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8_murik_8 [283]
3 years ago
13

You have just purchased a car and, to fund the purchase, you borrowed $31,000. If your monthly payments are $493.25 for the next

6 years, what is the APR of the loan?
Business
1 answer:
Free_Kalibri [48]3 years ago
7 0

Answer:

4.56%

Explanation:

The annual percentage rate refers to the rate at which the loan amount is equal to the present value of cash flows

In mathematically

Loan amount = Present value of cash flows

Loan amount = Monthly payment × PVAF (rate, number of years)

$31,000 = $493.25 × PVAF (rate, 72 months)

So,

PVAF (rate, 72 months) = 62.8485

And, the monthly rate  is = 0.38%

So, the APR is

= Monthly rate × total number of months in a year

= 0.38% × 12

= 4.56%

The 72 months is

= 6 years × 12 months

= 72 months

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One of the advantages of a c corporation is ease of formation true or false
ziro4ka [17]

Answer:

true

Explanation:

A corporation is a  form of business that gives room for seprate , legal entity but it is usually guided by some group of intelectuals referred to as board of directors. The corporation structure is the most advantageous way to kick start a business because it is  the corporation operates as a separate entity.

Corporation has all the legal rights of an individual except some little limitations on  right to voting and some other little limitations.

5 0
3 years ago
Fisher Company has 1,000,000 share of common stock with a par value of $10. Additional paid-in capital totals $10,000,000 and re
aleksley [76]

Answer:

B. $300,000

Explanation:

The computation of the reduction of retained earning amount is shown below:

= Number of shares of common stock × stock dividend percentage × market value

= 1,000,000 shares × 6% × $5

= $300,000

Since the dividend amount is adjusted while computing the ending balance of retained earning balance and the same is to be considered in the computation part.

All other information which is given is not relevant. Hence, ignored it

8 0
3 years ago
How can social media endanger the safety of military service members and journalists?
viktelen [127]

Answer:

"GPS technology may accidentally leak confidential information about the location."

Explanation:

A good case in point was a watch tracking service that leaked classified GPS coordinates of our military servicemen and women's location. It jeopardized our ability to effectively operate in a foreign land without notice of occupied territory.

In this question, it places our military and journalists at risk because they know where they are at and so forth.

5 0
3 years ago
Market power"" Select one: a. Is the ability to lower costs and earn monopoly profits. b. is the ability to raise price without
Rufina [12.5K]

Answer:

The correct answer is option b.

Explanation:

Market power can be defined as the ability of a firm or a group of firms to increase the price above the competitive level and do not lose all the demand.

The firms in a perfectly competitive market have no market power because there are a number of firms in the market. If a firm increases the price, its demand will fall to zero.

In imperfect competition though, the firms enjoy a certain degree of market power.

3 0
3 years ago
Which of the following is a criterion that must be met in order for an item to be recognized as an intangible asset?
Amiraneli [1.4K]

Answer:

The item is identifiable and lacks physical substance.

Explanation:

Intangible asset: Intangible asset is that asset which cannot be seen or even touched. It has no physical existence.

Example: Goodwill, patents, trademarks, copyrights and other intellectual properties

In these types of assets, amortization is charged instead of depreciation.  

It neither used for production, nor its gains any scientific or technical knowledge, and its value neither measure reliability

Hence, option a is correct  

3 0
3 years ago
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