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3 years ago

Suppose payments will be made for 7 1/4 years at the end of each month from an ordinary annuity earning interest at the rate of

Business

1 answer:

GaryK [48]3 years ago

3 0

Answer:

The size of the payment = $628.63

Explanation:

An annuity is a series of equal payment or receipt occurring for certain number of period.

The payment in question is an example of an annuity . We can work back the size of the payment using the present value of the ordinary annuity formula stated below

The Present Value of annuity = A × (1- (1+r)^(-n))/r

A- periodic cash flow,= ? r- monthly rate of interest - 4.25%/12= 0.354%

n- number of period- (71/4×12)= 87.

Let y represent the size of the payment, so we have

47,000 = y × ( 1-1.00354^(-87))/0.00354

47,000 = y× 74.76

y =47,000/74.7656= 628.63

The size of the payment = $628.63

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Is god real yes or no answer

dem82 [27]

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2 years ago

A sporting equipment store expects to purchase $7,800 of ski boots in October. The store had $3,800 of ski boots in merchandise

Maksim231197 [3]

Answer:

Cost of goods sold = $8,800

Explanation:

The cost of goods is represents amount incurred to make available what has been sold. It is computed as follows:

Cost of goods sold = opening stock + purchases - closing inventory

It is useful to determine the cost of goods so as to calculate the gross profit margin. The gross profit is the sales revenue less cost of goods sold.

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= $8,800

Cost of goods sold = $8,800

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3 years ago

Thad is worried about the selling price. Rumors are circulating that other retro brands of cycles may be revived. If so, the sel

Step2247 [10]

Answer:

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Explanation:

Net operating income = Total revenue - Total cost

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Total cost = $670,000

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I hope my answer helps you

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2 years ago

What are some of the possible pitfalls of owning a credit card? Check all that apply. A Only paying the minimum balance due. B P

Aliun [14]

Answer:

C. Paying your bill late.

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Explanation:

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3 years ago

Cor-Eng Partnership was formed on January 2, 20X1. Under the partnership agreement, each partner has an equal initial capital ba

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Answer:

Cor's share of Cor-Eng's 20X1 net income is $60,000

Explanation:

Partnership Table

Cor$ Eng$ Total$

Ratio 60% 40% 100%

Assets 60,000 20,000 80,000

Goodwill 40,000 40,000

Initial Capital balance 60,000 60,000 120,000

Add: Net income 15,000 10,000 25,000

Less: Drawing -3,000 -9,000 -12,000

Year End balance 72,000 61,000 133,000

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2 years ago