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natta225 [31]
3 years ago
13

Teresa is considering purchasing a home for $220,000 by taking out a loan with an interest rate of 4.3% for 30 years. What would

her monthly payment be?
Use the monthly payment formula to calculate the monthly payment for this loan:

M =
M = monthly payment

P = principal

r = interest rate

t = number of years



$896.25
$1,088.72
$1,868.70
$2,069.75
Business
1 answer:
Alex Ar [27]3 years ago
8 0

Answer:

$1,088.72

Explanation:

This is an annuities situation. The applicable formula is

M  = PV   ×   <u>    r         </u>

                     1 − (1+r)−n

where p = $220,000

r = 4.3% interest rate per year,  Converted to monthly rate = 4.3/100 /12=0.00358

r = 30 year, which is 30 x 12 months= 360 months

M= $220,000  x <u> 0.00358        </u>

      1  - (1+0.00358 ) ^ - 360

M=$220,000 x  <u> 0.00358     </u>

                            1- 0.2762

M = $220,000 x (0.00358 /0.7238)

M = $220,000 x 0.0049461

M = 1,088.12

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3 years ago
Wall -to- wall records' April 1 inventory had a cost of $48,000 and a retail value of $70,000. During April, net purchases cost
algol13

Answer:

<u>The correct answer is that the cost of the ending inventory using the retail inventory method is US$ 100,962</u>

Explanation:

Wall-to-Wall Records

                                        Cost          Retail

Beginning Inventory $ 48,000 $ 70,000

Purchases                     $ 210,000       $ 390,000

Cost of Goods Available for Sale $ 258,000 $ 460,000

Cost to Retail Ratio

= $ 258,000 ÷ $ 460,000

= 0.5609 = 56.09%

                                                    Cost            Retail

Cost of Goods Available for Sale $ 258,000   $ 460,000

− Sales                                                                 $ 280,000

Ending Inventory                                          $ 180,000

× Cost to Retail Ratio                                    0.5609

<u>Ending Inventory                           $ 100,962 </u>

5 0
4 years ago
Garcia company has 10,000 units of its product that were produced last year at a total cost of $150,000. the units were damaged
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Answer and Explanation:

The computation of the incremental net income is shown below:

<u>Particulars    Sell          Process Further      Incremental Net income </u>

Sales        $20,000.00    $50,000.00        $30,000.00

          (10,000 units × $2)  (10,000 × $5)

Less:

Additional

Processing cost                 $18,000.00          $18,000.00

Total        $20,000.00      $32,000.00          $12,000.00

4 0
3 years ago
Basic characteristic of free market system
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Before Pepsi-Cola stamped freshness dates on its cans, few consumers considered cola freshness an issue. After Pepsi spent about
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Below are the complete options:

changing beliefs about the extent to which a brand has certain attributes

encouraging the consumer to use stimulus generalization

adding new attributes to the product

encouraging the consumer to use stimulus discrimination

changing the importance of attributes

Answer:

changing the importance of attributes

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This resulted in 61 percent of cola drinkers now thinking it is important.

This exemplifies how importance of a product's attribute can be changed

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