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Tanzania [10]
3 years ago
13

You currently owe $20,000 on a car loan at 8.25 percent interest. If you make monthly payments of $596.59 per month, how long (i

.e., number of months rounded to one decimal place) will it take you to fully repay the loan
Business
1 answer:
abruzzese [7]3 years ago
7 0

Answer:

The answer is: 36.2 months

Explanation:

First, let us calculate the total amount to be repaid after interest has been added.

interest = 8.25% = 0.0825

interest in amount = 0.0825 × 20,000 = $1,650

Total amount to be repaid = Original amount + interest

= 20,000 + 1,650 = $21,650

Next, we are told that the repayment is made monthly at $596.59 per month, therefore number of months required to pay $21,650;

$596.59 = 1 month

∴ $21,650 = 21,650 ÷ 596.59 = 36.28 = 36.3 months ( to one decimal place)

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Assume both Atlantis and Zanadu produce helmets and baseballs. Using equal amounts of resources, Atlantis can produce 100 helmet
jeka57 [31]

Answer:

a) see attached image

b) Atlantis's opportunity cost of producing one helmet = 200 / 100 = 2 baseballs

c and d) Atlantis's opportunity cost of producing one baseball = 100 / 200 = 0.5 helmets

Zanadu's opportunity cost of producing one baseball = 100 / 400 = 0.25 helmets ⇒ Zanadu has a comparative and absolute advantage in the production of baseballs

e) yes, Atlantis would produce 100 helmets, and if it trades 50 to Zanadu, it will get 150 baseballs in return. So it will gain from trade. If Zanadu produces 400 baseballs and trades 150 of them for 50 helmets, it will also benefit.

Explanation:

3 0
2 years ago
RKO Company sold bonds with a face value of $850,000 for $910,000. The bonds have a coupon rate of 8 percent, mature in 10 years
Alex73 [517]

Answer:

cash                910,000 debit

  bonds payable                 850,000 credit

  premium on BP                  60,000 credit

-- to record issuance of bonds --

interest expense 63700 debit

amortization                 4300 credit

cash                       68000 credit

--to record coupon payment at December 31th--

Explanation:

issuance:

cash proceed of 910,000 face value of 850,000 the 60,000 difference wil be a premium.

interest entry:

we multiply the carrying value of the bonds by the market rate

we calcualte the cash procees as ussual: face value x bond rate

the difference wil be the amortization on premium

910,000 x 7%  63,700

850,000 x 8% 68,000

amorization       4,300

5 0
3 years ago
Which analogy about leasing or financing a vehicle is correct
stealth61 [152]

Answer:

a b c or d

Explanation:

no explanation sorry

3 0
2 years ago
At the beginning of this month, the balance of clayton's checking account was $337.55. so far this month, he has received a payc
kupik [55]
The answer is $1034.52 hope i helped
5 0
3 years ago
Read 2 more answers
Etmer enterprises has budgeted sales for the next four months as follows: budgeted sales in units january 7,400 units february 4
Artyom0805 [142]

Units to be produced in February is calculated as -

Units to be produced in February = February sales + Ending inventory of February - Beginning inventory

February sales = 4,600 units

Ending inventory = 25 % * Sales of March = 25 % * 5,300 units = 1,325 units

Beginning inventory - 25 % * Sales of February = 25 % * 4,600 unit = 1,150 units

Units to be produced in February = 4,600 units + 1,325 units - 1,150 units

Units to be produced in February = 4,775 units

8 0
3 years ago
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