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
Rasek [7]
3 years ago
5

You borrow $12,600 to buy a car. The terms of the loan call for monthly payments for five years at an interest rate of 4.65 perc

ent, compounded monthly. What is the amount of each payment
Business
1 answer:
UkoKoshka [18]3 years ago
4 0

Answer:

$627

Explanation:

To find the answer, we use the present value of an annuity formula:

P = A[1-(1+i)^{-n} /i]

Where:

  • P = Present value of the investment
  • A = Value of the annuiry
  • i = interest rate
  • n = number of compounding periods

Now, we plug the amounts into the formula:

12,600 = A[1-(1+0.0465)^{-60} /0.0465\\]

12,600 = A (20.09870355)

A = 12,600/20.09870355

A = 627

Thus, the value of the monthly payments is $627

You might be interested in
Please help need this done for class tomorrow!
Ivanshal [37]

Answer:

0.31

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income

Income elasticity of demand = percentage change in quantity demanded / percentage change in income

Percentage change in income = \frac{1000-300}{300} = 2.3

when income was $300, ramen was demanded twice, that is 2/7 times a week. converting to fraction gives 0.29

Percentage change in quantity = \frac{0.5 - 0.29}{0.29} = 0.72

0.72/2.3 = 0.31

7 0
2 years ago
Patrick has an adjusted gross income of $160,000 in the current year. He donated $30,000 in cash to a public charity, capital ga
Alexeev081 [22]

An$8,000

swer:

Explanation:

Non-cash contributions of capital gain property are subject to limit of 30% of AGI = 30% * 160000 = $48,000

$40,000 in property to public charity is allowable deduction (Contribution to private non-operating foundation is further subject to a 30% limit)

Hence, allowable deduction of contribution to private non-operating foundation = 30% * AGI (Contribution subject to 30% limit) = $48,000 - $40,000 = $8,000

5 0
2 years ago
Why is it important to understand business and economics?
artcher [175]
Because in the future you will need to learn that especially if you want to have your own business
7 0
2 years ago
Describe two types of drugs and the negative impact the abuse of these drugs can have on a person’s health
lozanna [386]
Cigarettes, it ruins your teeth, skin, hair, and plenty others.
steroids, it stunts your growth.
4 0
3 years ago
Read 2 more answers
Univisión’s market appeal is most specifically aimed toward the ________________ market.
mezya [45]
Univision's market appeal is most specifically aimed toward the HISPANIC market.

Hispanic or Latino according to the U.S. Census Bureau is an individual who is of Cuban, Mexican, Puerto Rican, South or Central American, or any Spanish origin or culture".
7 0
3 years ago
Read 2 more answers
Other questions:
  • Beyonce, taylor swift, and miley cyrus make commercials that encourage people to drink milk. these ads contain _____ . trade-off
    7·2 answers
  • A company has a process that results in 36000 pounds of Product A that can be sold for $8 per pound. An alternative would be to
    5·1 answer
  • How often do regulatory agencies track banks fiscal conditions? (Select all that apply.)
    14·2 answers
  • Green Cleaning purchased $500 of office supplies on credit. The company’s policy is to initially record prepaid and unearned ite
    10·1 answer
  • Apex Fitness Club uses straight-line depreciation for a machine costing $23,860, with an estimated four-year life and a $2,400 s
    10·1 answer
  • Jacqueline, a brilliant new ph.d. in economics, has turned down many job offers because she hopes eventually to teach at one of
    8·1 answer
  • 7,500.00 is invested at an APR of 4.9% compounded semi annually (twice per year). Write a numerical expression that would comput
    5·1 answer
  • pAn office building owner agrees to buy a minimum of 270 chairs and up to 440 chairs from a supplier. The price will be $85 per
    13·1 answer
  • Freedom Inc. has 40 employees within Denver City and County. All of the employees worked a predominant number of hours within th
    7·1 answer
  • Ezra runs a gyro stall at the local farmers' market. He would like to expand and open his own shop downtown. He has made the cha
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!