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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$  

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b. customer relationships

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Technician A says that after an accident you should take measures to avoid it in the future. Technician B
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Porches, Inc. sells lawn furniture. Selected financial information for the most recent year is as​ follows:Beginning merchandise
Hatshy [7]

Answer:

The operating income for the​ year is $97,000

Explanation:

For computing the operating income, first, we have to calculate the cost of goods sold. The formula to compute the cost of good sold is shown below:

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= $90,200

Now, the operating income would be

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= $97,000

6 0
4 years ago
Why are revenue tariffs levied?
belka [17]
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3 0
4 years ago
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The rate of return on total assets is computed by dividing _______
Sonbull [250]

Answer:

Dividing Net income by average total assets

Explanation:

The rate of return of total assets is a ratio used in measuring a company's revenue before deductibles when compared to its total net asset. It refers to the ratio between the net income and the average total assets of a given company at a particular point in time. This ratio is most times used to see how effectively an asset is being used in the production process.

Mathematically

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