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2 years ago

You can afford a $200 per month car payment. You've found a 3 year loan at 4% interest. How big of a loan can you afford

1 answer:

4 0

Based on the payment you can afford, the interest rate, and the number of years, the loan you can afford is $6,774.15

<h3>What size of a loan can you afford?</h3>

First find the monthly interest rate:

= 4% /12

= 1/3%

Number of periods:

= 3 x 12

= 36 months

The loan you can afford can be found as:

= Payment x ( 1 - (1 + rate) ^ -number of periods) / rate

= 200 x (1 - (1 + 1/3%)⁻³⁶) / 1/3%
= $6,774.15

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Journalize the following five transactions for Nexium & Associates, Inc. Omit explanations.March 1 - Bills are sent to clien

emmasim [6.3K]

Answer: Please find answers in explanation column

Explanation:

Journal entry for Nexium & Associates

1.Journal to record Services provided in February.

Date Account Debit Credit

March 1 Accounts receivable $800

Service revenue $800

2.Journal to record purchase of furniture and supplies on account.

March 9 Office furniture $1,060

Office supplies $160

Accounts payable $1,220

3.Journal To record payment made to suppliers, Corner Office Inc.

March 15 Accounts payable $1,220

Cash $1,220

4.Journal To record the bill of electricity for march which is not yet due to be paid till April.

March 23 Electricity expense $430

Outstanding Liabilities $430

5.Journal To record the salary payment to employees.

March 31 Salaries expense $850

Cash $850

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2 years ago

A grocery store has three open checkout lanes. On average, 45 shoppers arrive at these lanes per hour. The coefficient of variat

nadya68 [22]

Answer:

0.833

Explanation:

m = 3

Arrival rate, ra = 45 per hour

Service rate, re = 18 per hour per lane

Utilization factor = ra/(m.re)

= 45/(3*18)

= 0.833

Therefore, The utilization factor of the system is 0.833

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2 years ago

Truman applies for a job at Skylight Canopy Corporation for which he is well qualified, but for which he is rejected. Skylight c

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Answer:

The correct answer is: a protected class.

Explanation:

A protected class is a group of people legally protected from employment discrimination who share similar characteristics such as <em>religion, race, gender, age </em>or<em> disability</em>. The United States Department of Justice is the agency in charge of enforcing this type of anti-discriminatory law.

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2 years ago

A recent study conducted by Estelle Cosmetics Company showed that heavy users of Estelle's products comprise a small percentage

s344n2d4d5 [400]

Answer: Segmentation by usage

Explanation: Segmentation by usage splits customers according to how often they use a product. Using segmentation by usage, customers can be classified into non - users, who don't use the product at all, light and medium users, who can range from little usage of the product to average use of the product, and heavy users, who mostly use these products.

From thr first paragraph it is clear that usage segmentation is used to separate the user's into different classes based on their usage, and identify which class to target when it comes to sales. At Estelle Cosmetics Company, it was deduced that of this company's total sales, less than 7% of this market are heavy users. These users purchase nearly 71% of the company's products. This company will probably focus their marketing efforts on the heavy users, as they contribute to the majority of sales within their company.

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2 years ago

Arjen owns investment A and 1 bond B. The total value of his holdings is 1,529 dollars. Investment A is expected to pay annual c

zloy xaker [14]

Answer:

In order to find the present value of the bond we have to calculate the present value of investment A and subtract is from 1529. We can find the present value of A by discounting all its cash flows.

As the first cash flow is received today and the last will be received 3 years form now there will be a total of 4 cash flows

1) 218.19 (Will not be discounted as we are receiving it today in the present)

2) 218.19/1.0987 (Discount by 1 year as cash will be received in 1 year)

3) 218.19/1.0987^2 (Discount by 2 years as cash will be received in 2 years)

4) 218.19/ 1.0987^3 (Discount by 3 years as cash will be received in 3 years)

= 218.19 + 198.58 + 180.74+ 164.51 = 762.02

PV of Bond = 1529-762.09= 766.91

Semi annual coupons mean 2 payments a year. Bond B matures in 23 years which means a total of 46 payments (23*2). N=46. A coupon rate of 6.4 percent means that the bond pays $64 (0.064*1000) each year. $64 divided by 2 is 32 which is the amount of each semi annual payment Arjen receives. Pv= 766.91 FV = 1000

In a financial calculator put

PV= -766.91

N= 46

FV=1000

PMT= 32

and compute I

I is 4.38 and we will multiply it by 2 because the payments are semi annual. So we will get an I of 8.76

YTM= 0.0876

Explanation:

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2 years ago