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SVETLANKA909090 [29]
3 years ago
11

Assume that you finance a new car when you graduate. It will cost $120,000 and you will finance it with a 84 month contract havi

ng a nominal rate of 9.20% Compute the monthly payment to the second decimal place.
Business
1 answer:
shusha [124]3 years ago
6 0

Answer: $1942.89

Explanation:

Since the car will cost $120,000 and it will be financed with a 84 month contract having a nominal rate of 9.20%, then the monthly payment will be:

= PMT(9.2%/12, 84, -120000)

This will be slotted into the Excel calculator and the answer gotten will be $1942.89

Therefore, the monthly payment will be $1942.89.

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Demand for a specific design of dinning sets has been fairly large in the past several years and Statewide Furnishings, Inc. usu
Harlamova29_29 [7]

Answer:

e. None of the above

Explanation:

Annual demand, D = 600 units

Ordering cost, S = $400

Holding cost, H = $50

Economic order quantity without stock-out = SQRT(2*D*S/H)

Economic order quantity without stock-out = SQRT(2*600*400/50)

Economic order quantity without stock-out = 98

Total annual ordering cost = (D/Q)*S + (Q/2)*H

Total annual ordering cost = (600/98)*$400 + (98/2)*$50

Total annual ordering cost = $2,448.97 + $2,450

Total annual ordering cost = $4,898.97

8 0
3 years ago
Sergey bought two shares of a stock at $22 each in early January 2018. At the end of a year he earned $2 dividend on each one. B
Ipatiy [6.2K]

Answer: 10.79%

Explanation:

Based on the information given, the return in year 1 will be:

= (22.5 + 2)/21 - 1

= 1.1136 - 1

= 0.1136

= 11.36%

The return in year 2 will be:

= (22.8 + 2)/22.5 - 1

= 1.1022 - 1

= 0.1022

= 10.22%

Therefore weighted return will be:

= (11.36% + 10.22%)/2

= 21.58%/2

= 10.79%

6 0
3 years ago
Joji is a 37-year-old married business owner. He runs a dry cleaning service with three locations in Toledo, Ohio. His personal
Tems11 [23]

Answer:

a

Explanation:

6 0
3 years ago
Cooper Law Offices has the following source document from one of its suppliers: Allen Office Supplies Description Quantity Price
garik1379 [7]

Answer:

Debit Supplies; Credit Accounts Payable for $2,700

Explanation:

Calculation to determine What should Cooper record on the date of the purchase

Based on the information given since the TOTAL OFFICE SUPPLIES is the amount of $2,700 calculated as Legal paper $1,500+ Ink cartridge $1,200 which means that the appropriate journal entry that Cooper should record on the date of the purchase will be :

Debit Supplies $2,700

Credit Accounts Payable $2,700

($1,500+$1,200)

(To record office Supplies)

8 0
3 years ago
On January 1 of the current year, the Queen Corporation issued 7% bonds with a face value of $76,000. The bonds are sold for $73
babunello [35]

Answer:

$5,776

Explanation:

the journal entry to record the issuance of the bonds:

January 1, 202x

Dr Cash 73,720

Dr Discount on bonds payable 2,280

    Cr Bonds payable 76,000

coupon = $76,000 x 7% x 1/2 = $2,660

discount on bonds payable per coupon = $2,280 / 10 = $228

Journal entry to record coupon payment:

June 30 and December 31, 202x

Dr Interest expense 2,888 x 2 = 5,776

    Cr Cash 2,660 x 2 = 5,320

    Cr Discount on bonds payable 228 x 2 = 456

3 0
3 years ago
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