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mylen [45]
3 years ago
9

ou want to buy a new sports car from Muscle Motors for $76,000. The contract is in the form of a 60-month annuity due at an APR

of 7.15 percent, compounded monthly. What will your monthly payment be
Business
1 answer:
Len [333]3 years ago
8 0

Answer:

$1510.28

Explanation:

The monthly on the purchase of new sports car can be  computed using the pmt excel function as shown below:

=pmt(rate,nper,-pv,fv)

rate is APR of 7.15% expressed in monthly terms i.e 7.15%/12

nper is the number of months that payments would last i.e 60 months

pv is the cost of the new sports car i.e $76000

fv is the balance owed after the 60th payment i.e $0

=pmt(7.15%/12,60,-76000,0)=$1510.28

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Answer
B
Explanation
5 0
3 years ago
On January 1, a machine with a useful life of five years and a residual value of $5,000 was purchased for $25,000. What is the d
emmasim [6.3K]

Answer:

c. $4,000

Explanation:

The computation of the depreciation expense for year 2 under straight-line method is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($25,000 - $5,000) ÷ (5 years)

= ($20,000) ÷ (5 years)  

= $4,000

In this method, the depreciation is same for all the remaining useful life i.e $4,000 is charged for remaining three years

7 0
3 years ago
An LCD screen is purchased to be used in the manufacturing of a digital watch. The standard price for the LCD screen used is $40
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The answer would be
7 0
3 years ago
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rapid prototyping

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3 0
3 years ago
Assume Worldwide Cleaning Service had net income of $ 900 for the year. Worldwide Cleaning​ Service's beginning and ending total
g100num [7]

Answer:

return on assets = 20%

Explanation:

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solution

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