All categories

2 years ago

Jean paid $18,489 for a new car. calculate the total cost of the car if she financed it at an interest rate of 3.5% for 4 years.

2 answers:

5 0

This is a simple interest problem. We are going to use the formula:
$I=Prt$
Where I is the interest she has to pay for her loan, P is the amount she financed, r is the interest rate (in decimal), and t is the number of years.

Replace the values to get:
$I= (18489)(0.035)(4)$
$I=2588.46$

Now that we have the interest she paid, we just need to add them to the value she paid to get the total cost she paid:
$18489+2588.46=21077.46$

We can conclude that the total cost of the car that she financed will be $21,077.46

IRISSAK [1]2 years ago

5 0

We can conclude that the total cost of the car that she financed will be $21,077.46

You might be interested in

During 2020, Leisel, a single taxpayer, operates a sole proprietorship in which she materially participates. Her proprietorship

spayn [35]

Answer:

i think it is $98,602

Explanation:

6 0

2 years ago

Source: Tommy Stubbington and Ben Edwards, open double quoteU.K. to Repay First World War Bonds,close double quote Wall Street

xxMikexx [17]

Answer:

Follows are the solution to this question:

Explanation:

Its console shall be coordinated effort mutual funds which do not grow at all, and in every year they create a corrected degree of interest, that's why Its bond paying a fixed rate of the coupon but not maturing.

$\text{Consolation price} =\frac{\text{Set amount of coupon}}{\text{Return Rate}}$

$= \frac{35}{2.5\%} \\\\ = \frac{35\times 100}{2.5} \\\\ = \frac{35\times 1000}{25} \\\\ = \frac{7\times 1000}{5} \\\\ = 7\times 200 \\\\= 1400$

It's the price that the government needs to offer shareholders.

5 0

3 years ago

Which of the following statements is false? (2 points) If a tangible asset has a finite life, it should be amortized Goodwill is

ss7ja [257]

Answer:

The correct answer is (d)Research and development costs are expensed when incurred, except when the research and development expenditures result in a successful patent.

Explanation:

Research and development costs must be recognized as an expense within the accounting period in which they are presented, since regardless of whether or not a patent was obtained, the organization incurred costs represented in the research and development process that was executed. When this process generates a patent, it is necessary to recognize said right in an asset, but at no time will it be equal to the expenses incurred in the investigation process, since the company hopes to commercialize that knowledge for its own benefit.

6 0

3 years ago

Ramkissoon Midwifery's cost formula for its wages and salaries is $2,060 per month plus $442 per birth. For the month of July, t

iragen [17]

Answer:

Spending variance will be equal to -729

Explanation:

We have given wages and salary is $2060 per month plus $442 per birth

We have given total number of birth = 117

So standard cost = $2060+117×$442 = $53774

Actual wages and salary for the month is = $54500

We have to find the spending variance

Spending variance is given by

Spending variance = Standard cost - actual cost = $53774 - $54500 = -729

So spending variance will be equal to -729

6 0

3 years ago

Assume the initial present value of the payments on a lease are equal to the cost of the leased asset. This capital lease is rec

Whitepunk [10]

Answer: D) present value of the remaining lease payments.

Explanation:

When recording a capital lease in the balance sheet of the lessee, the amount recorded is the lower amount between the present value of the remaining lease payments or the cost of the leased asset.

As the cost of the leased asset is equal to the initial present value of the payments, the cost will therefore be higher than the current present value of the remaining payments so the appropriate amount to put in the balance sheet will be the current present value of the remaining lease payments.

4 0

3 years ago