1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gala2k [10]
2 years ago
6

Jeffries & Sons is borrowing $95,000 for four years at an APR of 7.05 percent. The principal is to be repaid in equal annual

payments over the life of the loan with interest paid annually. Payments will be made at the end of each year. What is the total payment due for Year 3 of this loan?A) $28,224.90B) $27,098.75C) $25,424.38D) $30,447.50E) $28,773.13
Business
1 answer:
kati45 [8]2 years ago
8 0

Answer:

correct option is B) $27,098.75

Explanation:

given data

borrowing =  $95,000

APR = 7.05 percent

to find out

total payment due for Year 3

solution

we will apply here formula for total payment due for Year 3  that is express as

total payment due for Year 3   = \frac{principal}{4} + \frac{principal}{4*2*rate}     .............1

put here value

total payment due for Year 3   = \frac{95000}{4} + \frac{95000}{4*2*0.0705}  

total payment due for Year 3   = $27098.75

so correct option is B) $27,098.75

You might be interested in
What business approach has enabled walmart to drive prices down and react to market conditions more quickly?
oee [108]

Answer:

C) Supply chain management system

Explanation:

Supply Chain Management (SCM) includes all processes that transform raw materials into final products in order to maximize customer value and gain a competitive advantage in the marketplace. SCM covers everything from production to product development to the information systems needed for the best management.

The supply chain cycle of Wal-Mart includes procurement, manufacturing, distribution, retailing. As a retailer, Wal-Mart has to source its products from vendors domestically and globally, this creates a more effective supply chain that allows for lower prices.

3 0
3 years ago
Read 2 more answers
Peyton’s Palace has net income of $15 million on sales revenue of $130 million. Total assets were $96 million at the beginning o
Lelechka [254]

Answer:

See below

Explanation:

1. Returns on assets

= Annual net income ÷ Average total assets

Average total assets = beginning asset + ending assets ÷ 2

= ($80 million + $88 million) ÷ 2

= $84 miiliom

Return on assets = $13.4 million ÷ $84 million

Return on assets = $159.52

2. Profit margin

= Net income ÷ Net sales

= $13.4 million ÷ $114 million

= 11.75%

3. Assets turnover ratio

= Net sales ÷ Average total assets.

Recall Average total assets = $84 million

Average turnover ratio

= $114 million ÷ $84 million

= 1.36 times

5 0
3 years ago
Vance has a vested account balance in his employer-sponsored qualified profit-sharing plan of $40,000. He has two years of servi
Maurinko [17]

Answer: $5,000

Explanation:

Per the requirements of qualified plans that permit loans, the maximum amount that an individual can withdraw is whichever is lesser between $50,000 and 50% of their Vested Account Balance.

Vance in this scenario has a vested account balance of $40,000.

50% of that would be $20,000.

That means that he can be loaned $20,000. However, he already has an outstanding loan balance that must be accounted for of 15,000.

Subtracting those figures we have,

= 20,000 - 15,000

= $5,000

The maximum loan that Vance can take from the qualified plan is $5,000

7 0
3 years ago
Currency (paper money plus coins) constitutes about: ____________
kirza4 [7]

Answer:

a. 57 percent of the U.S. M1 money supply.

7 0
2 years ago
Question 1 with 1 blankA man pulling a garage bag out of a can in a kitchen. Ramón Question 2 with 1 blankA woman in a bedroom p
qaws [65]

Explanation:

The following is contextual translation of the <em>English</em> sentences to Spanish sentences:

Question 1:

Un hombre sacando una bolsa de garaje de una lata en una cocina.

Question 2:

Una mujer en un dormitorio poner una hoja en una cama.

Question 3:

Un hombre de pie en una sala de estar aspirando una alfombra.

Question 4:

Una mujer en un estudio desempolva un escritorio con un paño.

8 0
3 years ago
Other questions:
  • A registered representative invites 20 institutional clients to a seminar and allows each client to bring one guest. The sales s
    9·1 answer
  • The authors argue that what we need is "expeditionary economics." this, they say, can shift afghanistan's production possibiliti
    14·2 answers
  • How can technology interfere with good study habits? Students can use technology to search for answers to challenging questions.
    14·1 answer
  • RUSTON COMPANY Balance Sheet As of January 24, 2018 (amounts in thousands)Cash 9,000 Accounts Payabe 1,200Account Receivables 3,
    5·1 answer
  • Your discount brokerage firm charges $7.95 per stock trade. how much money do you need to buy 200 shares of pfizer, inc. (pfe),
    9·1 answer
  • Fine dining, also known as white tablecloth dining, is an example of _____.
    11·1 answer
  • Sharmer Company issues 5%, 5-year bonds with a par value of $1,000,000 and semiannual interest payments. On the issue date, the
    9·1 answer
  • Accompanying a bank statement for Santee Company is a credit memo for $15,120 representing the principal ($14,000) and interest
    11·1 answer
  • Please help!!!!!!
    11·1 answer
  • Employees who record and are paid for the exact amount or time spent working are paid on
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!