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Studentka2010 [4]
3 years ago
10

Prescott Bank offers you a five-year loan for $75,000 at an annual interest rate of 6.8 percent. What will your annual loan paym

ent be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
notsponge [240]3 years ago
7 0

Answer:

Y= $18,194.05

Explanation:

This is a form of annuity that involves payment of equal amounts monthly for 5 years. These amount are made up of part of the interest and part of the principal.

Using the annuity formula

P= Y{1-(1/[1+r]^n)/r}

Where P = Initial loan amount

Y = yearly payment

r= interest rate

n= number of years

75,000= Y{1-(1/[1+0.068]^5)/0.068}

75,000= Y{1-(0.719689)/0.068}= Y{0.280311/0.068}

Y= 75,000/4.122227

Y= $18,194.05

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Bren Company sold a car for $17,100. The cost of the car was $37,000 and the depreciation expense was recorded at 10% for five a
fomenos

The loss on the disposal of the car is $-16,200.

The first step is to determine the total depreciation on the car.

Depreciation expense = percentage depreciation x cost of the asset

$37,000 x 0.1 = $3700

The second step is to determine the book value of the car = cost of the car - depreciation

$37,000 - $3700 = $33,300.

The book value is greater than the selling price of the car, so there was a loss on the sale. The third step is to determine the gain on the sale.

Loss = $17,100 - $33,300  = $-16,200

A similar question was answered here: brainly.com/question/24357323

3 0
2 years ago
The Bubbly Soda Company is creating written correspondence to send to customers in the Midwest. The company decides to refer to
RoseWind [281]

Answer: Location.

Explanation:

The Bubbly soda company adjusted their products name when writing to their customers from the Midwest region to suit the location they are from. The company understands that by using certain terms common to people from a particular location, the people would easily relate to a message.

8 0
4 years ago
A cable TV company redesigned jobs so that one employee interacts directly with customers, connects and disconnects their cable
allsm [11]

Answer:

a. increasing job enrichment by establishing client relationships

Explanation:

The job enrichment is the technique for motivation which is given by the business organization with the view that the employee performs his best by giving him additional responsibilities so that the organization can achieve its targets in an efficient and effective manner.  

The self -reinforcement is that technique for motivation in which the employee motivates himself so that he is able to work in the best manner.  

The job rotation is that technique for motivation in which the employee assigned the two or more tasks in different rotations

Job specialization means that the person who has the interest will take that department. Example - marketing, finance, human resource

The job feedback is given by the employee regarding the salary package, working environment, benefits, etc

Hence, in the given situation the most appropriate option is a.

4 0
3 years ago
The difference between a credit card and a debit card is that when you use a credit card, the amount of money you spend is autom
Nastasia [14]
False, a credit card doesn’t deduct from your checking account nor is it linked to your checking account only a debit card deducts from your checking account.
3 0
4 years ago
Read 2 more answers
Miller is the owner of a restaurant that has several franchises. One of the franchisees owes Miller a sum of $18,000 for the goo
sammy [17]

Answer:

Accounts receivable

Explanation:

Accounts receivable is the money owed by a company to its debtors. They are usually legal payments for goods and services procured in credit without paying for them.

  • The franchise is treated as the debtor in this deal.
  • Miller is owed an account receivable of $18000
  • A common example is water and electricity bills.
  • Such goods are supplied before they are paid for.
8 0
3 years ago
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