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
kicyunya [14]
2 years ago
12

Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those pre

sented here. For long-term loans, the differences may be pronounced. Assume that you take out a $2000 loan for 30 months at 9% APR. How much of the first month's payment is interest
Business
1 answer:
zloy xaker [14]2 years ago
5 0

Answer:

the  first month payment of interest is $74.70

Explanation:

The computation of the first month payment of interest is shown below

Given that

PV = $2,000

NPER = 30

RATE = 9% ÷ 12 = 0.75%

FV = $0

The formula is given below:

= -PMT(RATE;NPER;PV;FV;TYPE)

After applying the above formula, the monthly interest payment is $74.70

hence, the  first month payment of interest is $74.70

You might be interested in
Max is a chef at a local restaurant. He's making a broth and wants it to have a rich, roasted flavor. Max should add _______ to
Evgen [1.6K]
D. orignon brule to add 
7 0
3 years ago
Read 2 more answers
Barriers to International Trade Countries often use various government regulations to manipulate the amount of goods and service
lisabon 2012 [21]

Answer: Please refer to Explanation

Explanation:

1. Embargoes and sanctions

When a trade embargo or sanctions are in play, depending on the strength of the nation or International organisation that imposed it, countries are not allowed to trade with the country that is under an embargo. Sometimes the trade embargo can be on all products and sometimes just specific sectors are targeted. An example is the current United States embargo on Venezuela which targets their oil sector and as such most countries are avoiding buying Venezuelan oil.

2. Tariffs

This is a method of reducing the amount of a certain good imported from outside. Tariffs are usually introduced to protect the domestic producers and supplier in an economy and work by taxing imports or placing a customs duty on them. They are usually imposed when the imports are cheaper than domestic Production.

3. Import Quota

Another way to protect the domestic economy. In this scenario, a country allows the import of a certain good only up to an extent for a period which is usually a year. For instance, the United States in this scenario could say that in 2020 only 500 megatons of Aluminum are allowed into the country from China. After that, no more is allowed until 2021.

4. Tariff.

This is a Tariff and as earlier explained, is meant to protect the domestic producers by taxing imports that are cheaper.

5. Import Quota.

This is clearly an import Quota as earlier described because the country is limiting the amount of a certain good that can come into it.

6. Embargoes and Sanctions.

This is a clear example of an embargo. The United States is limiting the amount of goods exported to North Korea because they are under sanctions and embargoes. The United States and Western nations do not want to export anything to North Korea that could aid it's Nuclear Industry so it is a targeted embargo on their nuclear industry.

4 0
3 years ago
6. Suppose that the returns on the stock fund presented in Spreadsheet 6.1 were 240%, 214%, 17%, and 33% in the four scenarios.
Basile [38]

Answer:

Explanation:

Base on the scenario been described in the question, stock variance refers to the volatility that arises from the average. Volatility shows the degree of risk that will be helpful in determining the level of risk an investor should take while purchasing a particular security.

5 0
3 years ago
Lilly Ann went to the pet store with her mother to buy a gerbil. After choosing her gerbil, she and her mother went to look at c
iogann1982 [59]

Answer:

The answer is "b" - Customization

Explanation:

<u>Product Customization</u> is a process of delivering customized goods and services to the customers as per their needs and desire. Customers can either approach a merchant to make certain customizations in a product or personalize the products themselves, exactly the way they want.

It is also known as product personalisation. This is evident in the given situation, as Lilly Ann can customize the cage according to her own preferences.

<u>Standardization</u>

  • Product standardization refers to the process of maintaining uniformity and consistency among the different iterations of a particular good or service that are available in different markets.
  • It is a process of marketing a good or service without making any changes to it
  • Standardization would be correct, if they brand offers the cage without any changes.

<u>Mass customization:</u>

  • Mass customization is a marketing and manufacturing technique which combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production.
  • Other names for mass customization include made-to-order or built-to-order.

<u>Mass production:</u>

  • Mass production is the manufacturing of large quantities of standardized products, often using assembly lines or automation technology.
  • Mass production facilitates the efficient production of a large number of similar products.

<u>Modular design:</u>

  • Modular design is a design approach that creates things out of independent parts with standard interfaces.
  • This allows designs to be customized, upgraded, repaired and for parts to be reused.
7 0
3 years ago
Internet access to use online banking costs you $39.99 per month. A book of checks costs you $17.95 per 100. Your bank charges y
algol [13]

Answer:

$21.9275

Explanation:

The cost of online banking is $39.99

The cost of checks books is $17.95 per 100. The cost associated with 25 checks

= $17.25/100 x 25

=0.1725 x 25

=$4.3125

The cost of a stamp is 50 cents, which is $0.50

for 25 checks

=$0.50 x 25

=$12.5

The writing fee

=$0.05 x 25

=$1.25

Total cost of using checks

= $4.3125 + $12.5 +$1.25

=$18.0625

the difference between online banking and checks

= $39.99 - $18.0625

=$21.9275

6 0
3 years ago
Other questions:
  • Walmart is thinking about offering a 25% discount on a brand of shoes. If the elasticity of demand is two, then the discount wou
    13·1 answer
  • Valuing assets at their fair value rather than at their cost is inconsistent with the: periodicity assumption. full disclosure p
    12·1 answer
  • PL Inc. implements an information system to improve its supply chain. The system helps the organization to reduce wastes and opt
    9·1 answer
  • Sometimes labor unions try to increase the demand for the product they produce. They do so because the demand for labor is deriv
    14·1 answer
  • A company making tires for bikes is concerned about the exact width of its cyclocross tires. The company has a lower specificati
    14·1 answer
  • Pollution from a factory that produces cleaners is a(n) _____ of the production process.
    13·1 answer
  • Which of the following persons trade for their own account on the floor of an options exchange?
    10·1 answer
  • Your first job is in hotel management and recently you were promoted to Hotel Manager for a large convention hotel in downtown N
    6·1 answer
  • Compulsory school attendance laws and the great expenditures for education both demonstrate our recognition of the importance of
    7·1 answer
  • _____ are stories about a person’s life written by that individual.
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!