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MaRussiya [10]
3 years ago
11

27) Cooley Landscaping Company needs to borrow $30,000 for a new front-end dirt loader. The bank is willing to loan the funds at

8.5% interest with annual payments at the end of the year for the next ten years. The loan is fully amortized, i.e., the loan will be fully paid off at the end of year ten. What is the annual payment on this loan for Cooley Landscaping?
Business
1 answer:
viva [34]3 years ago
7 0

Answer:

The annual payment at the end of each year: $4,572.23

Explanation:

The formular for calculating Present value of Annuity is applied in this case to help us find the equal annual payment.

Applying information in the question, we have the annuity that have:

n= 10 as there are 10 equal annual payments paid at the end of each year during 10 years;

i = 8.5% per annum compounded annually, as stated in the question;

PV = Borrowed amount = $30,000;

C = the equal annual payment.

The formular for PV of Annuity: PV = (C/i) x [ 1- (1+i)^(-n)] <=> C = (PV x i) / [ 1- (1+i)^(-n)]

Thus, C = (30,000 x 8.5%) / [ 1- 1.085^(-10) ] = $4,572.23

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<em><u>answer</u></em>

Procedure for Registering a Partnership Firm

Step 1: Application for Registration. An application form has to be filed to the Registrar of Firms of the State in which the firm is situated along with prescribed fees. ...

Step 2: Selection of Name of the Partnership Firm. ...

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6 0
3 years ago
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Bob, a salesperson at a Carpets Galore store, tells Dita, a customer, "Buy your carpet here, and I'll install it for half of wha
monitta

Answer:

Duty of Loyalty

Explanation:

  • The duty of loyalty, described as a duty, is the duty of a person to act in the best interests of their company, which is not to waste when the individual sees corporate opportunities for their personal benefit, avoid personal interest in transactions between the company and other parties, and keep company information private. .
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3 0
3 years ago
Adrian Atwood, a senior manager at MNC, spends a lot of his time assigning group members to particular tasks and scheduling thei
Triss [41]

Answer:

According to the Ohio state studies , we can say that the Adrian as leader is high in initiating structure.

Explanation:

Initiating structure can be defined as the particular degree to which a leader would define his or her role and also specify and organize the role of employees too, in order to achieve the organizations goals.

Adrian is also doing the same thing here, as she has given a lot of time in assigning employees their particular tasks and scheduling their work , in such a way that goals are achieved.

3 0
3 years ago
The period between March 9 and June 16, 1933, when Congress passed 15 major acts to meet an economic crisis, was called________.
JulijaS [17]

Answer:

Hundred Days

Explanation:

The period between March 9 and June 16, 1933, when Congress passed 15 major acts to meet the economic crisis of the Depression was called <u>the hundred Days</u>. As we know that the First New Deal began in a whirlwind of legislative action called “The First Hundred Days.” From March through June 1933, at Roosevelt’s behest, Congress passed legislation aimed at addressing the banking crisis, unemployment, and weak industrial performance, among other problems, through an “alphabet soup” of new laws and agencies.

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3 years ago
The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2900 units, the actual direct
pashok25 [27]

Answer:

$5400 Favorable

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Standard 2 hour at $15 per hour

Standard hours 2 hour per unit * 2900 units = 5800 hours

Total Standard cost = 5800 hours * $15 per hour =  $87,000

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Actual cost = $81600 / 5100 hours = $16 per hour

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Total Labor variance = $5400 ($87,000 - $81,600)

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3 years ago
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