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andrezito [222]
3 years ago
6

The manager of Gloria's Boutique has approved Carla's application for 24 months of credit with maximum monthly payments of $70.I

f the APR is 14.2 percent, what is the maximum initial purchase that Carla can buy on credit?
Business
1 answer:
Ymorist [56]3 years ago
4 0

Answer:

Maximum initial purchase that Carla can buy on credit is <u>$1455.08</u>

Explanation:

Formula = M = [P (1 + r)^n * r] / [(1 + r)^n - 1]

$70 = P [(1 + 0.142/12)^24 * 0.142/12 ] / [(1 + 0.142/12)^24 - 1]

= $70 = P (1.326209535) * 0.142/12 / 0.326209535

= $70 = P * 0.0156934795 / 0.326209535

= P = $1455.08

So, the maximum initial purchase that Carla can buy on credit = $1455.08

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Answer:

The Dependent or the Beneficiary collect $1000 every month pay income tax

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The mother is the dependent and the beneficiary ,who takes the trust monthly

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The makers of Tide Detergent recently created "pods" of the product, characterized by a small, square, plastic-wrapped packet th
notsponge [240]

Answer:

maturity

Explanation:

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3 years ago
Maldonia has a comparative advantage in the production of sugar , while desonia has a comparative advantage in the production of
steposvetlana [31]
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3 years ago
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zimovet [89]
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Elena L [17]

Answer:

A) The current supply will shift to the left

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