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
larisa [96]
2 years ago
9

Olivia is willing to pay $185 a month for four years for a car payment. if the interest rate is 4.9 percent, compounded monthly,

and she has a cash down payment of $2,500, what price car can she afford to purchase?
Business
1 answer:
Grace [21]2 years ago
4 0
Let x = the price of the car that Olivia can afford.

Down payment = $2,500
Remaining amount to be financed is P = x - 2500.

Total payments should equal the monthly payments.
The total payment over 4 years (48 months) is
A  = $185*48 = $8,880

The rate is r = 4.9% = 0.049.
The compounding interval is n = 12.
The time is t = 4  years.
The amount financed is P = $(x - 2500).
Therefore
(x - 2500)(1 + 0.049/12)⁴⁸ = 8880
1.216(x - 2500) = 8880
x - 2500 = 7302.63
x = 9802.63
Olivia can afford a car priced at $9,802.63.

Answer: $9,802.63

You might be interested in
How is it that people working in their own self-interest produce goods, services, and wealth for others?
Brums [2.3K]

Answer:

Explanation:

In order to earn money and produce goods that improve lives, self-directed gain would provide jobs, and subsequently wages for others.

The way people can become wealthy by their own efforts is to sell what they produce to others. As the business grows, labor is hired to produce more. This is the 'invisible hand' concept that turns self-directed gain into social and economic benefits for all.

8 0
3 years ago
An individual stockholder is entitled to receive any dividends declared on stock owned, provided the stock is held on the date o
Nataly_w [17]
An individual stockholder is entitled to receive any dividends declared on stock owned, provided the stock is held on the ex-dividend date. This is the date that is scheduled by the stock exchange. It is the date where you are entitled as the owner of a stock.
7 0
2 years ago
A ________ gives a franchisee the right to produce and distribute the manufacturer's products, using supplies purchased from the
Mars2501 [29]
The answer is Product franchise. A product franchise is a diversifying assertion where producers enable retailers to disseminate items and utilize names and trademarks. An assembling establishment is a diversifying understanding where the franchisor enables a producer to create and offer items utilizing its name and trademark.
4 0
3 years ago
Markets and competition Identical products, as well as a large number of buyers and sellers, are characteristics of aperfectly c
Nadya [2.5K]

Answer:

The answer is true.

Explanation:

The sellers in the perfectly competitive market become price takers as they have to sell under the price decided in the market through supply and demand.

This is mainly because there is no way to differentiate the product to change the price. Since all goods are identical, one good is a perfect substitute for another.

7 0
3 years ago
Garza Corporation has two production departments, Casting and Customizing. The company uses a job-order costing system and compu
Misha Larkins [42]

Answer:

d. $73,500

Explanation:

The computation of the estimated total manufacturing overhead for the customizing department is shown below:

= Total fixed manufacturing overhead cost + Variable manufacturing overhead cost

where,

the variable manufacturing overhead cost = Customized Direct labor-hours × Variable manufacturing overhead per direct labor-hour

= 7,000 units × $5

= $35,000

And, the Total fixed manufacturing overhead cost is $38,500

Now put these values to the above formula

So, the answer would be equal to

= $38,500 + ($7,000 hours × $5 per hour)

= $38,500 + $35,000

= $73,500

5 0
3 years ago
Other questions:
  • Currently, Mucho Dinero is organized into specialized departments such as marketing, finance, production and personnel. These de
    7·1 answer
  • Select items that affect incentives for people to produce and exchange goods and services.
    15·2 answers
  • _____ refers to the movement of products through more than one channel to reach the firm's target market. select one:
    5·1 answer
  • Home / study / business / economics / questions and answers / 1.if individual income tax accounts for more total ...
    12·1 answer
  • Enrico is a CPA for a large company. Recently, he noticed that the company's accounting records significantly overstated the amo
    10·1 answer
  • Please help! Two paragraphs. Be as detailed as possible. Include examples. Will get brainliest.
    9·1 answer
  • The average cost method of process costing differs from the FIFO method of process costing in that the average cost method: Grou
    7·1 answer
  • Which of the following business document contains preprinted blanks to be filled in?
    11·2 answers
  • Is the sole shareholder of a corporation. for the past five years, has reported little or no taxable income as a result?
    12·1 answer
  • many say that companies have a right to drug-test their employees because drug use impairs an employee's performance. how do des
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!