Mr. Jones decides to purchase a car for $35,000. Mr. Jones has an excellent credit rating, so the dealer offers to finance the car at 6% interest over a 5-year period. The monthly payment is $676.65
Given the above information , what will be the amount of interest Mr. Jones will pay when he makes his first payment? How much principle will be applied and how much will Mr. Jones still owe on his car at the end of 12 months, assuming he makes all payments on time?

Answers

Answer 1

Mr. Jones will pay $2,100 in interest when he makes his first payment. At the end of 12 months, he will still owe $26,880.20 on his car loan, assuming he makes all payments on time.

First, let's calculate the interest for the first payment:

Interest = Loan amount * Interest rate

Interest = $35,000 * 6% = $2,100

So, Mr. Jones will pay $2,100 in interest for his first payment.

To determine the portion of the monthly payment applied to the principal, we subtract the interest from the monthly payment:

Principal = Monthly payment - Interest

Principal = $676.65 - $2,100 = -$1,423.35 (negative because it represents the amount by which the loan balance is reduced)

Since the principal applied is negative, it means that the interest payment for the first month exceeds the monthly payment. In this case, the remaining interest will be carried over to subsequent months.

To calculate the remaining loan balance at the end of 12 months, we need to determine the outstanding principal after 12 payments.

Outstanding Principal = Loan amount - (Principal * Number of payments made)

Outstanding Principal = $35,000 - ($676.65 * 12) = $35,000 - $8,119.80 = $26,880.20

So, at the end of 12 months, Mr. Jones will still owe $26,880.20 on his car loan, assuming he makes all payments on time.

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Related Questions

Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.

Answers

25 tickets

($14)(25)=$350
($25)(11)=$275
$350+$275= $625

Describe the information you will need to provide in order to complete a FAFSA. List at least three of the required documents you must include.

Answers

Answer:

Sample response: To complete a FAFSA, I must first include information to verify my identity. This includes my Social Security number or a driver's license. I must include information about my income or my family's income (if they are still responsible for my care). Finally, I must submit financial information, like my account statements.

Explanation:

2020 edg

A study has found, among 100 students at a school, that enrollment in drama classes is correlated with high rates of participation in social-
service projects. What can we conclude from this correlation for this population?
O Both of the above
O Neither of the above.
O Drama classes cause increased volunteerism
Volunteering causes interest in drama,

A study has found, among 100 students at a school, that enrollment in drama classes is correlated with

Answers

Answer: B) Neither of the above

Explanation:

Correlation does not lead to causation, no matter how strong the correlation may be. You'll need to do an experiment to see if one variable causes the other. There may be other factors that aren't being considered here. We consider these confounding variables.

An example of correlation doesn't lead to causation could be this: In the summertime, ice cream sales increase and the amount of sunburns increase. Both ice cream sales and sunburns are strongly positively correlated. Does eating ice cream cause a sunburn? The answer is "no" because clearly the sun is responsible for that. So the sun would be the confounding variable here. Specifically, the amount of sunlight exposure would be key here.

Examples of productivity in economics.

Answers

Answer:

The value of output obtained with one unit of input is referred to as economic productivity. For example, if a worker produces two units at a cost of ten dollars each in an hour, his productivity is twenty dollars. :))))

at the end of the production chain that a typical economy moves up along is

Answers

At the end of the production chain that a typical economy moves up along is the production of goods and services that meet the demands of consumers.

The production chain starts with the extraction of raw materials, followed by the transformation of these materials into intermediate goods, and then finally into finished goods that are ready for consumption. This process involves many different stages and industries, from agriculture and mining to manufacturing and distribution.

The ultimate goal of production is to create goods and services that are of high quality, affordable, and desirable to consumers. This requires coordination and collaboration between all the different players in the economy, including producers, suppliers, distributors, and retailers. It also requires innovation, investment, and the efficient use of resources.

The production of goods and services is essential to economic growth and development, as it generates income, creates jobs, and fosters innovation and progress. A healthy and vibrant production sector is therefore critical to the success and sustainability of any economy.

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Managers are accountable to some stakeholders whose interests they represent. These

stakeholders are:

Customers

Employees

Owners

Shareholders

Society

Government


1. Conduct a research to explain how is management responsible to EACH of these stakeholders. [18 marks]


pls help me

Answers

Answer:

see explanation

Explanation:

Stakeholder is anyone interest in the operation of a company or affected by the decision of the company.

Each stakeholder has its own interest and this is listed below :

Customers

They expect to receive value for money out of the firm products or services.

Employees

They are looking up to management for better remuneration for their manpower.

Owners

They seeking a maximum return from their investment in the company. Management run the company on their behalf as stewards.

Shareholders

They also seek maximum return from their investment in the company.

