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Murljashka [212]
3 years ago
10

You want to borrow $93,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,850, but no

more. Assuming monthly compounding, what is the highest APR you can afford on a 60-month loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate %
Business
1 answer:
Vlada [557]3 years ago
4 0

Answer:

The highest affordable APR is 7.192%.

Explanation:

A person wants to borrow $93,000 from local bank to buy a new sailboat.

The maximum affordable monthly payment or EMI is $1,850.

The loan period is 60 months.

Suppose, monthly interest rate = r

93000 = 1850\ \times\ \frac{ \frac{1\ -\ 1}{(1+r)^6^0}}{r}

At r =.6 %

Present value of loan repayment = $92984.94

At r=.5%

Present value of loan repayment = $95692.29

Through the method of interpolation,

r= .5% + ((95692.29 - 93000)/( 95692.29 - 92984.94))*(.6% - .5%)

r=.5994%

Annual interest Rate

= .5994%*12

= 7.192%.

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Ymorist [56]
The personal income is $700. 
GIven: 
Disposal personal income (dpi) = $800
Personal income taxes = $100

Solution:
Disposal personal income minus personal income taxes.
$800 - $100 = $700

So, the personal income or pi is equal to $700.
4 0
3 years ago
In 2022, internal auditors discovered that Axel Corp., had debited an expense account for the $2,090,000 cost of a machine purch
antoniya [11.8K]

Answer:

Debit Depreciation expense $570,000

Credit Accumulated depreciation $570,000

<em>(To record the accumulated depreciation for 3 years)</em>

Explanation:

Using a Straight-line depreciation method, depreciation expense = (Cost - Salvage value)/Estimated useful life

Depreciation expense = $2,090,000 / 11 years = $190,000 yearly

We would assume that the internal auditors detected the error at the beginning of Year 2022, so the accumulated depreciation for 3 years (Jan 2019 - Dec 2021) would be $190,000 x 3 years = $570,000

The following correctional entries will apply:

Debit Fixed asset - Machine $2,090,000

Credit Expense account $2,090,000

<em>(To appropriately record the purchase of machine)</em>

The required adjustment fot the accumulated depreciation is recorded above under the answer section.

3 0
3 years ago
Firms pursuing a ________ strategy focus on the realization of location and experience curve economies.
Kazeer [188]

Firms pursuing a global standardization strategy focus on the realization of location and experience curve economies.

<h3>What is a global standardization strategy?</h3>

The capacity to apply standardized marketing messaging and campaigns across markets, regions, and cultures is referred to as a global standardization strategy. Global standardization is used by the world's largest brands, such as Adidas and Coca-Cola, to offer a consistent brand experience across countries and languages.

For example, the Coca-Cola Company uses global standardization in marketing by keeping the product's presentation largely consistent throughout markets. Even though several languages are shown on the items, the corporation uses the same design motif.

These advantages include cost reduction, international price reduction, competitive decrease, market position consolidation, and promotion of a distinct international image.

To know more about global standardization strategy follow the link:

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1 year ago
Suppose your firm has a​ u-shaped average variable cost curve and operates in a perfectly competitive market. if you produce whe
Mariulka [41]
Go app so so so so so do
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3 years ago
China had a $214 billion overall current account surplus in 2012. Assuming that China’s net debt forgiveness was zero in 2012 (i
Pie

Answer:

The correct asnwer is $-214 billion.

Explanation:

A surplus occurs when an account exceeds the credit after having paid all its debts and obligations.

As the example says, assuming that China’s net debt forgiveness was zero in 2012, then the net balance of China's financial account balance would be -214 billion.

This means that China would be facing a deficit.

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Which causes China to have a<u> negative balance account.</u>

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