The monthly payment for this car loan is equal to: D. $505. 79.
<u>Given the following data:</u>
To calculate the monthly payment for this car loan:
Mathematically, the monthly payment on a loan is given by this formula:
<u>Where:</u>
- P is the principal or amount borrowed.
- M is the monthly payment.
- t is the number of years.
Substituting the given parameters into the formula, we have;
Monthly payment, M = $505.79
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Answer:
The correct answer is letter "C": Likely to fluctuate when sales change.
Explanation:
Interest Expense is the cost of borrowing money. Usually, interest is paid on a credit card for some form of debt through a bank loan, mortgage, credit line or outstanding balance. The amount charged is equal to the interest rate times the outstanding balance. Interest payments are reported on an income statement as non-operating expenses.
<em>Sales changes do not influence the interest expense.</em>
Answer:
$357 Unfavorable
Explanation:
Fixed manufacturing overhead volume variance identifies the amount by which actual production differs from budgeted production.
<em>Fixed manufacturing overhead volume variance = Actual Output at Budgeted rate - Budgeted Fixed Overheads</em>
= (5,230 × $5.10) - ($5.10 × 5,300)
= $26,673 - $27,030
= $357 Unfavorable
It depends. How much is the government and treasury of the nation spending or has spent? This info is needed to determine the nation's public debt.
Answer:
The price control that could generate excess supply is to increase the price to 75 cents which would give the suppliers an incentive to supply since the potential profits have risen.
Explanation:
Market equilibrium can be defined as the point where market supply and market demand are equal,leading to stabilization of prices. The forces of supply and demand usually control the price at which goods and services will be set. Economists like Adam Smith utilized the concept of the free market to stipulate that the forces of supply and demand in a market will no government interference always push the market to it's equilibrium. Equilibrium generally means that the forces in the market have no incentive of changing their behavior.
Supply can be defined as the act of making something available to someone. In the context of an economy, the suppliers make goods and services available to the consumers. Demand on the other hand is the quantity of a good or service that consumers are willing purchase at a certain price. When demand exceeds the supply, the suppliers increase the price and when the supply exceeds the demand, the price drops.
In our case, increasing the price to 75 cents would give the suppliers an incentive to supply since the potential profits have risen. This would lead to excess supply since the price is set above the equilibrium price.
