Based on the payment you can afford, the interest rate, and the number of years, the loan you can afford is $6,774.15
<h3>What size of a loan can you afford?</h3>
First find the monthly interest rate:
= 4% /12
= 1/3%
Number of periods:
= 3 x 12
= 36 months
The loan you can afford can be found as:
= Payment x ( 1 - (1 + rate) ^ -number of periods) / rate
= 200 x (1 - (1 + 1/3%)⁻³⁶) / 1/3%
= $6,774.15
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Monopolists can increase the amount of output and sell easily because they are in no competition, the revenue is also great as their is no competition the price charged is not challenged by any other organization.
<h3>What is Monopoly?</h3>
Monopoly is when there is no competition in the market and the seller is the sole seller of the product or service and therefore all the customers in the market purchase products or services from the said organization.
The organization can charge any price for the products or services as there is no competition the prices are not challenged by the other organizations as the sole seller of the commodity is the organization and this sole seller in the entire market is called a monopoly business.
It is difficult to be in a competitive environment but it is comparatively easier being a monopolist.
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Answer:
$351,250
Explanation:
Computation for the amount of cash received for September
September cash sales $73,750
(25% × $295,000)
August credit sales $277,500
(75% × $370,000)
Cash collected in September $351,250
($73,750+$277,500)
Therefore the amount of cash received for September will be $351,250
Answer:
$9,542
Explanation:
A loan is amortized by the equal annual payment, each payment is sum of the two payment made against the principal and interest for the period on due balance.
The Equal Payment of $15,142 includes the payment of interest for the period and Principal.
The Principal Payment is the net of Payment made and Interest expenses in the period.
Principal portion = $15,142 - $5,600 = $9,542
The principal will be reduced by $9,542.
