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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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The new-product process stage of market testing involves which two items? Multiple select question. using realistic purchase con
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The new-product process stage of market testing involves  two items -

  • Using realistic purchase conditions to see if consumers will buy
  • Exposing actual products to prospective consumers

  • To find out how well a product, service, or offering will perform, one can conduct market research.
  • It often consists of research studies that seek to provide answers to concerns about how the market will respond to the introduction of the product.
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4 0
2 years ago
What is the reason it's better to underestimate your income instead of overestimating when creating your budget?
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Answer:

  • <em>Underestimating your income is a conservative and healthy measure that can avoid financial problems.</em>

Explanation:

<em>Underestimating</em> your <em>income</em> is a conservative and healthy measure, such as it is overestimating your expenses.

Specially when your income is variable iit can be hard to predict. You will be safer both if your income lowers or your unpredictable expenses increase.

There are many unpredictable situations that could put you in a difficult situation: a disease, a natural disaster, the need to help a family member or friend in trouble. If any of these unfortunate circumstances arises and your budget is too tight, you could see yourself in financial trouble.

But, if you if all is smooth you will have in a happy situation, you will have a surplus which can use for savings, for an important purchase, or for vacations.

It is better to be cautious than to regret later!

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Answer:

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