Society

The community expects the company to be a good corporate citizen and improve the social factors of employment, sustainability and environmental issues

Government

The government expects the company to be tax compliant and to pay its dues on time.

Consider Australian football, cricket, and field hockey. Of the three, list which of those sports you find the most interesting, why it interests you, and a few rules of the game.

Answers

Answer:

Basic Rules Of Cricket

Cricket is played between two teams each made up of eleven players. ...

Games comprise of at least one innings where each team will take turns in batting and fielding/bowling.

The fielding team will have a bowler bowl the ball to the batsman who tries to hit the ball with their bat.

Explanation:

hope this helps

Sample Response: Students should select one of the listed sports and be able to describe some unique features of the sport highlighted in the test. Their interest in the sport can be pretty much anything including their relative obscurity in the US mainstream, past experience playing with family, or because they seem uniquely challenging. 

Kevin works in an airline office. He has a habit of visiting social networking sites on his office computer during work hours. Which ethical error is Kevin making?

oA.
falsifying private information
oB.
providing poor customer service
oC.
breaking his employer's confidentiality
oD.
gossiping about his coworkers
oE.
using company resources for personal use

Answers

Option e, using company resources for personal use

He should use his own phone or home device, and not at work

Oe because he’s using person socials

An asset turnover ratio of 2.5 means that for every $1 in assets, the firm generates _____ in sales.

Answers

An asset turnover ratio of 2.5 means that for every $1 in assets, the firm generates $2.5 in sales. A company's sales or revenues are compared to the value of its assets using the asset turnover ratio.

The asset turnover ratio can be used to gauge how effectively a business uses its assets to produce income. The more effectively a corporation uses its assets to generate revenue, the greater its asset turnover ratio. A corporation is not effectively employing its assets to produce sales if it has a low asset turnover ratio, on the other hand. Investors can use this measure to gauge how well a company is utilising its resources to drive sales.

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In terms of SUPPLY, what factors have contributed to the fall in oil prices?

Answers

Current supply and output. Until recent years, Organization of Petroleum Exporting Countries (OPEC) often set supply through a quota system.

true or false. servant leadership stresses the role of personal influence in the leadership process.

Answers

Answer: True

Explanation:

Plz help me I’ll make u the brainliest ( I promise)

Plz help me Ill make u the brainliest ( I promise)

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A division within Sherman Inc. suggested the top management hold an open house featuring product demos, recreational activities, and office tours. Every employee of the company along with numerous company-outsiders was invited to the event. The workers and company guests mingled with each other and discussed the various facets of Sherman Inc., and the event became a grand gala success. Which type of department recommended these steps to top management, and what was the reason behind its recommendation

Answers

Answer:

Public relations department

Explanation:

The Department of Sherman Inc that would have recommended these steps to the management will most definitely be the public relations department, as this steps are in line with the duties/functions of a public relation department in every firm.

The purpose is to create a greater rapport between the company, customers and members of staff and also to improve community support

what are the answers for all 3 of them?

what are the answers for all 3 of them?

Answers

Answer:

See below

Explanation:

(i) €585.00

As per the statement, Taylor owed €585.00 to Franklyn photographic supplies Ltd at the end of April. The closing balance for April is the Amount owed at the end of April.

(ii) €75.00

The opening balance for April as indicated in the statement is the closing balance for March.

(iii) €375.00

As per the statement an amount of €375.00 was paid on April 15

Which expense category will most likely be changed to allow money for the purchase of a car? savings Which expense category will most likely be changed to allow money for the purchase of a car?

savings
groceries
utilities
entertainmentgroceries utilities entertainment

Answers

Entertainment is the correct answer

Answer:

D. entertainment

If someone uses a ring worth $500 as collateral for a $200 loan, she has most likely obtained a loan from a

Answers

If someone uses a ring worth $500 as collateral for a $200 loan, she has most likely obtained a loan from a pawn shop.

Pawn shops are establishments that provide loans to individuals in exchange for collateral. In this scenario, the individual has used a ring valued at $500 as collateral for a $200 loan. In a pawn shop, the borrower receives the loan amount in exchange for temporarily relinquishing possession of the collateral item. If the borrower is unable to repay the loan within the agreed-upon terms, the pawn shop may retain the collateral and sell it to recoup the loan amount.

Pawn shops are known for providing short-term loans based on the value of the collateral, without conducting extensive credit checks or requiring a strong credit history. This makes them a common option for individuals who may have difficulty obtaining loans through traditional financial institutions.

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A person just bought a house for $150,000. however, he also has to pay another $2,000 for his house every year.

which tax explains this expense?

a. sales tax

b. property tax

c. income tax

d. corporate tax

Answers

Answer:

I think that its property tax i'm not sure tho

Explanation:

Answer:

B

Explanation:

Cause It deals With houses, and because the person bought the house its now their property but also Tax of this property is a given yearly

describe the impact of the company's culture on its success in a customer-focused business environment.

