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hjlf
3 years ago
15

Loan Term - Interest Rate - Monthly Payment24 months - 2.5% - $342.08 36 months - 3% - $232.65 48 months - 4% - $180.63 60 month

s - 5% - $150.97 Markel is buying a new car but needs to keep his payments under $250.00 per month. He would also like to pay it off as quickly as possible so he can start saving for a vacation. Which option will meet both his budget and his vacation plans?a. 24 months b. 36 months c. 48 months d. 60 months
Business
1 answer:
a_sh-v [17]3 years ago
8 0

Answer:

Option B 36 months

Explanation:

The reason is that it meets both the budget requirement which is it must be under $250 and must be the one that pays the principle and the interest amount as quickly as possible. So if Markel choses the option with monthly instalments made within 36 which is under $250 then it will also enable him to pay his liabilities as early as possible.

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Answer:

Times interest earned (TIE) = 7.4 times

Explanation:

The times interest earned (TIE) ratio is a measure used to analyze the company's ability to meet its debt obligations on the basis of its current income level. The TIE ratio is calculated as follows,

Times Interest Earned (TIE)  =  EBIT / Total Interest expense

Where,

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To calculate TIE, we first need to determine the EBIT. EBIT can be calculated by backward working. Thus, EBIT is:

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3 years ago
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The software used in coca-cola enables the organization to improve the business process with the help of standardization. It enables them to respond to market changes that took place immediately and make implementation based on current trends.

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