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Alexeev081 [22]
3 years ago
7

You obtain a vehicle loan from the bank for $34,720 for a term of 4 years at an annual interest rate of 7.5%.  Use the amortizat

ion formula or a TVM calculator to determine monthly payments.​
Business
1 answer:
Alla [95]3 years ago
4 0

Answer:

TVM=34,720*0.075/12 : [1-(1+0.075/12)^-48]

TVM=839.49

Explanation:

An=34,720

t=4 yrs , ---> n=48 (4*12)

j=7.5 %.---> i=0.075/12

m=12

* i=j/m

*n=mt

TVM=An*i : [1-(1+i)^-n]

TVM=34,720*0.075/12 : [1-(1+0.075/12)^-48]

TVM =839.49 (round two decimal)

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3 years ago
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A company invests $40,000 in a project with the following net cash flows: Year 1: $3,000 Year 2: $8,000 Year 3: $14,000 Year 4:
hram777 [196]

Answer:

the payback period is 3.34 years

Explanation:

The computation of the payback period is as follow;

Given that

Year       Cash flows         Cumulative cash flows

0             -$40,000           $-40,000

1               $3,000              $3,000

2              $8,000              $11,000

3              $14,000             $25,000

4              $19,000             $44,000

5              $22,000            $66,000

6               $28,000           $94,000

Now the payback period is

= 3 years +  ($40,000 - $25,000) ÷ $44,000

= 3 years + 0.34

= 3.34 years

Hence, the payback period is 3.34 years

8 0
3 years ago
Jameson Corporation was organized on May 1. The following events occurred during the first month.
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Answer:

Answer:

Date     General Journal                Debit          Credit

a.           Cash                                 $70,000

                   Common stock                              $5,000

                   (5*100 shares * $10)

                   Additional paid - in - capital          $65,000

b.          No journal entry required       -                      -

c.           Cash                                  $18,000

                     Notes payable (long term)             $18,000

d.            Equipment                      $11,000

                      Cash                                                $1,500

                       Notes payable (Short term)          $9,500

e.             Notes receivable          $2,000

                       Cash                                                $2,000

f.              Store fixtures                $15,000  

                       Cash                                                 $15,000

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3 years ago
B was 42 when the life insurance policy was issued. 42 is referred to as the ______ age of the policy. A
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Because the assured is 42 when the life policy was issued, such age will be called an original age of the policy.

<h3>What is an original age?</h3>

In a life policy, an Original Age refers to the age of an insured at the inception of a life insurance policy.

Therefore, as the the assured is 42 when the life policy was issued, such age will be called an original age of the policy.

Read more about original age

<em>brainly.com/question/26386049</em>

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