Answers

Strong corporate cultures have the power to differentiate your company's customer relations from those of rivals in your field through the attitudes and behaviors they foster.

What is the role of the company's culture in success?

The attitudes and actions that are demonstrated within a strong corporate culture have the potential to set your company's customer relations apart from competitors in your industry.

When a customer interacts with your business, the culture influences what they see, hear and feel, and it may have a big impact.

By having a beneficial impact on employees' motivation, mindfulness, and job satisfaction, company culture helps businesses succeed by increasing the likelihood that they will be present.

The data repeatedly demonstrates that productive workplaces also have favorable work cultures.

Because they are more invested in their work, engaged people work more effectively.

Additionally, productive workplaces have a tendency to be less competitive.

Therefore, strong corporate cultures have the power to differentiate your company's customer relations from those of rivals in your field through the attitudes and behaviors they foster.

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The market ______ stocks of a stock is the price at which a share of stock can be bought and sold in the stock market.

Answers

Answer:

The market joint stork of a stork is the price at which a share of stork can be bought and sold in the market.

The beautician is going to attempt to sell you a product that
is guaranteed to bring your hair ‘to life.’ Discuss two reasons why
won’t purchase the product?

Answers

I won't purchase the product because I am satisfied with the current condition of my hair and do not feel the need for any additional products.

Firstly, my hair is already healthy and vibrant, and I am content with its current state. I have been following a good hair care routine and using products that work well for me.

Therefore, I don't see the need to invest in a new product that claims to bring my hair "to life" when it is already in a satisfactory condition. I prefer to maintain a minimalistic approach to my hair care and avoid unnecessary purchases.

Secondly, I am skeptical about the guarantee of the product. Many beauty products often make exaggerated claims and promises, but not all of them deliver the expected results. I would need more concrete evidence and testimonials from reliable sources before considering purchasing a product.

Additionally, I believe that the effectiveness of hair care products varies from person to person, depending on factors such as hair type, texture, and individual needs. Without more information and assurance about the product's ingredients and how it specifically addresses my hair concerns, I would be hesitant to spend my money on it.

In summary, my decision not to purchase the product stems from my satisfaction with my current hair condition and my skepticism towards exaggerated claims without substantial evidence.

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Daffy Duct, Inc. issued 10,000 shares of $1 par value common stock at $5 per share. The effect of this transaction on the accounting equation includes a ______. (Check all that apply.) Multiple select question. $50,000 increase in total assets. $50,000 decrease in total stockholders' equity. $10,000 increase in total assets. $50,000 increase in total liabilities. $10,000 increase in total stockholders' equity. $50,000 increase in total stockholders' equity.

Answers

The effect of this transaction on the accounting equation includes a:

$50,000 increase in total stockholder's equity, $50,000 increase in total assets.

The above means that Daffy Duct received $50,000 cash in exchange for ownership in common stock (10,000 shares at $5 each).  

Asset is what the company owns, while Equity (the difference between assets and liabilities or what it owes to the owners)

In the light of the above ,there is an increase in assets and increase the stockholder's equity.

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Bill wants to prepare his own taxes but wants a bit more guidance. He wants to file taxes without having to spend much money. What is his BEST option for filing taxes?

A. Prepare his taxes on her own.

B. Prepare his taxes with using an electronic tax program.

C. Hire someone to prepare his taxes.

Answers

Answer: B. Prepare his taxes with using an electronic tax program.

Explanation: had this question and got it correct!

Firm-Specific Risk Definition
A firm-specific risk is the unsystematic risk associated with a specific investment in a firm that is completely diversifiable as per the theory of finance. Under this risk, the investor can lower their risk by increasing the number of investments they have in their portfolio.

Answers

Unsystematic risk is diversifiable, therefore you can reduce this risk in your investments by buying shares of numerous companies that operate in a range of industries.

What Is  Unsystematic Risk: ?

Unsystematic risk is a sort of risk unique to a given industry or organization. Other names for it include nonsystematic risk, specific risk, diversifiable risk, and residual risk. In the context of an investment portfolio, diversification lowers unsystematic risk. Unsystematic risk, also referred to as company-specific risk, is an investment-related risk.

Unsystematic risk is also known as diversifiable risk because it can be diminished through diversification.

Even with diversification, investors still face systemic market risk.

Total risk is the sum of systematic and unsystematic risk.

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At the beginning of the period, the Cutting Department budgeted direct labor of $52,350 and supervisor salaries of $42,150 for 3,490 hours of production. The department actually completed 3,800 hours of production. Determine the budget for the department assuming that it uses flexible budgeting.

