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
elena55 [62]
3 years ago
6

Jesse is thinking about buying an entertainment system that will cost $1,800. The store will finance the purchase for 12 months

at 20 percent interest. His payments will be $166.74. How much will he pay in interest over the life of the loan?
Business
1 answer:
Len [333]3 years ago
5 0

Answer:

Explanation:

First, find the future value of the annuity payments. You can solve this using a Financial calculator. I'm using TI BA II Plus calc.

N= 12

I/Y = 20% /12 = 1.667% ,monthly rate in this case

PMT=166.74

PV =0

then CPT FV = 2,194.876

To calculate the interest paid over the life of the loan, subtract the amount borrowed from this FV amount;

=2,194.876 - 1,800

Interest = $394.876

You might be interested in
How much money was spent on black friday this year?
Tatiana [17]

Answer:

a lot of money was spent this year

5 0
2 years ago
The management of Ballard MicroBrew is considering the purchase of an automated bottling machine for $120,000. The machine would
almond37 [142]

Answer:

7.5%

Explanation:

Cost savings :

= Equipment cost - New machine cost

= 30,000 - 12,000

= 18,000

Depreciation per year :

= Cost of automated bottling machine ÷ Useful years

= 120,000 ÷ 10

= 12,000

Simple rate of return:

= (Cost savings - Depreciation of new equipment) ÷ (cost - salvage of old)  

= (18,000 - 12,000) ÷ (120,000 - 40,000)

= 6,000 ÷ 80,000

= 0.075

= 7.5%

7 0
3 years ago
Murphy Company sublet a portion of its warehouse for five years at an annual rental of $24,000, beginning on May 1, 2010. The te
jeka57 [31]

Answer:

Correct option is D.

Unearned Rent Revenue Dr. $16,000

Rent Revenue  $16,000

Explanation:

Provided that rent is received for a period of 1 year that is 12 months on May 1, 2010 amounting $24,000

Thus rent per month = $24,000/12 = $2,000 per month

Provided financial year = Calendar year

thus for the year 2010 rent revenue = 1 May to 31 December = $2,000 \times 8 = $16,000

Since revenue = $16,000 for the year and initially was recorded as unearned rent thus for the year $16,000 should be transferred to rent revenue.

For this entry shall be:

Unearned Rent Revenue Dr.           $16,000

         To Rent Revenue                   $16,000

Correct option is D.

7 0
4 years ago
Targeting Business Customers A soap company has been selling their soap to consumers with great success. However, recently they
vampirchik [111]

Answer: Females, Housewives bb

Explanation:

The soap can be used as dish wash bar for cutting heavy grease from utensils. Thus the soap company would target females, housewifes. This is because the soap can be used in washing of their utensils. the company could also target manufacturing plants, restaurants, warehouses, hospital and pharmaceutical industries and resort. In these sectors regular hand soap is because in this sectors hand soap are needed. The soap can be sold through retail stores so everyone can have access it easily.

6 0
4 years ago
Considering the needs of a global audience is essential to success in the hospitality and tourism industry?
ozzi

Answer:

True

Explanation:

In simple words, the hospitality and tourism industry refers to the activities related to accommodation, restaurant and tourism etc. In such industries the main focus of the companies is the comfort and joy of their clients. This becomes difficult to implement as every individual have different needs and circumstances. Thus, the planning of activities should be made in such a way that it suited the global audience.

8 0
3 years ago
Other questions:
  • A company's beginning inventory is $2,000 and its ending inventory is $1,000. The inventory turnover is 6 times. Cost of goods s
    5·1 answer
  • Product U23N has been considered a drag on profits at Jinkerson Corporation for some time and management is considering disconti
    7·1 answer
  • The year-end adjusted trial balance of Hilltoppers Corporation included the following account balances: Cash, $3,600; Equipment,
    8·1 answer
  • If a currency such as the​ US$ is traded in a competitive​ market, a(n)​ ________ in demand for the​ US$ ________ the price of t
    13·1 answer
  • Chief among the factors playing a part in determining an organization's structure are _______.
    8·1 answer
  • United States exports soybean oil to China. However, to protect the Chinese soybean oil market, Chinese government has high tari
    13·1 answer
  • What organization or program interests you the most?
    7·2 answers
  • Contribution Margin and Contribution Margin Ratio
    11·1 answer
  • Whether to pay a lawmaker for giving a speech at your company is an ethical
    15·1 answer
  • Miguel is NOT very self-aware. How will this MOST likely affect his upcoming job search process?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!