you
are planning to purchase a car today on credit for 5 years . the
price of the car is 500,000 . The interest rate that is offered to
you is 10% . How much are you going to pay each month .
Answers
The monthly payment for a car purchased on credit for 5 years with a price of 500,000 and an interest rate of 10% would be approximately 10,640.77.
To determine the monthly payment, we need to use a loan repayment formula. One common formula is the amortization formula. It calculates the fixed monthly payment required to pay off the loan over a specified period of time. The formula is:
Monthly Payment = (Loan Amount × Monthly Interest Rate) / (1 - \((1 + Monthly Interest Rate)^{(-Number of Months)}\))
In this case, the loan amount is 500,000, the interest rate is 10% (or 0.10), and the loan term is 5 years (or 60 months).
Plugging in the values into the formula, we can calculate the monthly payment:
Monthly Interest Rate = 0.10 / 12 = 0.00833 (approx.)
Monthly Payment = (500,000 × 0.00833) / (1 - \((1 + 0.00833)^{(-60)}\)) ≈ 10,640.77
Therefore, the monthly payment for the car loan would be approximately 10,640.77. This means that you would need to pay around 10,640.77 each month for 5 years to fully repay the loan, including principal and interest.
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Related Questions
abm reports annual sales of $20 million, cost of goods sold of $6 million, inventory of $5 million, and net income of $2 million. what is abm’s monthly inventory turns?
Answers
ABM's monthly inventory turns are approximately 0.1 times. This means that, on average, ABM sells and replaces its entire inventory about 0.1 times per month.
First, let's understand the terms related to inventory turns:
1. Inventory Turnover: A ratio that measures how many times a company has sold and replaced inventory during a period.
2. Cost of Goods Sold (COGS): The total cost of producing goods that were sold during a period.
3. Inventory: The total value of goods that a company has in stock at a specific time.
Now, let's calculate ABM's monthly inventory turns using the given information:
Step 1: Calculate the Annual Inventory Turnover
Annual Inventory Turnover = COGS / Average Inventory
Annual Inventory Turnover = $6 million / $5 million
Annual Inventory Turnover = 1.2 times
Step 2: Calculate the Monthly Inventory Turnover
Since there are 12 months in a year, we can divide the annual inventory turnover by 12 to get the monthly inventory turnover.
Monthly Inventory Turnover = Annual Inventory Turnover / 12
Monthly Inventory Turnover = 1.2 times / 12
Monthly Inventory Turnover ≈ 0.1 times
So, ABM's monthly inventory turns are approximately 0.1 times. This means that, on average, ABM sells and replaces its entire inventory about 0.1 times per month. A higher inventory turnover typically indicates efficient inventory management and strong sales performance, while a lower turnover may suggest poor sales or excess inventory.
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Select all of the benefits to buying a home.
Answers
Answer:
The value of the home generally increases over time
The quality of your home increases
Once the mortgage is paid in full you own the home
You can make improvements in the place
Lightskins or Darkskins
Or Other ?
Answers
Answer:
any kind of boy
Explanation:
I have no type
acbc mfg co has estimated breakeven volume of 40,000 units. what is the unit variable cost (including commission)
Answers
acbc mfg co has estimated breakeven volume of 40,000 units. what is the unit variable cost (including commission)- $21.00
what is unit variable cost?
Unit Variable Cost: What Is It? The cost of each unit of goods that a firm produces is referred to as variable cost per unit. Variable costs alter as changes take place in the company's level of production or activity. Raw materials, piece-rate labor, production supplies, commissions, shipping expenses, packing costs, and credit card fees are a few examples of variable costs. The "Cost of Goods Sold" is the name given to the variable costs of production in some accounting statements. A variable cost is an ongoing expense whose value varies depending on variables like output and sales income. Labor, raw materials, and distribution costs are examples of variable costs.
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Rising interest rates have made borrowing more costly to consumers. As a result
of the most recent increase in interest rates, borrowing and consumption have
fallen throughout the economy, triggering a contractionary period. Growing
uneasy, citizens have been asking Congress to make an official statement as to
how long this contractionary period is expected to last. Which of the following is
an appropriate response?
Answers
Answer:
it depends on the measures taken to ensure that economy is stable.
Answer:
1. it is difficult to say since contractionary periods have varying lengths in different business cycles.
