Medicare=$9169.8

Total amount withheld for Social Security and medicare=$7049.4+$9169.8

Total amount withheld for Social Security and medicare=$16264.2

Part 2:

The additional amount which the employer will contribute towards the FICA taxes is same as withheld by Coach Samson.

Additional amount which the employer will contribute=$7049.4+$9169.8

Additional amount which the employer will contribute=$16264.2

4 0
3 years ago
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