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
Nataly_w [17]
2 years ago
10

Sarah buys a car for $15,000 on January 1 using a three-year loan at 6% annual interest, compounded monthly. The loan must be pa

id off in equal monthly installments, paid at the end of each month. Determine her monthly payment. (Hint: Use the PMT function.)
Business
1 answer:
Helga [31]2 years ago
5 0

Answer:

$456.33

Explanation:

Loan Amount = $15,000

Down payment = $0

Annual Rate = 6%; Monthly rate = 6%/12 = 0.50%

Years = 3; No of month = 3*12 = 36

Monthly payment = PMT(Rate, N, -Loan)

Monthly payment = PMT(0.50%, 36, -15,000)

Monthly payment = $456.3290618

Monthly payment = $456.33

Thus, her monthly payment for the loan is $456.33

You might be interested in
What do you mean by public service?​
Inessa05 [86]

A public service is something provided by the government or another official entity for the benefit of all members of a society or community, such as health care, transportation, or garbage management.

Any service designed to meet the specific needs of the total population of a community is considered a public service. People who live in a government jurisdiction can access public services directly from public sector organizations or through public financing of private companies or nonprofits (or even as provided by family households, though terminology may differ depending on context). Other public services are provided on behalf of or in the best interests of the citizens of a government. The phrase refers to a social consensus .

Learn more about  public service here.

brainly.com/question/28161669

#SPJ1

6 0
1 year ago
What's the difference between everyday activities and projects
Wittaler [7]
Projects are a frequent part of business. They differ from routine activities in that they usually have a narrow focus, specific deadline and may occur only once or infrequently. Some project types recur but differ in their goals. I hope it helps !
4 0
3 years ago
If the money supply is​ $500 and nominal income is​ $3,000, the velocity of money is A. ​1/60. B. ​1/6. C. 6. D. 60.
algol [13]

Answer:

The correct option is c.6

Explanation:

For computing the velocity of money, the following formula should be used which is shown below:

The Velocity of money = Nominal income ÷ money supply

where,

Nominal income is $3,000

and, the money supply is $500

Now put these values to the above formula so that we can find out the answer

So, the answer would be equal to

= $3,000 ÷ $500

= 6

Thus, the velocity of money is 6

Hence, the correct option is c.6

5 0
3 years ago
A gourmet coffee shop in downtown San Francisco is open 200 days a year and sells an average of 76 pounds of Kona coffee beans a
Slav-nsk [51]

Answer:

Explanation:

Base on the scenario been described in the question, we use the following method to solve the question

d = 75 lbs/day 200 days per year

D= 15,000 lb/year H= $3/lb/year S= $16/order

6 0
3 years ago
Payton, Inc.'s charter authorized 100,000 shares of stock with a par value of $1 per share. Payton issues 100 shares at a market
hoa [83]

Answer:

Common stock and $100

Explanation:

The journal entry is shown below:

Cash Dr $500   (100 shares × $5)

     To Common stock $100  (100 shares × $1)

     To Additional paid in capital in excess of par value - common stock  (100 shares × $4)

(Being the issuance of the common stock is recorded)

For recording this we debited the cash as it increased the assets and credited the common stock and additional paid in capital as it increased the stockholder equity    

6 0
3 years ago
Other questions:
  • _____ integrates advertising of branded products into interactive games.
    5·1 answer
  • Venus Inc., a producer of high-end computer software, provides merchandising aids to its distributors in the form of interactive
    11·1 answer
  • If a nation is going to achieve and sustain a high rate of economic growth, it must prohibit low-wage foreign producers from sup
    8·2 answers
  • Marketers use persuasive communications and product distribution in an effort to make sure its market is _______.
    8·1 answer
  • The current sections of Culver Corporation's balance sheets at December 31, 2021 and 2022, are presented here. Culver Corporatio
    7·1 answer
  • Joe is an accountant and plans to join a group of accountants. he compares a group in a general partnership with a group in a li
    5·1 answer
  • In supermarket retailing, _____ percent of endcaps should be unadvertised "sale" items that will cause the customer to be alert
    9·1 answer
  • One employee is in charge of the following activities at a drive-through of a bank: Activity Activity Time per Customer Greet cu
    10·1 answer
  • Lang Co. issued bonds with detachable common stock warrants. Only the warrants had a known market value. The sum of the fair val
    14·1 answer
  • A sales associate has been hired to write blog posts that will be regularly published on a blog about new beauty products. The b
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!