You have $5,000 to invest for the next year and are considering three alternatives:_______

George bought a car for $26,500. he made no down-payment and financed the entire amount on a 5-year term with a monthly payment

pentagon [3]

Given:
Principal, P = 26500
term=5 years
Monthly payment, A = 695

Question: Find interest rate

Solution:
Unless there is a table available, there is no explicit formula to calculate interest. However, the interest rate can be solved for using the formula to calculate the monthly payment, as follows.

$A=\frac{P(i*(1+i)^{n})}{(1+i)^{n}-1}$
Substituting
P=26500
i=monthly interest rate to be found
A=monthly payment=695
n=5*12=60 months
$A=\frac{26500(i*(1+i)^{60})}{(1+i)^{60}-1}$
Rearrange to give successive estimates of i by
I(i)=(695/26500)*((1+i)^60-1)/(1+i)^60
Try initial estimate of i=0.02 (2% per month)
I(0.02)=0.0182
I(0.0182)=0.01736
I(0.01736)=0.01689
....
Eventually we get the value to stabilize at i=0.016265, or
Monthly interest = 1.6265% (to four decimal places)

4 0

3 years ago

Armando, a manager for Petros Pizza Pies (PPP), dies in an accident on July 12. PPP pays his wife, Penelope, $600 in salary that

stepan [7]

Answer:

Explanation:

Ms. P receives $6,000 from Company P due to her husband A's loyal service and She receives $600 that her husband earned prior to his death. Hence, Ms P earns a total of $6,600 ($6000 + $600) gross income.

The amount of $90,000 receive from the life insurance proceeds are excluded from the gross income.

Ms P's daughter receives $4,000 from company P. It should be included in her daughter income.

8 0

4 years ago

Which economic goal is a major one of command economies?

pickupchik [31]

Answer:

the answer is equity.

Explanation:

the social equity in resource allocation and distribution is the main concern of an command economy. The entire "command" function is there for this purpose. Opposing to the market system, in which the efficiency of the market is of primary concern, the command system argues that while following to achieve the maximum market effeciency, these economies miss out on the fainress and unbiasedness in economic benefit destribution and therefore creates many social problems such as poverty, rich and poor gap, etc as a result.

The command economy tries to overcome this problem of Equity in market economies.

4 0

3 years ago

Alternative A would involve substantial fixed but relatively low variable costs: fixed costs would be $250,000 per year, and var

stepladder [879]

Answer:

From zero to 33 boats option B would be best

Explanation:

Assuming the first alternative (A)is 250,000 fixed and 500 per boat

second (B) 2,500 cost per boat

and third (C) 50,000 fixed and 1,000 cost per boat

We want' to know at which level B would be the best option

we want to know when alternative C or A have a cost of 2,500 or lower:

A:

$500 + \frac{250,000}{Q} = 2,500$

$\frac{250,000}{2,500 - 500} = Q$

Q = 125

From this point, as fixed cost will be distribute among more units, the cost will decrease meaking C better than B

C:

$1,000 + \frac{50,000}{Q} = 2,500$

$\frac{50,000}{2,500 - 1,000} = Q$

Q = 33.33

From this point, as fixed cost will be distribute among more units, the cost will decrease meaking A better than B

From zero to 33 boats option B would be the best of the three options

6 0

3 years ago

An agreement that requires employees to settle disputes with their employer using arbitration instead of a lawsuit is known as

Reil [10]

Answer:

An arbitration agreement is a contract in which you and your employer agree that certain disputes will be decided in arbitration, not litigation. When you sign a binding arbitration agreement, you are giving up your right to go to court.

Explanation:

6 0

2 years ago

You have $5,000 to invest for the next year and are considering three alternatives:________.