Which of the following statements is a benefit of including advertising as part

Jerryâ€™s loan had a principal of $22,000. He made quarterly payments of $640 for nine years until the loan was paid in full. Ho

kobusy [5.1K]

The amount Jerry paid in interest is $1,040.

The given details are:

Jerry's principal amount = $ 22,000,

quarterly payment for each quarter = $ 640

Total time for which Jerry paid each quarter = 9 years

As we know, one-year consists of nine quarters and therefore the nine years will consist of 36 quarters.

$\begin{aligned}\text{Total amount paid by Jerry}=\text{Quarterly payment} \times \text{No. of quarters}\end{aligned}$

$\begin{aligned}\text{Total amount paid by Jerry}={\$640} \times {36}\end{aligned}$

$\begin{aligned}\text{Total amount paid by Jerry}=\$23,040\end{aligned}$

Thus, the total amount paid by Jerry for nine years in each quarter is $23,040.

$\begin{aligned}\text{Amount of Interest}& = \text{Amount jerry paid} - \text{Principal Amount}\\\text{Amount of Interest}& = \$23,040-\$22,000\\\text{Amount of Interest} &= \$1040\end{aligned}$

Therefore, the correct option is b.

To know more about the calculation of the interest, refer to the link below:

brainly.com/question/16242041

8 0

3 years ago

Recommendation and conclusions you can make of xenophobia to the goverment

Katen [24]

The South African Congress of Nonprofit Organizations (SACONO) focuses on the anti xenophobia imbizo in Orlando, Johannesburg to evaluate modalities of re-integrating foreigners who were recently attacked by locals for supposedly grabbing jobs and imposing businesses targeted by the locals.

8 0

3 years ago

Jennifer is the owner of a video game and entertainment software retail store. She is currently planning to retire in 30 years a

nexus9112 [7]

Answer:

A= $4,838.95 monthly

Explanation:

Giving the following information:

She is currently planning to retire in 30 years and wishes to withdraw $10,000/month for 20 years from her retirement account starting at that time.

First, we need to calculate the amount needed for retirement:

FV= 10,000*12*20= 2,400,000

Now, we can use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

Effective rate= 0.02/12= 0.0017

n= 12*30= 360

A= (2,400,000*0.0017)/[(1.0017^360)-1]

A= $4,838.95 monthly

3 0

4 years ago

Suppose the spot exchange rate for the Hungarian forint is HUF 203.86. The inflation rate in the United States will be 1.2 perce

Goryan [66]

Answer:

(1) Exchange Rate in 1 year = HUF 209.90 / $ (2)Exchange Rate in 2 years = HUF 216.12 / $ (3)Exchange Rate in 5 years = HUF 235.92 / $

Explanation:

Solution

Given that:

The Spot Rate = HUF 203.86 /$

This implies that 1 dollar is equivalent to 203.86 Hungarian Forint

Now

(1) The exchange rate in one year

The Purchasing power parity equation is shown below:

Thus

E(S1) / S0 = (1 + RA) / (1 + RB)

Here

E(S1) = Expected Spot Rate of Year 1

S0 = Current Spot Rate - 203.86

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%

Hence

The Exchange Rate in 1 year will be :

E(S1) / S0 = (1 + RA) / (1 + RB)

E(S1) / 203.86 = (1 + 0.042) / (1 + 0.012)

E(S1) / 203.86 = 1.042 / 1.012

E(S1) = (1.042 * 203.86) / 1.012

E(S1) = 209.90

Exchange Rate in 1 year is HUF 209.90 / $

(2)The exchange rate in 2 years

Thus

E(S2) / S1 = (1 + RA) / (1 + RB)

E(S2) = Expected Spot Rate of Year 2

S1 = Spot Rate of Year 1 - 209.90

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%

Hence

The exchange rate in 2 years is HUF 216.12 / $

(3) Exchange Rate in 5 years

The first step here is to compute the expected spot rate of year 3 and year 4 respectively

So,

E(S3) / S2 = (1 + RA) / (1 + RB)

E(S3) = Expected Spot Rate of Year 3

S2 = Spot Rate of Year 2 - 216.12

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%

E(S3) = (216.12 * 1.042) / 1.012

E(S3) = 222.53

E(S4) / S3 = (1 + RA) / (1 + RB)

Now

E(S4) = Expected Spot Rate of Year 4

S3 = Spot Rate of Year 3 - 222.53

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%

E(S4) = (222.53 * 1.042) / 1.012

E(S4) = 229.13

Thus

The exchange rate in year 5 is given below:

E(S5) / S4 = (1 + RA) / (1 + RB)

E(S5) = Expected Spot Rate of Year 5

S4 = Spot Rate of Year 4 - 229.13

RA = Inflation Rate in Hungary - 4.2%

RB = Inflation Rate in United States - 1.2%?

E(S5) = (229.13 * 1.042) / 1.012

E(S5) = 235.92

Therefore the exchange rate in 5 years is HUF 235.92 / $

6 0

4 years ago

Davidson Company has a product with a selling price per unit of $100, the unit variable cost is $60, and the total monthly fixed

boyakko [2]

Answer:

Contribution margin per unit = $40

Explanation:

Provided information we have,

Selling price of unit = $100

Variable cost per unit = $60

Total monthly fixed cost = $30,000

Number of units sold = 1,000

Contribution margin per unit = ?

Therefore, we know contribution margin per unit = Selling price per unit - Variable cost per unit = $100 - $60 = $40

Therefore, contribution for total units sold = $40 $\times$ 1,000 = $40,000

Final Answer

Contribution margin per unit = $40

6 0

3 years ago