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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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n a recent year's financial statements, home depot reported the following results. sales $ 95 billion net income 8 billion avera
faltersainse [42]

The  home depot's return on assets is 19.05%

The home depot's return on assets is 8.05% better than the 11% return of lowe's

What is return on assets?

The return on  on assets means the net income of Home Depot as percentage of the average total assets, in other words, the return on assets is the net income divided average total assets , not sales revenue, which is applicable to profit margin

return on assets=net income/average total assets

net income=8 billion

average total assets=42 billion

return on assets=8 billion/42 billion

return on assets=19.05%

difference in return on assets=19.05%-11

difference in return on assets=8.05%

The home depot's return on assets is 8.05% better than the 11% return of lowe's

Find out more about return on assets on:brainly.com/question/23554298

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3 0
2 years ago
Select the correct answer.
Gwar [14]

Answer:

I believe the answer is B. 30 percent

<em>good luck, i hope this helps :)</em>

<em />

3 0
3 years ago
Read 2 more answers
Opera Corp uses the periodic inventory system. For the current month, the beginning inventory consisted of 7,200 units that cost
Kryger [21]

Answer:

$159,057

Explanation:

The computation of cost of goods sold is shown below:-

Total cost of goods available for sale = (7,200 × $10) + (4,000 × $13) + (12,000 × $13.50)

= $72,000 + $52,000 + $162,000

= $286,000

Total units = 7,200 + 4,000 + 12,000

= 23,200

Average cost per unit = Total cost of goods available for sale ÷ Total units

= $286,000 ÷ 23,200

= $12.33

So,

Cost of Goods sold = Sold units during the month × Average cost per unit

= 12,900 × $12.33

= $159,057

Therefore for computing the cost of goods sold for the month we simply applied the above formula.

3 0
2 years ago
Windsor, the owner of Windsor's Sandwiches contacts a new supplier Gary. He tells Gary that he will pay him $375 if Gary deliver
adelina 88 [10]

Answer:

Bilateral Contract

Explanation:

A bilateral contract is an agreement between two parties in which each side agrees to fulfill his or her side of the bargain.

The bilateral contract is the most common kind of binding agreement. Each party is both an obligor (a person who is bound to another) to its own promise, and an obligee (a person to whom another is obligated or bound) on the other party's promise. A contract is signed so that the agreement is clear and legally enforceable.

In this case Windsor promises to pay $375 and Gary promises to deliver 20 pounds of cheese.

4 0
3 years ago
Everyone in the organization has a stake in how information is processed and managed.
Korvikt [17]
This is true. Hope I could help!
7 0
3 years ago
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