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Ber [7]
2 years ago
13

Dennis has just made the final monthly payment necessary for paying off his car financing. When he purchased the car three years

ago, it had a list price of $23,878. Dennis traded in his good-condition 2001 Honda Odyssey and financed the rest of the cost at an interest rate of 11. 82%, compounded monthly. The dealer gave Dennis 85% of the trade-in value of his car, listed below. Dennis was also responsible for paying 9. 05% sales tax, a $1,474 vehicle registration fee, and a $225 documentation fee. All told, how much did Dennis pay in interest? (Round all dollar values to the nearest cent, and consider the trade-in to be a reduction in the amount paid. ) Honda Cars in Good Condition Model/Year 2000 2001 2002 2003 Element $5,887 $6,080 $6,225 $6,622 Odyssey $8,450 $8,693 $8,928 $9,224 Insight $4,384 $4,661 $5,006 $5,440 Accord $6,356 $6,626 $6,817 $7,114 a. $3,919. 77 b. $3,906. 80 c. $4,599. 44 d. $3,668. 52.
Business
2 answers:
bixtya [17]2 years ago
6 0

The correct statement is that the payments made towards the interest by Dennis on such amount of principal of the car purchase will be computed as $8392.53.

The calculation of the payment of interest made by Dennis will be computed upon the net principal value of the car and deducting such principal amount from the annuity amount.

<h3>Calculation of payment of interest </h3>

The formula for the calculation of compounded annuity will be calculated on the total value of the car financed, which is calculated as $19834, and the annuity as per the compound interest formula will be,

\rm Compounded\ Annuity= 19834(1+\dfrac{0.1182}{12})^3^x^1^2\\\\\rm Compounded\ Annuity= 19834(1.00985)^3^6\\\\\rm Compounded\ Annuity= \$28226

Now the payment of interest will be as,

\rm Compound\ Interest= Annuity- Principal\\\\\rm Compound\ Interest=28226-19834\\\\\rm Compound\ Interest=\$8392.53

So, the amount of interest paid is $8392.53.

Hence, the correct statement is that the payments made towards the interest by Dennis on such amount of principal of the car purchase will be computed as $8392.53.

Learn more about Interest Payment here:
brainly.com/question/3940069

tensa zangetsu [6.8K]2 years ago
6 0

Answer:

✅ A. $3,919.77

its right ⬇️

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Maria spends all of her money on paperback novels and beignets. In 2011 she earned $27.00 per hour, the price of a paperback nov
marishachu [46]

Answer:

1.  The price of a beignet is $3.00 in 2011 and Maria's wage is $27.00 per hour in 2011.

2. The price of a paperback novel is 3 beignets in 2011 and Maria's wage is 9 beignets per hour in 2011.

3. 3 Beignets

4. increases and remains the same

Explanation:

1.  Nominal value is the value of a product based on the money of the day that we see. The price of a beignet is $3.00 in 2011 and Maria's wage is $27.00 per hour in 2011 are the values of the product and wage quoting the money of the day.

2. The real value of a varaible is the value in terms of the value of some other goods. In this case Paperback and Maria's wage are valued in terms of beignets.

3. The relative price of paperback is valued in terms of beignets. So if a beignet costs $6 and a paperback novel is $18. The relative price of a paperback novel will be three times the cost of beignet, since a beignet costs $6.

4. Between 2011 and 2016, the nominal value of Maria's wage increases and the real value of her wage remains the same.

6 0
3 years ago
A new product made from recycled bio-plastics needs 25 labor hours to complete the build for the first unit. If production opera
Zigmanuir [339]

Answer:

166.25 hours

Explanation:

It take 25 hours if the production is going at 100% capacity, but the production is only going at 67%, therefore, 33% of the capacity is under utilized. It takes 8.25 more hours to finish the unit since the capacity is only at 67%. Finally, it takes 25+8.25 hours to finish a single product, hence taking 166.25 hours for 5 units.

We do this like this:

--> 25 ------ 100

--> X   ------ 33

--> 33*25 = 100*X

--> 825/100

--> X=8.25

Hope this clears everything. Thankyou.

7 0
3 years ago
The marketing manager at Widgets R Us became aware that a leading competitor was conducting an extensive customer survey. Somewh
muminat

Answer:

Problem definition.

Explanation:

Problem definition is the process of identifying an area for improvement, a difficulty that needs eliminating, or problem to be solved.

The marketing manager at Widgets R Us did not define a problem before starting their own survey.

Problem definition directs the focus of the survey, without a defined problem the survey will be of no use.

3 0
3 years ago
At Hodgson Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly applied.
nika2105 [10]

Answer:

$2.25 per unit

Explanation:

The computation of the cost per equivalent is shown below:

= Total conversion cost ÷ total units completed

where,

Total conversion cost is

= Beginning work in process conversion cost + cost of conversion added

= $20,250 + 271,125

= 291,375

And, the number of units is

= Units completed + work in process ending inventory units × completion percentage

= 115,700 units + 23,000 units × 60%

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So, the cost per equivalent unit for conversion cost is

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The purpose of this category of interview questions is to learn about the interviewees personal attributes
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The purpose of this category of interview questions is to obtain factual information about the interviewee.

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3 years ago
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