Kids often are leading a checklisted childhood what does this mean

Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the res

dimaraw [331]

Answer:

Nominal interest rate = 12.23%

Explanation:

Given - Aerotron Electronics has just bought a used delivery truck for

$15,000. The small business paid $1,000 down and financed the

rest, with the agreement to pay nothing for the entire first year and

then to pay $526.83 at the end of each month over years 2, 3, and

4 (first payment is in 13th month).

To find - a. What nominal interest rate is Aerotron paying on the loan.

Proof -

As given ,

Price - $15,000

Down Payment - $1,000

⇒Loan Payment = $15,000 - $1,000

As given,

He will not pay for the entire first year. After that he will pay $526.83 for next 3 years.

Now,

Interest rate for 1 month = r %

So,

Loan after 1 year = 14,000( 1 + r)¹²

And

Annuity factor = $\frac{1}{r} - \frac{1}{r}. \frac{1}{(1+r)^{t} }$

and t = 3 years = 36 months

Now,

As we know,

Monthly loan payment = $\frac{Loan amount}{Annuity factor}$

⇒$526.83 = 14,000( 1 + r)¹² / $\frac{1}{r} - \frac{1}{r}. \frac{1}{(1+r)^{t} }$

By solving we get

r = 1.019%

Now,

Nominal interest rate = 1.019%×12 = 12.23%

7 0

3 years ago

Legally a corporation is a thing that can endure beyond the natural lives of its members and that has incorporators who may sue

Fed [463]

Answer:

A) True

Explanation:

A corporation is a distinct and separate legal entity from its owners. It enjoys commercials' rights and has obligations, just like a person does. Corporations transact business, can enter a contract, borrow money, sue, or be sued.

The most salient feature of a corporation is that its owners have limited liability. It means that the owners of a corporation are liable for its obligation up to the extent of their capital contribution. If a corporation is unable to meet its debts, the personal properties of its owners can not be attached to the liabilities.

Many corporations outlive their founders. The most famous companies were incorporated decades ago. A corporation is often described as a legal person. Its lifespan is not dependent on the lives of its owners.

7 0

3 years ago

Kimbeth Manufacturing uses a process cost system to manufacture dust density sensors for the mining industry. The following info

Lena [83]

Answer:

$6 per unit

Explanation:

using the weighted average method:

units completed 92,000 x 100% (both materials and conversion)

ending work in progress 24,000

materials 90% completed = 21,600
conversion 40% completed = 9,600

equivalent unit conversion costs = total conversion costs / total equivalent units of conversion

total conversion costs = $20,320 + $15,240 + $$182,880 + $391,160 = $609,600
total equivalent units of conversion = 92,000 + 9,600 = 101,600

equivalent unit conversion costs = $609,600 / 101,600 units = $6 per unit

4 0

3 years ago

Orion would like to go on a trip to Ireland in two years. He wants to have $3,000 for the trip, so he is planning to invest mone

denis-greek [22]

Answer:

The answer is: If Orion wants to have $3,000 in two years, he must invest $2,572.02 today

Explanation:

To determine how much money Orion has to invest today in order to have $3,000 in two years, considering he will get an 8% compound interest rate, we can use this formula:

P = FV / (1 + r)²

Where:

FV = $3,000
r = 8%

P = $3,000 / (1 + 8%)²

P = $3,000 / 1.1664

P = $2,572.02

4 0

3 years ago

Organizations using a matrix structure Multiple Choice

kherson [118]

Answer:

D. contain multiple overlapping command structures, in which all employees report to three or more managers.

Explanation: Matrix structure is a type of organisational structure used by some companies to accomplish some projects where juniors/subordinates engaged in the project will have to report to two bosses like the process owner and the project manager,in matrix their is an interlinked reporting pattern where a particular subordinate reports two or more bosses.

the main disadvantage of this structure is the problem of authority where subordinates may not be able to know who and how to report some issues.

7 0

3 years ago