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3 years ago

Why would you want to offer a down payment on an item such as a car or a house?

Business

2 answers:

Aliun [14]3 years ago

8 0

Answer:

A down payment helps the buyer to obtain ownership of the property or vehicle and also helps them to reduce the monthly payment towards the mortgage principal and interest. The buyer can get a lower interest rate by paying a higher down payment.

CaHeK987 [17]3 years ago

3 0

When you buy expensive items with a loan, you often need to make a down payment to cover a portion of the purchase price. That initial payment is often critical for getting approved, and it can affect your borrowing costs throughout the life of your loan. As a result, it’s wise to understand how down payments work so you can choose the right down payment amount.

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For the past year, Momsen, Ltd., had sales of $46,382, interest expense of $3,854, cost of goods sold of $16,659, selling and ad

Ivenika [448]

Answer:

Net income= $11,412.2

Explanation:

Giving the following information:

sales of $46,382

interest expense of $3,854

cost of goods sold of $16,659

selling and administrative expense of $11,766

depreciation of $6,415

t=0.35

We need to use the following formula:

Net income= (sales - COGS - selling and administrative expense - interest expense - depreciation) - tax + depreciation

First, we deduct Depreciation to decrease the tax base, but because it is not an actual payment, we have to sum it after tax.

Sales= 46,382

COGS= (16,659)

Gross profit= 29,723

Selling and administrative expense= (11,766)

Interest=(3,854)

Depreciation= (6,415)

EBT= 7,688

Tax= (7,688*0.35)= (2,690.8)

Depreciation= 6,415

Net income= $11,412.2

6 0

3 years ago

A promising new customer at a FINRA member firm has complained verbally to a registered representative that he lost $500 on the

GaryK [48]

Answer:

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Explanation:

4 0

3 years ago

Cheese is a complement for hamburgers. If the price of hamburgers rises, the quantity of hamburgers demanded , which the demand

12345 [234]

Answer:

Cheese is a complement for hamburgers. If the price of hamburgers rises, the quantity of hamburgers demanded will fall, which will lead to a fall in the demand for cheese, as cheese and hamburgers are complements to each other. A rise in price of a complementary good will lead to a fall in demand for the complementary good as well. Because of the change in demand for cheese the equilibrium quantity of cheese will fall and the equilibrium price for cheese will also fall, the demand for milk by cheese producers will decline, causing the equilibrium price of milk to fall. This means producers of butter face lower input prices and the supply of butter will rise. The resulting decline in the price of butter causes people to substitute jam for butter, so the demand for jam will decline.

3 0

3 years ago

Lenovo, the chinese computer manufacturer, is a corporation where it is difficult to identify one country as the home country. l

baherus [9]

The answer to this question is a "Stateless Corporation". Lenovo, a known and a big time Chinese computer manufacturer that sells their product in different part of the globe is a corporation where it is difficult and hard t be identified in one country as their home country. Then this Lenovo computer company can be described and called as a stateless corporation.

7 0

3 years ago

TTG Landscaping purchased a dump truck for $150,000. In addition, they spent $12,000 in sales tax, $200 to paint the company’s l

Darina [25.2K]

Answer:TTG Landscaping Journal $

1.Dump truck Dr 150,000

Sales tax Dr 12,000

Logo. Dr. 200

Vehicle License Dr 900

Accident insurance Dr 2400

Cash. CR. 165,500

Narration. Being cost incurred on Dump truck and additional expenses incurred to make it usable.

Dump truck Dr1 5500

Sales tax Cr 12,000

Logo. Cr. 200 Vehicle License Cr. 900

Accident insurance. CR 2400

Narration. Transfer of additional cost incurred on Dump truck purchase to Dump truck Accounts

The cost of an asset includes the purchase price, tax theron and other cost incurred to make it usable.

8 0

3 years ago

Why would you want to offer a down payment on an item such as a car or a house?​

Why would you want to offer a down payment on an item such as a car or a house?