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
alisha [4.7K]
3 years ago
14

The manager of a manufacturing company knows that they will need a new machine in one of their factories. The new machine will c

ost them $12,500. The manager has determined that they can afford to pay 15% of the cost of the machine in cash. They can then finance the rest through a credit union. The credit union will charge 1% per year compounded monthly. How much are their monthly payments for 3 years
Business
1 answer:
s2008m [1.1K]3 years ago
4 0

Answer:

The company will make monthly payments of $299.71 for three years.

This means a total payments of $10,789.60 after the 36th month with an interest charge of $164.60.

Explanation:

a) Data and Calculations:

Cost of new machine = $12,500

Down Payment 15%  =       1,875

Amount financed through a credit union = $10,625

Interest rate charged by the credit union = 1% per year compounded monthly.

From an online finance calculator:

Monthly Payment = $299.71

Sum of all periodic payments = $10,789.60

Total Interest = $164.60

You might be interested in
There are four major categories with examples that provide a useful way for examining logistics and supply chain performance: Th
mr Goodwill [35]

Answer:

Quality

Explanation:

Logistics and supply chain management performance is best evaluated by examining time required to carry out task, the quality of task at hand, the cost to be expended and the supporting metric.

4 0
4 years ago
Read 2 more answers
You just celebrated your first full year in business. You earned
son4ous [18]

Answer:

I think its #1 bro i don't know

6 0
3 years ago
Theresa Teutul was an executive with Digital Industries, a leading manufacturer of color televisions. She recognized that the co
vladimir1956 [14]

Answer:

The options for this question are the following:

a. Star

b. Cash Cow

c. Question Mark

d. Dog

e. None of these

The correct answer is b. Cash Cow .

Explanation:

The cash cow is a metaphor for a cash cow that produces milk throughout its life and requires little maintenance. A cash cow is an example of a cash cow, since after the initial capital outlay has been paid, the cow continues to produce milk for many years. These cash generators can also use their money to repurchase shares in the market or pay dividends to shareholders.

A cash cow is a company or business unit in a mature, slow-growing industry. Milk cows have a large market share and require little investment. For example, Apple (NASDAQ: AAPL) is considered a cash cow because it has established a well-defined niche in wireless gadgets. The different Apple product lines generate cash for other business lines at the beginning of their life cycle. On the contrary, a star is a company or business unit that operates in a high-growth industry. Question marks are the problematic son of the BCG shared growth matrix. They operate in high-growth markets and require capital to grow, but the probability of success is unknown. Dogs do not require much cash, but due to age, they tend to absorb large portions of capital.

6 0
4 years ago
Below are the expected afterminustax cash flows for Projects Y and Z. Both projects have an initial cash outlay of​ $20,000 and
Alexus [3.1K]

Answer:

Project Y = -$1,825.80

Project Z = $4,148.00

Explanation:

Calculation are as attached in the file

5 0
4 years ago
Read 2 more answers
John, the owner of a lawn care service, likes to meet with his employees six months after their yearly evaluation to discuss how
Mariana [72]

Answer:

<em>Control</em>

Explanation:

The control cycle <em>is the incremental process in which tests are prepared, tracked, reviewed,  and updated. </em>

The control cycle is widely used to continually monitor organizational expenditures and  system flows.

The assumption when applying the control cycle to budgeting is that each subsequent iteration of  the budget will be changed based on the information obtained when comparing the initial budget with  actual results.

6 0
3 years ago
Other questions:
  • Why is budgeting so important?
    6·2 answers
  • Customer World provides products and services to customers and allows customers to pay by credit card. On Thursday, a customer p
    12·1 answer
  • Mid-American Oil had a contract with NSB Company to supply 1,000 gallons of oil by September 1. The contract contained a provisi
    13·1 answer
  • Bee Company is a honey wholesaler. An income statement and other data for the second quarter of the year are given below: Bee Co
    7·1 answer
  • What does a fractional reserve banking system mean?
    12·2 answers
  • You have just won a contest where the prize is either a new motorcycle, with an MSRP of $30000, or $20000 in cash. You do not ha
    9·1 answer
  • What are three connection methods for the globalprotect agent? (choose three.)?
    14·1 answer
  • Communicating with people you know or meet to share information or advice about a job defines _____.
    14·2 answers
  • What are the five economic lssues??​
    15·1 answer
  • _______ refers to determining what information is needed and how that information can be obtained efficiently and effectively. a
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!