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Archy [21]
2 years ago
7

You can buy a computer with your credit card and pay for it over the course of one year. With an interest rate of 16 percent, yo

u would need to pay $181.46 for 12 months to pay off the charge. You can rent the computer for 12 months for $200 per month and, at the end of the rent period, buy it for $300. How much will you save by purchasing the computer with your credit card instead of using the rent-to-own plan?
Business
1 answer:
iragen [17]2 years ago
6 0

Answer:

you can save $522.48 by purchasing the computer with the credit card

Explanation:

total money paid to the credit card company = $181.46 x 12 = $2,177.52

total money paid for renting the computer = $200 x 12 = $2,400, plus the final payment = $2,400 + $300 = $2,700

money saved by using the credit card = $2,700 - $2,177.52 = $522.48

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A consultant predicts that there is a 25 percent chance of earning $500,000 and a 75 percent chance of earning $100,000. The exp
antiseptic1488 [7]

Answer:

$173,205

Explanation:

According to the scenario, computation of the given data are as follows:

Given data:

Earning (X1) = $500,000

Chances of X1 (Y1) = 25%

Earning (X2) = $100,000

Chances of X2 (Y2) = 75%

Expected Profit (Z) = $200,000

Formula for solving the problem are as follows:

Standard deviation = [ (X1 - Z)^2 × Y1 + (X2 - Z)^2 × Y2 ]^1/2

By putting the value in the formula, we get

Standard deviation = [ ($500,000 - $200000)^2 × 0.25 + ($100,000 - $200,000)^2 × 0.75 ]^1/2

= [ $22,500,000,000 + $7,500,000,000 ]^1/2

= ($30,000,000,000)^1/2

= $173,205.08 or $173,205

Hence, $173,205 is the correct answer.

6 0
3 years ago
Select the correct answer from each drop-down menu. What is the basis for the calculation of interest payable by various financi
arlik [135]

Answer:

The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.

Explanation:

Financial institutions is a company or a firm that deals with financial and monetary activities such as; loans, deposits, investments and currency exchange. Most financial transactions especially loans and savings usually have an interest rate that is set by the financial institution. The amount of interest can be paid by the borrower in a case where an individual takes a loan from the financial institution. Interest can also be paid by the financial institution in a case where the individual or group opens a savings account with the financial institution. In both cases, the interest rate is set by the financial institution. The amount of interest payable can be determined using the formula below;

A=PRT

where;

A=amount of interest payable

P=principle amount. The principal amount can either be the loan amount or the savings deposit amount

R=interest rate

T=number of years

The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.

3 0
3 years ago
Liz planned on opening a handmade quilt business in her hometown. However, after completing a/an _______, she decided to start w
Hatshy [7]
Either B or D. A and C do not make sense. I think it is B, but i do not know
5 0
3 years ago
Read 2 more answers
Are the following statements true or false? The difference between savings and investments is that savings is money set aside fo
grigory [225]

Answer:

That statement is true.

Explanation:

Basically, You put your money in saving if you intended to use that money for future consumption. You put your money in investment if you intended to make financial gain out of it.

For example,

Let's say that you want to buy a laptop that cost $700. You only able to spend $350 per month since you have to consider other more important payment such as rent or food. So you set aside $350 for two month and purchase the laptop at the end of the second month. This is an example of saving.

In another case let's say that you put that $350 in Bonds rather than purchasing laptop. You Let that bond mature and take a 3% interest as profit. Two month later, the value of your money is increased. This is an example of an investment.

8 0
2 years ago
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Insurance can help you: A.minimize monthly expenses B.financially protect against unexpected accidents C.reduce the chances of g
Hitman42 [59]
<span>B.financially protect against unexpected accidents definitely the answer.</span>
6 0
2 years ago
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