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lys-0071 [83]
2 years ago
14

David is buying a new car for $21,349.00. He plans to make a down payment of $3,000.00. If he's to

Business
1 answer:
marshall27 [118]2 years ago
8 0

Answer: (D) 5.90%

Explanation: David is going to buy a new car at $21,349.

The down payment is $3,000.

Loan amount (Present value) = $21,349 - $3,000

Loan amount (Present Value) = $18,349

Installment amount (pmt) = $352

As the payment is made monthly (12 months in a year),

Number of payments = 5 * 12

Number of payments = 60

Using the rate option in excel,

=rate(nper,pmt,-pv,fv,type)

Insert the variables into the option, we get

=rate(60,352,-18349)

By inserting the above formula in excel we get,

Rate = 0.47%

Rate of 0.47% is monthly, to get APR

APR = (1+monthly rate)^12 - 1

APR = (1+0.0047)^12 - 1

APR = (1.0047)^12 -1

APR = 1.0586 - 1

APR = 0.0586

APR = 5.86% or 5.90%

Therefore the correct option is 5.90%.



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Explanation:

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Sky Communications (SKY) usually sells a cell phone for $448 plus 12 months of cellular service for $672. SKY has a special, tim
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Explanation:

The Journal Entry from July 1 and July 31 is shown below:-

1. Cash Dr,                                             $560

            To Deferred revenue                                  $560

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2. Deferred revenue                             $336

            To Sales revenue                                         $336

(Being 12 months sales service is recorded)

3. Cost of goods sold                            $280

            To Inventory                                                 $280

(Being cost of goods sold is recorded)

4. Deferred revenue ($336 ÷ 12)            $28

            To Service revenue                                      $28

(Being Deferred service revenue is recorded)

Working Note:-

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= (($560 ÷ ($448 + $672)) × $672

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3 0
2 years ago
Legislation defining the mission of the Federal Reserve​ states: "The Board of Governors of the Federal Reserve System and the F
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Answer:

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dual mandate -

It is the practice in which the elected officials serves in more than one elected or public position .

In Britain , this term is also referred to as double jobbing .

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Hence  from the question information , the correct option is dual mandate .

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Answer:

The Whip

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I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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