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deff fn [24]
3 years ago
12

You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and th

e nominal interest rate will be 10% with interest paid monthly. What will be the monthly loan payment
Business
1 answer:
egoroff_w [7]3 years ago
5 0

Answer:

The monthly loan payment is:

= $531.18

Explanation:

a) Data and Calculations:

Cost of a car financed by a local bank = $25,000

Period of loan = 5 years (60 months)

Interest rate = 10%

The monthly loan payment is calculated from an online financial calculator:

Auto Price  25000

Loan Term  60 months

Interest Rate  10

Down Payment  0

Monthly Pay:   $531.18

Total Loan Amount $25,000.00

Upfront Payment $0.00

Total of 60 Loan Payments  

$31,870.57

Total Loan Interest $6,870.57

Total Cost (price, interest, tax, fees) $31,870.57

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In deciding on a legal form of organization, you should ask yourself all of the following questions except______________
algol13

In deciding on a legal form of organization, you should ask yourself how many employees will you hire.

<h3>What is an organization?</h3>

An organization refers to an organized group of people with a particular purpose such as any business or government department.

When deciding on a legal form of organization, you should ask yourself all of the following questions except how many employees will you hire.

Therefore, C is the correct option.

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5 0
2 years ago
The owners of Arthouse Inc., a national artist supplies chain, are contemplating purchasing Craftworks Inc, a smaller chain. Art
Elodia [21]

Answer:

It can purchase at most, $18.13 per share.

Or 72.52 millions for the total 4,000,000 shares

Explanation:

We are given with  the present value of the merger at Craftworks discount rate. The shares can be purchase at most at the same level of the present value of the increase in the free cash flow.

That way, the net present value will be zero and the merger will yield the 16% required.

72,520,000 Millions

 4,000,000 shares outstanding

price per share 18.13

The crafworks shares can be purchase at most for 18.13 above this, it would yield the 16% required

Currently the share are at 16.25 so it could be possible to do the take-over

6 0
3 years ago
For each of the following independent cases, use FIFO costing to determine the information requested. Required: a. In the beginn
Ludmilka [50]

Answer:

$35,000

Explanation:

Units started and completed means that out of the units completed and transferred, how many were started during the period. This figure is calculated in physical terms only. So there is no need to express any units in their equivalents.

So, this gives us an idea of how to calculate this :

Units started and completed = Units Completed and Transferred - Units in Beginning Work in Process

therefore,

Units started and completed = 40,000 units - 5,000 units = $35,000

3 0
2 years ago
What is the historical development of accounting​
Vaselesa [24]

Answer:

Accounting history dates back to ancient civilizations in Mesopotamia, Egypt, and Babylon. For example, during the Roman Empire the government had detailed records of their finances. However, modern accounting as a profession has only been around since the early 19th century. The earliest accounting records were found over 7,000 years ago among the ruins of Ancient Mesopotamia. At the time, people relied on accounting to keep a record of crop and herd growth.

Explanation:

4 0
3 years ago
1. A department is looking for an entry-level cashier. One of the job applicants is a cashier with 30 years of experience as a c
nevsk [136]

The candidate with 6 months of experience shall be hired by the department for the position as an entry-level cashier.

<h3>Who is cashier?</h3>

A cashier is a professional who has expertise in managing the cash inflows and outflows of an organization and deal with the cash transactions of an organization on a daily basis.

A cashier who has 6 months of experience be more suitable for such role in the department, and will also take lesser pay than the one with 30 years of experience.

Hence, it may be concluded that the cashier with less experience will be a suitable one to be hired at the position as such.

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4 0
2 years ago
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