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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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In many larger U.S. based firms the __________ matches the overall strategy of the firm and reinforces the __________ emerging f
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reward system; culture

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6 0
3 years ago
Corporate Fund started the year with a net asset value (NAV) of $12.50. By year-end, its NAV equaled $12.10. The fund paid year-
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Answer:

The rate of return to an investor in the fund=0.088*100=8.80%

Explanation:

Given Data:

NVA at the start of the year=(NAV)_o=$12.50

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Distributions of income and capital gains =$1.50

Required:

The rate of return to an investor in the fund=?

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Rate of return=\frac{(NAV)_f+\ Distributions}{(NAV)_o}-1

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Indirect costs occur when
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Like direct cost, indirect cost can be fixed or variable.

Indirect costs are used by business as a whole and not just limited to a particular product.

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Option C and D are also wrong

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