Answers

Answer:

$77,000

Explanation:

Direct Labor = $52,350 (Its varies with the number of Production hours). Hence, $52,350   for 3,490 hours

For 3,800 hours, (52,350/3,490) * 3,800 = $57,000

Supervisor Salaries = $20,000 (Since the Supervisor Salary is not an incremental cost, it is a fixed one). So, the Supervisor Salaries remain $20,000

Net budget (flexible) = $57,000 + $20,000

Net budget (flexible) = $77,000

The information gathered from comparing an employee's work to an established is a performance appraisal.

Answers

The process of comparing an employee's work to an established standard is known as a performance appraisal.

A performance appraisal is a systematic evaluation of an employee's job performance, skills, and behavior in relation to pre-determined criteria or standards. It involves assessing an employee's performance in various areas, such as job knowledge, productivity, quality of work, communication skills, teamwork, and adherence to company policies and values.

The purpose of a performance appraisal is to provide feedback to employees regarding their strengths, areas for improvement, and overall performance. It serves as a tool for measuring and monitoring employee performance, identifying training and development needs, making decisions related to promotions or rewards, and facilitating communication between employees and managers.

Performance appraisals can take various forms, including formal annual or semi-annual evaluations, ongoing feedback sessions, self-assessments, and peer evaluations. The gathered information from the performance appraisal is used to make informed decisions regarding performance management, career development, and employee recognition or corrective actions.

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I NEED HELP!!!!!!!!!!!!!!!!!!

I NEED HELP!!!!!!!!!!!!!!!!!!

Answers

Answer:

I am not home, I'm at church service will return home on Tuesday

gross domestic product is the sum of the market value of the:

Answers

Answer:

The Gross Domestic Product measures the value of economic activity within a country. Strictly defined, GDP is the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time.

Explanation:

Kellogg company (k) manufactures cold cereal products, such as frosted flakes. assume that the inventory in process on march 1 for the packing department included 1,200 pounds of cereal in the packing machine hopper (enough for 800 24-oz. boxes) and 800 empty 24-oz. boxes held in the package carousel of the packing machine. during march, 65,400 boxes of 24-oz. cereal were packaged. conversion costs are incurred when a box is filled with cereal. on march 31, the packing machine hopper held 900 pounds of cereal, and the package carousel held 600 empty 24-oz. (-pound) boxes. assume that once a box is filled with cereal, it is immediately transferred to the finished goods warehouse.

required:
determine the equivalent units of production for cereal, boxes, and conversion costs for march.

Answers

The equivalent units of production for cereal, Boxes and conversion costs for march are: 97,800, 65,200, 65,400.

Equivalent units of production

Cereal (pounds)              

Inventory in process  0

(1200x0% )

Started and completed in march 96,900

(65400×1.5-1200)

Transfer to finished goods 96,900

(0+96,900)

Inventory in process 900

(900×100%)

Total 97,800

(96,900+900)

Boxes (boxes)  

Inventory in process 0

(800x0%)

Started and completed in march 64,600

[(65400-600)×100%]

Transfer to finished goods 64,600

(0+64,600)

Inventory in process 600

(600×100%)

Total  65,200

(64,600+600)

Conversion cost ( boxes)

Inventory in process  800

(800 x 100%)

Started and completed  64,600

[(65400–800) x100%]

Transfer to finished goods 65,400

(800+64,600)

Inventory in process 0

Total 65,400

(65,400+0)

Therefore the equivalent units of production for cereal, Boxes and conversion costs for march are: 97,800, 65,200, 65,400.

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Pompeii, Inc., has sales of $53,000, costs of $24,200, depreciation expense of $2,550, and interest expense of $2,300. If the tax rate is 24 percent, what is the operating cash flow, or OCF

Answers

Answer:

$23,052

Explanation:

The computation of operating cash flow is shown below:-

Before that we have to determine the net income which is

Income statement

Sales $53,000

Cost ($24,200)

Depreciation ($2,550)

EBIT $26,250

Interest expense ($2,300)

Earnings before tax $23,950

Tax (5,748)

(24% × $23,950)

Net income $18,202

Now,

Operating cash flow = EBIT + Depreciation - Tax

= $26,250 + 2,550 - $5,748

= $23,052

All processes and functional areas participate in the reengineering efforts of a firm.a. Trueb. False

Answers

True. The participation and collaboration of all business processes and functional domains is necessary for a reengineering initiative to be effective. This makes sure that every part of the business.

By restructuring an organization's key business processes, the business process reengineering (BPR) technique seeks to fundamentally alter how it operates. It entails thoroughly rethinking and rebuilding current processes in order to increase productivity, quality, and customer happiness while lowering costs and cycle times.Organizations may need to rearrange their structure, technology, and work culture as a result of reengineering, which often includes a radical approach to change. It frequently calls for input from cross-functional teams and concentrates on attaining a notable increase in performance. Reengineering may aid businesses in bettering their competitiveness, increasing their Trueb.

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