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Serhud [2]
3 years ago
11

You purchase a new car for $33,333. What is the outstanding balance on the loan after you make the second payment if you have a

5-year loan with monthly payments and an interest rate of 7.84% (compounded monthly)? (Round your answer to the nearest integer)
Business
1 answer:
GenaCL600 [577]3 years ago
6 0

Answer:

$32,419

Explanation:

I prepared an amortization schedule using an excel spreadsheet. The monthly payment is $673.32:

year        beginning  scheduled  principal     interest ending

              balance             payment                                                 balance

1        $33,333         $673.32        $456     $218       $32,877 .45

2        $32,877         $673.32        $459     $215       $32,418.91

The outstanding balance after the second payment = $32,418.91 ≈ $32,419

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Stephani Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of May. Prior t
VashaNatasha [74]

Answer:

the manufacturing overhead for the month should be overapplied by $16,000

Explanation:

Given that

The debit to the manufacturing overhead is $53,000

And, the credit balance is $69,000

So, it should be overapplied by the

= $53,000 - $69,000

= $16,000

Therefore the manufacturing overhead for the month should be overapplied by $16,000

This is the answer but the same is not provided in the given options

7 0
3 years ago
Joe must pay liabilities of 2000 due one year from now and another 1000 due two years from now. He exactly matches his liabiliti
sweet [91]

Answer:

The value of X+Y=2,769

Explanation:

According to the given data we have the following:

x=present value of 2,000

=2,000/(1+0.06)=1,886.79

y=present value of 1,000

=1,000(1+0.07)∧2=873.44

x+y=1,886.79+873.44

=2,760.23

=2,769

The value of X+Y=2,769

3 0
3 years ago
Read 2 more answers
The market demand schedule or curve for a product shows the relationship between how much of the product buyers are willing and
Papessa [141]

Answer:

A. Product's price

Explanation:

In this question, we applied the law of demand which shows an inverse relationship between the price and the quantity demanded of a particular commodity. If the price increases, the quantity demanded decreased and if the price decreased, the quantity demanded increased.  

In the case of a market demand schedule, it takes the price and quantity demanded the overall market.  

In this schedule, X-axis shows the quantity demanded of the product and Y-axis shows the price of the product.  

According to the given scenario, the most appropriate option is a. product price as the market demand schedule shows that price and quantity demanded are inversely related to each other.  

In buyer income, it considers the income of the buyer to purchase the product And option C is related to the producer point of view plus time period are also the not correct option

3 0
4 years ago
Retail Operations, Inc., a U.S. firm, obtains a judgment in a U.S. court against Shinobu, Ltd., a Japanese business. Whether the
Kobotan [32]

Answer:

The correct answer is A

Explanation:

The principle of comity is the principle which is legal, that the political entities like courts, states or nations from different jurisdictions and it will mutually recognize or acknowledge the legislative of each other's executive and judicial acts.

So, Retail operations, US firm attain the judgement against Shinobu. Therefore, the court judgement will be enforced by Japan court will ground on the application of principle of comity.

7 0
3 years ago
Corrington Manufacturing Company prepared a fixed budget of 80,000 direct labor hours, with estimated overhead costs of $400,000
Reptile [31]

Answer:

Total Overhead Cost  is  $ 510,000  for 78,000 direct labor hours

Explanation:

Corrington Manufacturing Company

Fixed Budget  80,000 direct labor hours

Variable Overhead  $400,000

Fixed  Overhead $120,000

Flexible Budget 78,000 direct labor hours

Variable Over head = $ 400,000/ 80,000 * 78,000= $ 390,000

Fixed  Overhead $120,000

Total Overhead Cost  is <u> $ 510,000 </u>  for 78,000 direct labor hours

First we divide the variable overhead with the budgeted number of direct labor hours and then multiply it with the flexible labour hours to get the variable overhead at this activity level . The fixed overhead does not change.

8 0
3 years ago
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