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
Viktor [21]
3 years ago
15

Matthew wants to take out a loan to buy a car. He calculates that he can make repayments of $ 3 comma 500 per year. If he can ge

t a five​-year loan with an interest rate of 7.9​%, what is the maximum price he can pay for the​ car?
Business
1 answer:
sammy [17]3 years ago
3 0

Answer: the maximum price (future amount) he could pay is

“$4,882.5“

Explanation:

The question above can be calculated using simple interest formula with amount ;

A = p + prt

A = p (1 + rt)

From above question, variables given are:

principal 'p' = $3,500

time 't' = 5years

interest rate = 7.9% = 0.079

A = p(1 + rt)

A= 3500[1 + 0.079(5)]

A = 3500 [ 1 + 0.395]

A = 3500 ( 1.395)

A = $4,882.5

Approximated to $4,883 as a whole figure.

This is the maximum amount he could pay after 5 years.

You might be interested in
The following monthly data pertains to the Amnesty Company: Sales commissions 8,000 Delivery truck depreciation $2,500 Direct la
Fed [463]

Answer: $46000

Explanation:

The manufacturing overhead for the month will be calculated as:

Indirect labour = $15000

Add: Indirect material = $4000

Add: Factory electricity gas = $8000

Add: Factory supervisor salary = $12000

Add: Depreciation on factory building = $7000

Therefore, the total manufacturing overheads would be gotten by adding the above values together whihc will be equal to $46000.

3 0
3 years ago
Which of the following methods improves the transition from one sentence to the next in a formal report?
IRINA_888 [86]

Answer:

The correct answer is letter "A": Using tabulations and enumerations.

Explanation:

There are several forms to improve the writing of a formal report. Using active voice, consistent sentences, and transitions in between sentences are some examples. When it comes to transitions they are useful to keep readers' interested. Implementing <em>tabulations and enumerations</em> at the beginning of a listing helps sentences to be linked one with another and provides the idea that after reading one sentence another is coming up.

7 0
3 years ago
What role should government play in a free market economy?
igor_vitrenko [27]
Economists, however, identify six major functions of governments in market economies. Governments provide the legal and social framework, maintain competition, provide public goods and services, redistribute income, correct for externalities, and stabilize the economy.
8 0
3 years ago
Read 2 more answers
A firm's dividends have grown over the last several years. 3 years ago the firm paid a dividend of $1. Yesterday it paid a divid
podryga [215]

Answer:

The average annual growth rate of dividends for this firm is 90.05%

Explanation:

In order to calculate the average annual growth rate of dividends for this firm we would to have to use the following formula:

A=P(1+r/100)^n

where

A=future value

P=present value

r=rate of interest

n=time period.

7=1*(1+r/100)^3

(7/1)^(1/3)=(1+r/100)

(1+r/100)=1.9005

r=(1.9005-1)*100

=90.05%(Approx).

The average annual growth rate of dividends for this firm is 90.05%

4 0
3 years ago
Subway is a large chain of franchise sandwich shops. Marcia owns three Subway stores in a large city. At the end of the year, sh
RideAnS [48]

Answer:

Th answer is: I would reward the managers of restaurants 1 and 2

Explanation:

In my opinion Marcia should reward the two managers from restaurants 1 and 2 based upon the percentage of sales increase. She could give an X$ bonus to the manager of restaurant 1 as a prize for increasing sales by two percent. Then she could also give the manager of restaurant 2 the same X$ bonus but also give him (or her) a 3% raise.

I wouldn´t take any type of actions regarding the manager of restaurant 3. I would be let him know that I was rewarding the other managers because they performed better than him. I believe that rewards are usually more beneficial than punishments. I also believe people are selfish and greedy, so when manager 3 realizes he lost the opportunity of earning a bonus and a raise due to his poor performance, he will be motivated to work better next year.    

4 0
3 years ago
Other questions:
  • What is the approximate maximum hardness value in rockwell units that steel can attain?
    12·1 answer
  • The following data are available relating to the performance of Seminole Fund and the market portfolio: Seminole Market Portfoli
    12·1 answer
  • Jose would like to create a soothing mood on his website. He creates some intense color schemes and adds some quiet background m
    8·2 answers
  • Inner strength if you can start the day without caffeine or pep pills, if you can be cheerful, ignoring aches and pains, if you
    11·1 answer
  • What show does raven Simone play on
    11·2 answers
  • What usually happens to stock prices when the global economy is strong?
    7·1 answer
  • QUESTION 11 Given the following information, calculate the equity dividend rate for this investment: first-year NOI: $18,750; be
    12·1 answer
  • A major weakness of planning budgets is that A. They are feared only to a single level of activity. B. They cannot be used to as
    5·1 answer
  • U Co. had cash purchases and payments on account during the current year totaling $455,000. U's beginning and ending accounts pa
    13·1 answer
  • What was the firm's end-of-year cash balance? Recreate the firm's cash flow statement to arrive at your answer. Write out your a
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!