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makvit [3.9K]
3 years ago
5

You have arranged for a loan on your new car that will require the first payment today. The loan is for $24,500, and the monthly

payments are $465. If the loan will be paid off over the next 60 months, what is the APR of the loan?
Business
1 answer:
kykrilka [37]3 years ago
4 0

Answer:

84%

Explanation:

APR is the annual rate of interest that is paid on an investment, without taking into account the compounding of interest within that year. APR is calculated by multiplying the periodic interest rate by the number of periods in a year in which the periodic rate is applied.

Divide the finance charge by the loan amount. In this case, $3,400 divided by $24,500 equals 0.138

Multiply the result by 365 to get 50.4

Divide the result by the term of the loan. In this case, 50.4 divided by 60 is 0.84

Multiply the result by 100 to turn the answer into a percentage 84%

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This morning your manager asked you to complete a special task by this afternoon. While you are working on it, a customer asks y
dem82 [27]
Ill ask for help from another coworker- if there was no one else available to help them I would help the customer if I am in that field


i needed points
8 0
2 years ago
Karen Rogers is a salesperson for Solar Panels Inc. She attends builder trade shows to identify potential customers in an effort
tatiyna

Answer:  

Prospecting

Explanation:

Prospecting selling process -

It is the very first step in the process of sales , according to this step ,

The step involves the detecting the potential of the customers .

The focus of prospecting is to develop the database of the customers and to communicate with them in order to convert the potential customers to the current customers .

Hence from the question ,

Karen Rogers is involved in the prospecting selling process .  

7 0
3 years ago
Accounts receivable arising from sales to customers amounted to $84,000 and $74,000 at the beginning and end of the year, respec
solmaris [256]

Answer:

$330,000

Explanation:

Change in WC = Opening receivables - Closing receivables

Change in WC = $84,000 - $74,000

Change in WC = $10,000

The decrease in working capital is $10,000

Cash from operating activities = Net income + Decrease in Working Capital

Cash from operating activities = $320,000 + $10,000

Cash from operating activities = $330,000

Thus, the cash from operating activities is $330,000

4 0
3 years ago
at the end of the current year, using the aging of accounts receivable method, management estimated that $16,500 of the accounts
Furkat [3]

The adjusting entry that the company should pass at the end of the current year to record the bad debts expense:

Bad Debts Expense 16,900

Allowance for Doubtful Accounts  16,900

<h3>What is an allowance for doubtful accounts?</h3>

A contra account called an allowance for doubtful accounts nets against the total receivables shown on the balance sheet to only show the amounts anticipated to be paid. The percentage of accounts receivable that are anticipated to be uncollectible is estimated by the allowance for doubtful accounts.

A negative balance in the allowance for doubtful accounts means that more accounts than anticipated have been written off. A contra asset account with a typical credit balance is the allowance for doubtful accounts.

Under the aging method, the adjusting entry for bad debt expense is calculated using the following formula:

Estimate of uncollectible accounts - (+) Current credit (debit) balance in the allowance for doubtful accounts = Bad debt expense

Hence, The adjusting entry that the company should pass at the end of the current year to record the bad debts expense is given above.

Learn more about the allowance for doubtful accounts:

brainly.com/question/17008094

#SPJ4

"Your question is incomplete, probably the complete question/missing part is:"

Bad Debts Expense 16,500

Allowance for Doubtful Accounts  16,500

Bad Debts Expense 16,100

Allowance for Doubtful Accounts  16,100

Bad Debts Expense 16,900

Allowance for Doubtful Accounts  16,900

Accounts Receivable 16,500

Bad Debts Expense 400

Sales  16,900

Accounts Receivable 16,900

Allowance for Doubtful Accounts  16,900

8 0
1 year ago
Jordan (single, age 30), a real estate broker (self-employed), had the following income and expenses:
natita [175]

Given:

Commission income  = $180,000

Medical insurance =  $10,000

Salary expense  = $40,000

Medical insurance premium paid for himself  = $7,000

Office rental expense  = $30,000

Medical expenses paid for himself  = 5,000

Computation of business income:

Business income = Total revenue - Total expenses

Business income = $180,000 - ($10,000 - $40,000 - $30,000)

Business income = $180,000 - $80,000

Business income = $100,000

Note: Self-incurred expenses are not included in business expenses.

Computation of AGI:

AGI = Business income - Deduction from schedule c

AGI = $100,000 - Medical insurance premium paid for himself  

AGI = $100,000 - $7,000

AGI = $93,000

Therefore, option "B" is the correct answer to the following question.

7 0
3 years ago
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