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pantera1 [17]
2 years ago
12

Grouper Excavating Inc. is purchasing a bulldozer. The equipment has a price of $95,300. The manufacturer has offered a payment

plan that would allow Grouper to make 7 equal annual payments of $18,935.22, with the first payment due one year after the purchaseA. How much total interest will Grouper pay on this payment plan? $37,247B. Grouper could borrow $95,300 from its bank to finance the purchase at an annual rate of 8%. Should Grouper borrow from the bank or use the manufacturer’s payment plan to pay for the equipment? Borrow From The Bank.What is the Manufacturers rate????
Business
1 answer:
ICE Princess25 [194]2 years ago
6 0

Answer:

A total interest $37,246.54

B  It will pay $18,304.50 dollar per year

<em>It is better to use the boan borrowing as the installment per year is lower.</em>

Explanation:

A installment times time less principal = total interest

18,935.22 x 7 - 95,300 = 37,246.54

B calcualte the installment of the bank offer:

PV \div \frac{1-(1+r)^{-time} }{rate} = C\\

PV 95,300.00

time 7

rate 0.08

95300 \div \frac{1-(1+0.08)^{-7} }{0.08} = C\\

C  $ 18,304.500

<u>As it is lower than manufactures quota it should be accepted </u>

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Prepare a one page memo for your boss briefly summarizing how you concluded the meeting. More importantly, recommend to your bos
grigory [225]

Answer:

Memo for business promotion

Explanation:

To : Manager

From : Finance Officer

Subject : Actions for moving forward

The business meeting has been concluded successfully and minutes of the meeting is prepared in the document. The business needs to be moved forwards as there are many competitors entering in the market. The business need to focus on introducing new products which are demanded by the customer and allow some customization according to customer needs. The packaging of the products also needs to be revised as the presentation is also important for customer to make a buy decision. The business profits will increase and the sales will be high.

Further minutes of the meeting are attached with the memo.

Sign: Edward,

7 0
2 years ago
Your bank card has an APR of 18% and there is a 2% fee for cash advances. The bank starts charging interest on cash advances imm
Marina86 [1]

Answer:

$42

Explanation:

APR = 18% , month rate = 18%/12 = 1.5%

Fee for cash advance = 2%

Cash advance of the first day of month = $1,200

Finance charge = Cash advance * (Monthly rate + Advance cash fee)

Finance charge = $1,200*1.5% + $1,200*2%

Finance charge = $18 + $24

Finance charge = $42

So, the approximate total finance charge i will pay on this cash advance for the month is $42

4 0
2 years ago
In 2008, Jiffy Lube began a marketing campaign which encouraged women to focus on their cardiovascular health. Jiffy Lube's "Mai
grandymaker [24]

<u>Answer:</u>Cause marketing

<u>Explanation:</u>

Cause marketing is the strategy where the motive is to increase the profits of the organisation as well as have concern for the society. Jiffy Lube marketing campaign includes a social cause of maintaining the cardiovascular health and also through this campaign they are trying to raise $1 million which is monetary based.

So cause marketing is for both creating awareness about the cause and also to raise funds to support the campaign. The brand's message is also given as well as the profits are also made through this campaign.

8 0
3 years ago
During Year 2, Chico Company earned $1,950 of cash revenue, paid $1,600 of cash expenses, and paid a $150 cash dividend to its o
SCORPION-xisa [38]

Answer:

B) Total assets increased by $200.

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If during Year 2, Chico Company earned $1,950 of cash revenue, paid $1,600 of cash expenses, and paid a $150 cash dividend to its owners. Based on this information alone:

Then it is correct that there was a net income of $350 before the payment of dividend which is gotten by 1,950 - 1,600. Cash from operating activities will also be the same amount of $350.

However it will not be correct to state that assets increased by $200 as there is no such indication.

6 0
3 years ago
What happens when a bond becomes due?
katen-ka-za [31]
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6 0
3 years ago
Read 2 more answers
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