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deff fn [24]
3 years ago
11

On January 1, Year 1, Turner Company borrowed $58,000 from Lessing Inc. and signed a three-year installment note to be paid in t

hree equal payments at the end of each year. The present value of an annuity of $1 for 3 periods at 7% is 2.62432. What is the amount of the installment payment?
Business
1 answer:
Rashid [163]3 years ago
6 0

Answer:

Per year installment shall be $22,101

Explanation:

By using annuity formula we have

P=$58,000

Annuity Factor=2.62432

P=Installment*2.62432

$58,000=Installment*2.62432

Installment=$58,000/2.6243

Installment per year=$22,101

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You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an apr of 6.6 percent fo
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Answer: The monthly payment will be $2007.81.

We have:

Cost of the sports coupe (PV)                     $84,500

Annual Percentage Rate (APR)                         6.6%

Loan tenure in months (n)                                    48

We can find the monthly payment by using the Present value of an annuity formula:

\mathbf{PV_{Annuity}= PMT * \left ( \frac{1-(1+r)^{-n}}{r} \right )}

Since APR is a yearly number, we need to convert it into a monthly rate.

So , r = \frac{0.066}{12} = 0.0055

Plugging values in the PV formula above we get,

\mathbf{84500 = PMT * \left ( \frac{1-(1+0.0055)^{-48}}{0.0055} \right )}

\mathbf{84500 = PMT * \left ( \frac{1-0.768529253}{0.0055} \right )}

\mathbf{84500 = PMT * \left ( \frac{0.231470747}{0.0055} \right )}

\mathbf{84500 = PMT * 42.08559028}

\mathbf{\frac{84500}{42.08559028}= PMT}

\mathbf{PMT = 2007.813112}



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A setting of plainsong with two to four notes per syllable is called:
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Neumatic gregorian chant
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3 years ago
In the job performance formula Performance=M+A+E, what does M stand for?
Illusion [34]

<u>Answer: </u>Motivation

<u>Explanation:</u>

In the job performance formula M stands for motivation, A for Ability and skills E for Environmental obstacles. When the company's performance is stable over time because of the employee's performance then the employee's will be rewarded with huge incentives.

This model where Performance=M+A+E it denotes that the compensation benefits does not change the employee behavior towards his performance . Only these three factors determine his performance behavior. When these three factors are not met in enough then it reflects in inefficient performance of the employee.

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The value of cars produced by a Japanese company are part of United States Gross Domestic Product (GDP) as long as the cars are produced in a factory located within U.S. territory.
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