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2 years ago

13

Bill just financed a used car through his credit union. His loan requires payments of $275 a month for five years. Assuming that

all payments are paid on time, his last payment will pay off the loan in full. What type of loan does bill have?.

1 answer:

sergiy2304 [10]2 years ago

5 0

Answer:

Amortized loan

Explanation:

Hope that helps

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All of the following describe a budget appropriately EXCEPT: A. It is the best tool to help you get more for your money. B. It i

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Answer:

Ithink B

Explanation:

but I'm not sure

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<span>b. companies always carefully test any claims that they make about a product </span>

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A company reports the following: Cost of goods sold $660,000 Average inventory 60,000 Determine (a) the inventory turnover and (

rusak2 [61]

Answer:

the inventory turnover is 11

while the average days outstanding is 33 days

Explanation:

<u>inventory turnover:</u>

the amount of times the inventory rotetes (is being sold) during the period

$\frac{COGS}{AVERAGE\: INVENTORY }$

660,000/60,000 = 11

The company sold his invenotry 11 times

<u>days outstanding :</u>

time to sale the entire inventory

if it rotates 11 times per year and the year has 365 days then:

$\frac{365}{inventory_{TO}}$

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3 0

3 years ago

Requirement 1. Compute the profit margin ratio for Achieve's Companies for 2018. Begin by selecting the formula to calculate Ac

tamaranim1 [39]

Given Information:

Achieve's Companies Income statement

Years ended May 31 , 2018 and 2017

2018 2017

Net sales revenue 51,200 50,700

Costs of goods sold 20,800 28,600

Interest expense 400 280

All other expenses 6,200 7800

Net income 23,800 14,020

Explanation:

(1) Profit Margin Ratio for 2018

Profit Margin Ratio for 2018 = [Net Income / Net Sales Revenue] x 100

= [$23,800 / $51,200] x 100

= 46.5%

(2) Rate of Return on total assets for 2018

Rate of Return on total assets for 2018 = [Net Income / Average Total Assets] x 100

= [$23,800 / {($86,700 + $57,700)/2}] x 100

= [$23,800 / $72,200] x 100

= 33.0%

(3) Asset Turnover Ratio for 2018

Asset Turnover Ratio for 2018 = Net Sales Revenue / Average Total Assets

= $51,200 / $72,200

= 0.71 Times

(4) Rate of return for Common Stockholders Equity for 2018

Rate of return for Common Stockholders Equity for 2018 = [Net Income / Average Equity] x 100

= [$23,800 / {($45,200 + $32,900)/2}] x 100

= [$23,800 / $39,050] x 100

= 60.9%

3 0

3 years ago

sales of $1.67 million, cost of goods sold of $810,800, depreciation expenses of $175,000, and interest expenses of $89,575. Ass

Hunter-Best [27]

Answer:

Net income= 561,506.25

Explanation:

Giving the following information:

sales of $1.67 million, cost of goods sold of $810,800, depreciation expenses of $175,000, and interest expenses of $89,575.

Tax= 35 percent

We need to determine the net income.

Sales= 1,670,000

COGS= (810,800)

Gross profit= 859,200

Depresiation= (175,000)

Interest= (89,575)

EBT= 594,625

Tax= (594,625*0.35)= (208,118.75)

Depreciation= 175,000

Net income= 561,506.25

5 0

3 years ago