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Simora [160]
3 years ago
15

Gerritt wants to buy a car that costs $30,000. The interest rate on his loan is 5.59 percent compounded monthly and the loan is

for 7 years. What are his monthly payments
Business
1 answer:
Nina [5.8K]3 years ago
3 0

Answer:

Using the formula to calculate the monthly payment: (rate*Present Value) /(1-(1+rate)^(-period). You can use excel to do the calculations with the function: PMT(rate;period;present value)

The amount will be US$ 1,694.57.

To do the calculation you have to remind that the rate must be in the same period, that means that if the interest is in a monthly period the period must be monthly too. In this case the period have to be 84 months (which is 7 years).

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Murrr4er [49]

Answer:

uncollectible ammount expense 47,972 debit

            allowance for doubtful account    47,972 credit

Explanation:

Fro mthe talbe we are given the amount of account over-time fro meach customer.

As we are presented with all date we should proceed directly with the journal entry:

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the adjustment will be for:                         <em>       47,972 </em>

5 0
3 years ago
Operational inefficiencies occur because accounts unique to many concurrent transactions need to be updated in real time.
IrinaK [193]

Answer:

This statement is False

Explanation:

Operational inefficiencies do not occur because accounts unique to many concurrent transactions need to be updated in real time. There are many reasons for operational inefficiencies occur as a result of factors such as improper planning, poor scheduling, poor supervision and quality control, and other factors.

5 0
3 years ago
Suppose that two firms, A and B, are considering the same project. The project is in the same risk class as firm A's overall ope
mario62 [17]

Answer:

Firm A should accept the project beacause it has high required rate of return which means low risk involved.

Explanation:

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Firm A

rate of return = 0.045 + 1.2 (0.07)

= 0.045 + 0.084

= 12.9%

Firm B ;

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= 0.045 + 0.063

= 10.8%

5 0
3 years ago
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Answer: capitalism

Explanation: Capitalism defines a socio-economic system that is based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a market unregulated by the state. The ever constant revolutionizing of production, the uninterrupted disturbance of all social condition, uncertainty amongst others have been pivotal in setting is apart from other economic systems. It respects the conditions necessary for humanity to succeed as well as propelling innovation and prosperity in modern societies.

7 0
3 years ago
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krok68 [10]

Answer: The answer is FILL IN

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3 0
3 years ago
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