1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Brut [27]
2 years ago
8

7. Total Cost for Savings Piggy bank with cash Dean is planning to purchase a new Nissan Altima which costs $26,865. He has save

d up $3,200 to put toward it. He is thinking about getting a loan for it from his credit union, but he could also keep driving his beat-up old car for a while longer and save up cash for the new one. Dean would like to get the car soon, but he wants to at least look into the option of saving up and paying cash for the car so he doesn't have to pay so much for interest. Possibility Two: Saving Up Assume Dean puts his $3,200 in his savings account, which has an APR of 1.2%. You've already determined how much he needs to add to the account every month in order to have all $26,865 saved up to pay cash for the car in five years. If Dean decides to do this, how much of his own money will he have put into the savings account to pay for his car? Don't forget the initial deposit as well as the monthly payments.
Business
1 answer:
son4ous [18]2 years ago
7 0

Answer:

The monthly deposit is calculated using PMT function :

rate = 1.2%/2 (converting annual rate into monthly rate)

nper = 12 * 5 (5 years of deposits with 12 monthly deposits each year)

pv = -3200 (Amount put into account now. This is entered with a negative sign because it is a cash outflow)

fv = 26865 (Required value of account after 5 years)

PMT is calculated to be $379.70.

The monthly deposit is  $379.70.

You might be interested in
In the face of demographic pressures dealing with an aging workforce, many employers try to use _____ among their older workers
leonid [27]
In the face of demographic pressures dealing with an aging workforce, many employers try to use  voluntary attrition am<span>ong their older workers through early retirement incentive programs.

voluntary attrition refers to the action taken by the employee to resign him/herself from the workforce. Older employees tend to have lower performance compared to the younger employeess. Offering early retirement benefit will allo the company to do a regeneration among itss workforce.


</span>
4 0
3 years ago
Help me please!
Lady_Fox [76]
Gathering information is the right answer C
7 0
2 years ago
Read 2 more answers
How many ig followers do i have alexamaldonadoo go quick ill give brainliest
tatiyna
1,244 but ima follow so 1,245
8 0
2 years ago
Read 2 more answers
Company X had net income of $200,000 in the year 2016. At the beginning of 2016, there were 500,000 shares of outstanding common
EleoNora [17]

Answer:

Basic earning per share $0.21 per share

Explanation:

Basic Earning per share = ( Net Income - Preferred stock dividend ) / Weighted Average outstanding shares

Basic Earning per share = ( $200,000 - $50,000 ) / 700,000

Basic Earning per share = $150,000 / 700,000

Basic Earning per share = $0.2143 / share

Weighted average Outstanding shares = 500,000 + 200,000

Weighted average Outstanding shares = 700,000 shares

5 0
2 years ago
The owner of a valuable painting hired professional movers to transport it to an auction house when she decided to sell it. As t
MAVERICK [17]

Answer:

No. She suffered no physical impact

Explanation:

Negligent infliction of emotional distress occurs when a person engages in an act that can cause  severe emotional distress to another .

The plaintiff must be able to prove that the act was done willfully or provide an evidence that

  • It was a result of defendant's negligence
  • Plaintiff suffered emotional distress a direct  result of the action
  • The action was foreseeable by the defendant
  • The plaintiff was in a danger zone

before he can win a claim.

The question here is how to prove emotional stress? The plaintiff must be able to show a verifiable physical injury that is linked to the emotional distressed suffered.

7 0
3 years ago
Other questions:
  • It has been abundantly demonstrated that nominal interest rates, exchange rates, and inflation are very tightly linked. In Italy
    8·1 answer
  • Emily has been waiting for a promotion to a management position for almost five years, when she notices that men fill most of th
    15·1 answer
  • Small populations are subject to changes in allele frequencies simply due to random chance, such as the accidental death of an i
    9·1 answer
  • Chips Corp., has contacted Cierra with an offer to sell to Cierra 10,000 of the chips for $22.00 per chip. If Cierra accepts the
    13·1 answer
  • Suppose that households have significantly reduced their consumption of beef in response to a rise in beef prices, and substitut
    14·1 answer
  • Accounts receivable arising from sales to customers amounted to $80,000 and $65,000 at the beginning and end of the year respect
    14·1 answer
  • The income statements for Federer Sports Apparel for 2019 and 2018 are presented below Required Prepare a horizontal analysis fo
    14·1 answer
  • Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases
    13·1 answer
  • Llewelyn Company purchased 1,000 shares of its own $10 par value common stock when the market price of the stock was $36 per sha
    15·1 answer
  • The focal point of most ads is _____.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!