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
ELEN [110]
3 years ago
14

Monthly Payments and Finance Charges. Kimberly Jensen of Storm Lake, Iowa, wants to buy some living room furniture for her new a

partment. A local store offered credit at an APR of 16 percent, with a maximum term of four years. The furniture she wishes to purchase costs $4,800, with no down payment required. Make the following calculations:
Business
1 answer:
Alenkinab [10]3 years ago
8 0

Jensen needs to pay 8691.07$ to clear off her debt at the end of 4 years

Explanation:

Step by step solution-

Details as given in the question-

Purchase cost of furniture- 4800$

Term of credit- 4 years

Annual percent rate charged- 16%

Condition- No down payment done at the beginning

Amount needed to be re-payed at the end of the credit term  

We know that

Amount= Principal*(1+rate/100) ^time (for compounded interest rate type)

Substituing the values of principal as purchase cost, rate and time

Amount= 4800*(116/100)⁴

Amount needed to be re-payed to ward off the credit = 8691.07$  

You might be interested in
Can someone please write a business article for me
11111nata11111 [884]

Answer:

u can use quillbot.com

Explanation:

it makes a few sentences into a lot giving a whole article on something off of a few sentences u write

7 0
3 years ago
Which of the following journal entries represents an increase in accounts payable correctly
PtichkaEL [24]

Answer:

C) Inventory xxx Accounts Payable xxx

Explanation:

Accounts payable is a liability, and a liability always has a credit balance, as the amount is due to them. The company needs to pay them back.

Accordingly the company buys inventory and the inventory is an asset and thus, the company will debit the inventory account.

Whenever any purchases are made, or any service is utilized on credit then the company creates an accounts payable as a liability as against it.

8 0
3 years ago
The "invisible hand" concept suggests that
Alisiya [41]
The answer is C hope it helps
5 0
3 years ago
Familiar routes to and from commonly visited areas create an individual's:
Artist 52 [7]
<span>Can create mental map of the chosen routes. By following certain routes on a daily basis, a person can mentally remember how to get to destination without having to do recalling that anyone would do when they haven't fully remember how to get there. There wouldn't be a need to use GPS or mapping app, if he or she can recall how to get there.</span>
5 0
3 years ago
Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent inco
frez [133]

Answer:

a) The effect the rental activity has on Adelene's AGI is $0.                          

b) The total rental income is less than the total expenses for the year, so the reportable rental income is $0.

Explanation:

a)

particulars                                      amount                  amount

rental income                                                                $5,000

property taxes                               $3,800

mortgage interest                          $7,500

utilities                                             $3,700

insurance                                         $2,500

repairs                                              $2,100

depreciation                                     $15,000

total deduction                                                    $34,600

AGI                                                                           $0

Therefore, The effect the rental activity has on Adelene's AGI is $0.                          

b)

particulars                                      amount

Real property taxes                       $3,800

mortgage interest                          $7,500

utilities                                             $3,700

insurance                                         $2,500

repairs                                              $2,100

depreciation                                     $15,000

total expenses                                  $34,600

Therefore, The total rental income is less than the total expenses for the year, so the reportable rental income is $0.

7 0
3 years ago
Other questions:
  • Rosy's Sweet Treats is a small-scale restaurant that gets its supplies from Widget Suppliers that takes legal possession of the
    9·1 answer
  • Unemployment compensation is rev: 06_13_2018 Multiple Choice an automatic stabilizer because it rises as income increases, slowi
    9·1 answer
  • If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, pho
    14·1 answer
  • A flexible budget for 15,000 hours revealed variable manufacturing overhead of $90,000 and fixed manufacturing overhead of $120,
    13·1 answer
  • In which case do investors buy stock in expectation of higher profits
    12·2 answers
  • Laner Company has the following data for the production and sale of 2,000 units. Sales price per unit $800 per unit Fixed costs:
    8·1 answer
  • A monopoly exists when _____ provides a good or service.
    5·1 answer
  • Samantha works as a marketing manager for a cosmetics manufacturer. She plans to suggest a specific type of business model that
    9·2 answers
  • The longevity philosophy of compensation monetarily rewards employees for their loyalty to the firm. Group of answer choices Tru
    10·1 answer
  • ​a network of manufacturers and service providers that work together to convert and move goods from the raw materials stage thro
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!