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
nadya68 [22]
3 years ago
5

. Sam Rothstein wants to borrow $15,500 to be repaid in quarterly installments over five years at 16% compounded quarterly. How

much will his payment be
Business
1 answer:
Alborosie3 years ago
7 0

Answer:

$1,140.52 per Quarter

Explanation:

Loan Amount (P) = $15,500

Quarterly Interest Rate (n) = 4.00% [16.00% / 4]

Number of period (n) = 20 Periods [5 * 4]

Quarterly Loan Payment = [P * {r*(1+r)^n} ] / [(1+r)^n - 1]

= [$15,500 * {0.04 * (1+0.04)^20}] / [(1+0.04)^20 - 1]

= [$15,500 * {0.04 * 2.1911231}] / [2.1911231 - 1]

= [$15,500*0.0876449] / 1.1911231

= $1,358.50 / 1.1911231

= $1,140.52 per Quarter

You might be interested in
Oil creek auto has sales of $3,740, net income of $274, net fixed assets of $2,800, and current assets of $920. the firm has $63
Montano1993 [528]

An income statement that expresses each line item as a percentage of a base amount is known as a common-size income statement

<h3>What is common-size statement?</h3>

An income statement that expresses each line item as a percentage of a base amount is known as a common-size income statement. Typically, this refers to overall earnings or total sales. Financial ratio analysis's objective is comparable to that of a common-size income statement. Items are shown as a percentage of a common base amount, such as total sales revenue, in a financial statement of common size. This kind of financial statement makes it simple to compare one company to another or different time periods within the same company.

The common-size statement refers to expressing each value as a percent of sales:

Sales                 3,340                   100.000%

income                 274                     8.234% (274 divided by 3340 times 100)

fixed assets          2,699               80.809%

current assets         836                25.030%

Inventory               417                0.12485  (417/3,340)

To learn more about common-size statement refer to:

brainly.com/question/14275288

#SPJ4

5 0
2 years ago
The Dawson Company manufactures small lamps and desk lamps. The following shows the activities per product and the total overhea
Aleks [24]

Answer:

The total factory overhead to be charged to the desk lamps is $235,000

Explanation:

solution attached below

8 0
3 years ago
How long can foodborne illnesses last
Helga [31]

Answer: Symptoms begin 2 to 10 days after becoming infected, and may last 1 to 2 weeks.

Explanation:

3 0
3 years ago
Five friends are going to the theater. they have purchased a row of five seats with an aisle on either end. james doesn't want t
Mandarinka [93]
Jill, Betty, Herb, James, Bob
7 0
3 years ago
During 2020, $830000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurre
Schach [20]

Answer:

Waterway Industries's total manufacturing costs incurred in 2020 amounted to $2,140,000

Explanation:

The computation of the total manufacturing cost is shown below:

= Raw material + Direct labor cost + Manufactured overhead cost

= $830,000 + $670,000 + $640,000

= $2,140,000

Thus, the total manufacturing cost is comprised of direct raw material, direct labor cost, and the manufacturing overhead cost. That's why we add these three costs.

4 0
3 years ago
Other questions:
  • Nico is buying a home for $625,000. His earnest money deposit is 8%. He wants to avoid private mortgage insurance (PMI) on his c
    13·1 answer
  • An increase in input costs in the production of electric automobiles caused the price of electric automobiles to rise. Holding e
    7·1 answer
  • A company is trying to systematically improve processes by eliminating non-conformity of their products to product specification
    14·1 answer
  • Beginning stockholders' equity was $120,000. Ending stockholders' equity was $195,000. Additional issuances of capital stock dur
    14·1 answer
  • Tom, angela, and peter want to become co-owners of a business enterprise. compare their personal liability for the debts incurre
    5·1 answer
  • Rose worked for Parr Manufacturing as an at-will employee. When she began her employment, she worked with plastisol, a chemical
    9·1 answer
  • What methods can you use for setting the price? What tools are available for measuring the impact on your price decision?
    6·1 answer
  • Cashews, Inc. issued $100,000, 6% bonds at face value on January 1. The bonds pay interest semiannually on June 30 and December
    11·1 answer
  • With regards to interpretation, what are the important areas that appear on a cvp graph?.
    6·1 answer
  • What makes a business unique
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!