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
lys-0071 [83]
3 years ago
13

You want to buy a car, and a bank will lend you $15000. The loan will be fully amortized over 5 years(60 months), and the nomina

l interest rate will be 12% with interest paid monthly.
a) What will be the monthly loan payment?
b) What will be the loan’s EAR?
Business
1 answer:
inysia [295]3 years ago
6 0

Answer:

a) $ 333.67

b) 12.6825

Explanation:

a) The 333.67 amount is the payment per month without interest and of course interest will differ from month to month as the loan is amortized monthly. to get the payment using financial calculator its N= 60,  I/YR = 12%/12=0.01, 15000=PV, FV=O THEN COMPUTE PMT

OR use the formula pmt= PV/1-1/(1+rate)^time/rate

b) To get EAR = (1+ rate/ compounding)^compounding-1

(1+0.12/12)^12-1

You might be interested in
Three years ago, Vincent Chow completed his degree in accounting. The economy was in a depressed state at the time, and Vincent
m_a_m_a [10]

Answer:

Prerequisite 1  

There are three nonexclusive serious techniques:  

Cost Leadership - target showcase exceptionally broad, point is to have the most minimal cost. Items not specific, attempt to speak to shoppers because of their low costs.  

Separation - items or administrations gave elite highlights that clients need, commonly an increasingly devoted specialty. Ready to charge more significant expenses because of these additional highlights.  

Center Strategy - either a cost authority or a separation methodology, yet focused for a tight, engaged market.  

Vincent's business utilizes a Focus Strategy. The Cappuccino Express was made with the conviction that because of individuals' evolving schedules, comfort would be vital – giving speedy and advantageous espresso to occupied individuals.  

Prerequisite 2  

Basic Success Factors are the vital money related and non-monetary proportions of achievement. To be increasingly explicit Critical Success Factors are features of the association's exhibition that are essential to its upper hand.  

The Cappuccino Express Critical Success Factors :  

Quality and cost of existing items  

Areas specific..near Malls , schools , workplaces and so forth.  

Devise new items at customary interims  

Client Turnover – capacity to keep lines short, vehicles traveling through line  

Keeping Loyal clients with quality items along these lines diminishing ad costs  

Giving incredible client support  

Improving Profitability  

The greater part of these Vincent will have the option to show some power about whether it is adjusting costs, items, guiding various areas or making preparing programs. Then again, if Vincent's essential supposition never again remains constant, regardless of what he does he will most likely be unable to equal the initial investment, not to mention turn a benefit.  

Prerequisite 2  

Vincent needs to leave on numerous assignments in dealing with The Cappuccino Express. To start with, Vincent must blueprint a statement of purpose, objectives, and destinations. As supervisor, Vincent must do statistical surveying. He should get some answers concerning his rivals, clients, and the economy. Additionally, he should utilize a workforce and train them. He should isolate the expenses into assembling costs (direct materials, direct work, and assembling overhead) and non producing costs (selling and managerial expenses). This will take into account monetary observing and precise gauges of benefits, stock, and expenses. Vincent ought to assess both of his areas and conclude whether to remain in business or grow. Additionally, Vincent ought to evaluate his item contributions, administrations, and quality. He can choose which sorts of publicizing (advancements and limits) to offer.

8 0
3 years ago
The Human Services career path is where "public servants" of the world work.
Anton [14]

Answer:

false

Explanation:

5 0
2 years ago
A project has an initial cost of $18,400 and is expected to produce cash inflows of $7,200, $8,900, and $7,500 over the next thr
garri49 [273]

Answer: 2.91 years

Explanation:

The discounted payback period calculates how long it takes for the cummulative discounted cash flow to equal the amount invested.

Please check the attached image for the table explaining how the answer was gotten.

7 0
3 years ago
Tim, who works for Peachtree Realty, referred a buyer to a broker who works for Pinetop Realty. The referring agent is to receiv
IrinaK [193]

Answer:

$1,312.50

Explanation:

Calculation for How much was the referring agent paid

First step is to find the buyer agent amount by using the buyer's agent percentage to multiply the buyer purchased amount of the home

Using this formula

Buyer agent amount =Buyer's agent percentage× Home purchased amount

Let plug in the formula

Buyer agent amount=1.5%×$350,000

Buyer agent amount=$5,250

The last step is to find How much was the referring agent paid

Using this formula

Amount referring agent paid =Buyer agent amount× Percentage of buyer side commission

Let plug in the formula

Amount referring agent paid=$5,250×25%

Amount referring agent paid=$1,312.50

Therefore the amount that the referring agent paid will be $1,312.50

5 0
2 years ago
Bank Reconciliation
Karo-lina-s [1.5K]

Answer:

Cash balance according to the bank $23,557.98

+ deposits in transit $12,125.25

- outstanding check N⁰ 124 ($62)

- outstanding check N⁰ 125 ($42)

- outstanding check N⁰ 129 ($1,250)

adjusted bank balance = $34,329.23

Cash account balance $51,596.88

+ note collected by bank $15,250.75

- NSF check ($23,475.40)

- Bank fees ($250)

- Error in recording check N⁰ 125 ($9,000)

adjusted cash account balance = $34,122.23

two errors were detected:

  1. outstanding check N⁰ 125 correct amount is ($24)
  2. bank fees are $25

so the readjusted balances are:

adjusted bank balance = $34,329.23 + ($42 - $24) = $34,347.23

adjusted cash account balance = $34,122.23 + ($250 - $25) = $34,347.23

now both accounts are equal.

5 0
3 years ago
Other questions:
  • The amount of a product that people are willing and able to purchase at a specific price is referred to as the:
    15·1 answer
  • Idaho Industries Inc. is considering a project that has an initial aftertax outlay or aftertax cost of​ $450,000. The respective
    14·1 answer
  • When a team consists of members who come from different functional areas, with different areas of expertise, different informati
    6·1 answer
  • Is a production process that generates customized products in high volumes?
    14·1 answer
  • If, for a given percentage increase in price, quantity demanded falls by a proportionally smaller percentage, the demand is
    9·1 answer
  • Skysong Industries acquired two copyrights during 2020. One copyright related to a textbook that was developed internally at a c
    12·1 answer
  • A newspaper story discussing high profits and low unemployment indicates a strong economy
    15·1 answer
  • When an account payable is paid off in full, an entry is journalized that credits
    8·2 answers
  • Which of the following strategies will help companies succeed during the growth stage of a product cycle? a. Focusing on develop
    7·1 answer
  • What is the main challenge that red frog events faces as the organization grows?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!