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
lawyer [7]
3 years ago
10

Gerritt wants to buy a car that costs $31,000. The interest rate on his loan is 5.67 percent compounded monthly and the loan is

for 5 years. What are his monthly payments?

Business
1 answer:
gregori [183]3 years ago
5 0

Answer:

$594.57

Explanation:

For computing the monthly payment we need to apply the PMT formula i.e to be shown in the attachment below:

Given that,  

Present value = $31,000

Future value or Face value = 0

Rate = 5.67% ÷ 12 months = 0.4725

NPER = 5 years × 12 = 60 years

The formula is shown below:  

= PMT(RATE;NPER;-PV;FV;type)  

The present value come in negative  

So, after applying the formula, the monthly payment is $594.57

You might be interested in
QUESTION 11
Margaret [11]

Answer: National Union

Explanation:

5 0
3 years ago
Ursula is allowed to set her own schedules for playtime and for studying. In return, Ursula's mother insists that her daughter k
mr_godi [17]

Ursula's mom is most likely an authoritative parent.

Explanation:

Authoritative parenthood is a childhood style of strong sensitivity and heavy demands. Authoritative parents respond with high expectations to the children's emotional needs. They set boundaries and enforce borders very systematically.

Oppressive and oppressive parents are strict and want their children a lot. Conservative and moist dominant parents, yet conservative and cold oppressive parents.

Authoritative parents discuss their children's laws and explain them. Authoritarian parents require only one path contact.

3 0
3 years ago
​Jupiter, Inc. signed a oneminusyear ​$44,000 note payable at​ 8% interest on April​ 1, 2016. If​ Jupiter, Inc. only adjusts its
choli [55]

Answer:

Dec 31 2016  Interest expense   2640 Dr

                          Interest payable      2640 Cr

Explanation:

the adjusting entry is made at the end of the period which is 31 December 2016 here. The notes pays interest at 8% per annum. So, the total interest due for one year on note payable is,

Interest = 44000 * 0.08 = 3520

Out of this amount of interest payable, 9 month's interest related to  period from April to December. So, at 31 December, we will recognie 9 month's interest as interest expense 3520 * 9/12 = 2640. And debit interest expense account by this figure. As the interest is not paid today, we will credit interest payable.

8 0
3 years ago
Read 2 more answers
In marketing research, an experiment is designed to test ______. Multiple choice question. cause and effect, often between marke
Igoryamba
The choice of the question I think
5 0
2 years ago
A product's target market is part of which of the 4 P's of marketing?​
Lostsunrise [7]

Answer:

Place

Explanation:

The marketing mix is defined as a set of the marketing tools which the organizations use them to obtain their marketing objectives in their target markets.

In other words, it is the foundation model for the businesses. It defines the key management decisions that are needed to achieve success in the marketing world.

The four P's in marketing are :

price , product , place  and promotion.

A product's target market is a part of 'place' of the 4 P's of the marketing strategy.

4 0
3 years ago
Other questions:
  • Joe​ Henry's machine shop uses 2 comma 490 brackets during the course of a year. These brackets are purchased from a supplier 90
    15·1 answer
  • Succession planning requires making forecasts of in three steps: ________, develop inside candidates, assess and choose those wh
    13·1 answer
  • Owen Cartwright has joined a real estate syndicate that bought an office building in downtown Orlando, Florida. What type of inv
    10·2 answers
  • Some industries, like the athletic shoe industry, are dominated by a small number of firms with strong brands. these industries
    5·1 answer
  • . Willie Company's retained earnings increased $20,000 during 2010. What was Willie's 2010 net income or loss given that Willie
    14·1 answer
  • When an ad for the American Indian College Fund used the headline, "I Will Keep 286,000 People from Losing Their Sacred Land" to
    14·1 answer
  • Estimate The Price Price Of A Typical New Car In Dollars
    8·1 answer
  • ACS Industries is considering a project with an initial cost of $6.2 million. The project will produce cash inflows of $1.8 mill
    13·1 answer
  • _____________________ are a form of tax and spending rules that can affect aggregate demand in the economy without any additiona
    6·1 answer
  • Gertrude company receives $15,200 relating to its installment note receivable; of this amount $9,000 represents interest. in its
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!