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Dominik [7]
3 years ago
12

Mary Smith took a car loan of $25,000 to pay back in 48 monthly installments at an interest rate of 8%. Compute the loan balance

immediately after the 32th payment. Group of answer choices $11,937 $9,233 $12,500 $9,765
Business
1 answer:
Naya [18.7K]3 years ago
5 0

Answer:

$9,233.

Explanation:

The balance of the loan after the 32th payment can be determined after constructing a loan amortization schedule for this car loan. To construct the amortization schedule, we need to first calculate the monthly instalments (PMT) as this is the missing parameter for our time value of money.

I am using a financial calculator here to calculate the monthly instalment :

PV = $25,000

P/YR = 12

I = 8%

N = 48 (years)

FV = $0

PMT = ?

Therefore, the monthly instalment PMT is  $610.32.

But, we need the balance immediately after the 32th payment, so we construct an amortization schedule - now that we have all the parameters.

On a financial calculator enter 1 INPUT 32, SHIFT AMORT.

Pressing the equal sign gives the principle then interest and finally the balance of this loan after the 32th payment. The balance you should get if you follow this procedure carefully is $9,233.

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kkurt [141]

Answer:

Presence or threat of trade barriers

Explanation:

If a company sees that a specific country has a presence or threat of trade barriers, the company will prefer to invest directly in foreign companies, instead of exporting.

This is because trade barriers, like tariffs or import quotas, will likely reduce the potential revenue that the company would get from exporting. It could reduce revenue so much as to make the company lose money.

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In order to hold a hearing, the Superintendent must give how many days notice to the producer being investigated?
lorasvet [3.4K]
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2 years ago
In a purchases-payables computer system, a purchase order is created after which document has been processed?
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In a purchases-payables computer system, a purchase order is created after which document has been processed?
5 0
3 years ago
Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for
Reika [66]

Answer and Explanation:

The computation of the amount is shown below:

a. For FOB destination

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= $6,700 - $1,750 - ($6,700  - $1,750 )× 2%

= $6,700 - $1,750 - $99

= $4,851

b. For FOB shipping point

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7 0
3 years ago
Suppose the value of owning a first car is worth $30,000 to you, and the value of owning a second car is worth $24,000 to you. S
VLD [36.1K]

Answer:

No, the second car shouldn't be purchased.

Explanation:

After buying the first car, when second car is to be brought the marginal benefit is lower than marginal cost. So, only one car should be brought.

6 0
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