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
The following labor standards have been established for a particular product:
andrey2020 [161]

Answer:

Results are below.

Explanation:

<u>To calculate the direct labor rate and efficiency variance, we need to use the following formulas:</u>

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (17.7 - 17.8)*7,600

Direct labor rate variance= $760 unfavorable

Actual rate= 135,280/7,600= $17.8

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (4*1,800 - 7,600)*17.7

Direct labor time (efficiency) variance= $7,080 unfavorable

4 0
2 years ago
What is 9 and 5/6 minus 3 and 3/6​
lawyer [7]

Answer:

9\frac{5}{6} - 3\frac{3}{6} = \frac{38}{6}

Explanation:

Since this is an example of mixed whole numbers and fractions, this are mixed fractions.

Since the denominator is the same (6), we are just going to create a proper fraction out of these mixed fractions by multiplying the denominator with the whole number and adding the numerator. Then, the result becomes the new numerator, while the denominator remains the same.

Therefore, we have:

9\frac{5}{6}  = \frac{59}{6}

3\frac{3}{6} = \frac{21}{6}

So when we subtract these two, we get \frac{38}{6}.

7 0
3 years ago
Read 2 more answers
a. Invest all $15,000 in the stock, buying 100 shares. b. Invest all $15,000 in 1,500 options (15 contracts). c. Buy 100 options
GREYUIT [131]

Answer:

See attached picture.

Explanation:

See attached picture for explanation.

3 0
3 years ago
The most helpful kind of business and why?
agasfer [191]

Answer:

Hair Salon

Explanation:

An hair salon is the most helpful kind of bussiness besides chothing store's because your helping people with their hair and geting a lot of money from doing a curtain style.

5 0
2 years ago
The best way to select a career is to research which one makes the most money. Please select the best answer from the choices pr
IgorC [24]

Answer:

FALSE

Explanation:

below are some important tips or guidelines that you should follow to choose the right career and be happy for the rest of your life.

<u><em>Know Your Strengths </em></u>

Every one of us has some strengths – and some weaknesses. The point is to find out what you are really good at. Are you good at telling stories? Do you find it easy to coach other writers? Do you love teaching students? There must be something that you feel passionate about and are good at doing. You need to find out what those skills and strengths are.

Create a list of skills that you have, and then pick the strongest skills from that list. Consult your friends or family for an outer perspective. If you play by your strengths, you’ll enjoy a great professional life.

<u><em>Discover Your Personality Type </em></u>

You might have heard about Myers-Briggs. It’s an introspective self-report questionnaire which helps you find out what type of personality you have. Different persons have different types of personalities; someone could be an introvert and someone else could be an extrovert. By knowing your personality type, you’ll be able to find out what type of work environment will suit you best.

<u><em>Take a Career Test </em></u>

If you are confused deciding which career is right for you, you can also go for a career test. Typically, a career test presents you with a set of questions which you need to answer in the given time-frame. A career test is aimed at assessing your skills and strengths and then suggest a career that is a good match. Once you have finished answering all the questions, you’ll be provided with 2-3 career options that suit you best and promise a satisfying life.

On the internet, you’ll find a number of career tests that you can complete within a few minutes. Many of them are free.

<u><em>Seek Advice from Others </em></u>

No matter where you live, you’ll always have people who are already employed, expert in a particular field or have more professional experience. Feel free to get in touch with these people and talk about your aspirations. Gather information about different occupations and industries. Ask them for advice that you can use for choosing a career that’s best for you.

<u><em>Work as an Intern </em></u>

Internships provide you with an excellent opportunity to lay the foundation of your career. The experience of actually working in the real world is something that you should never ignore. Working as an intern helps you find out how being in a particular job feels like, whether the work environment is up to your taste and how you get along with people in the workplace.

Internships are also highly recommended for building connections with professionals and gaining work experience that can add extra weight to a resume. An internship can be either paid or unpaid.

5 0
3 years ago
Read 2 more answers
Other questions:
  • A retail outlet has received complaints from customers that checking prices, finding out about stock, and checking out takes too
    13·2 answers
  • Why do companies commonly place new hires on probation?
    12·2 answers
  • If you spend 8.50 for lunch on Monday 3.95 on Tuesday and 11.15 on Friday how much have you spent for lunch this week
    15·2 answers
  • ___ is the ability of each organization's information system to work with the other, sharing both data and services.
    9·1 answer
  • Which description is correct about a tool used by organizations to verify whether or not a staff member has been involved in mal
    11·1 answer
  • Economics is the social science concerned with the efficient use of scarce resources to achieve the maximum satisfaction of econ
    7·1 answer
  • how are all of your days so far i need someone to talk to btw i have a strict mom so if i dont answer stay there cuz she does no
    6·2 answers
  • Delicious Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $1,500 M
    5·1 answer
  • Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): othe
    7·1 answer
  • Does a competitive firm’s price equal its marginal cost in the short run, in the long run, or both? explain.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!