2. shock
3. high unemployment
4. two
5. expansion stage of the business cycle
Explanation:
just took it
The United States has raised the taxes on tomatoes imported from Mexico. These taxes are an example of a(n) Group of answer choices subsidy referendum antidumping policy. local content requirement. tariff.
Answers
The taxes by the United States are an example of tariff.
Where does the US get tomatoes?
The country of Mexico is known to be the leading exporter of fresh tomatoes to the United States.
A tariff is known to be the tax imposed by a country on the goods and services that is been imported from another country.
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What are the factors of stability that make up political risk unit of measure?
I. Strengths against shocks
II. Shock absorbers
III. Shocks themselves
A. I only
B. II only
C. III only
D. I and II
E. II and III
F. I and III
G. I, II, and III
Answers
Option F is correct, the factors of stability that make up the political risk unit of measure are: - I. Strength against shocks and III. Shock themselves.
A political risk is a form of hazard faced by traders, agencies, and governments that political selections, occasions, or conditions will substantially affect the profitability of a business actor or the expected cost of a given monetary motion. The political threat may be understood and managed with reasoned foresight and funding.
The time period of political risk has had many special meanings over time. widely speaking, however, political chance refers to the headaches organizations and governments may also face as a result of what is usually referred to as political choices—or "any political alternate that alters the expected final results and cost of a given monetary movement through changing the opportunity of attaining commercial enterprise goals".
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peavey enterprises purchased a depreciable asset for $26,500 on april 1, year 1. the asset will be depreciated using the straight-line method over its four-year useful life. assuming the asset's salvage value is $2,900, what will be the amount of accumulated depreciation on this asset on december 31, year 3? multiple choice $19,667 $23,600 $16,225 $4,917 $5,900
Answers
The amount of accumulated depreciation on the depreciable asset on December 31, Year 3 will be $16,225. Therefore, the correct answer is $16,225.
Depreciation is a method of accounting for the declining value of an asset over time. The straight-line method is one of the most common methods for calculating depreciation. It allocates an equal amount of depreciation each year of the asset's useful life.
Using the straight-line method, we calculate annual depreciation by subtracting the salvage value of the asset from its purchase price, then dividing by the useful life of the asset: Annual Depreciation = (Purchase Price - Salvage Value) / Useful Life Annual Depreciation = ($26,500 - $2,900) / 4 = $6,150
The prorated depreciation for Year 1 is:Prorated Depreciation for Year 1 = Annual Depreciation x (Number of Months in Service / 12) Prorated Depreciation for Year 1 = $6,150 x (9 / 12) = $4,613. The total accumulated depreciation at the end of Year 3 is : Accumulated Depreciation on December 31, Year 3 = $4,613 + $6,150 + $6,150 = $16,225Therefore, the correct answer is $16,225.
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how long did it take workers at willow run to assemble a long-range bomber?
Answers
Workers at Willow Run, a factory in Michigan during World War II, were involved in the mass production of the B-24 Liberator long-range bombers.
The assembly time for a single B-24 Liberator at Willow Run varied over the course of the war due to improvements in production processes and worker efficiency. Initially, the assembly time for a single B-24 Liberator at Willow Run was around 1,440 man-hours, but this was eventually reduced to approximately 354, and later to 300 man-hours per aircraft. The production time was significantly shortened as the factory and workers became more experienced and efficient.
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How do countries develop a comparative advantage over their trading
partners?
A. By producing more essential goods than other countries
B. By reducing their reliance on foreign trade for essential goods
C. By lowering the trade deficits they have with their neighbors
D. By having lower opportunity costs for producing certain goods
Answers
Answer:
D
Explanation:
Comparative advantage is the capacity to deliver goods at a lower opportunity cost than its competitor.
What are comparative advantages?It is an economy's capacity to deliver specific goods or services at a lower opportunity cost than its competitor.
To develop comparative advantages it should manufacture/produce goods at lower opportunity costs.
Therefore, option D explains the comparative advantages.
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What is location analysis
Answers
Answer:
Location analysis is a technique for discovering, assessing and specifying the optimal placement of an organization's people, information, activities, and materials.Location models are key in performing location analysis by providing a well-documented common vision of current and desired location arrangements.
Analyse the implications to Mr Flake’s business if: In May and June Mr Flake fell ill and he had to pay somebody else £1200 a month to run the business as well as himself? Answer: He received 6 more party bookings for September?
Answers
Answer:
1. Paying somebody else and himself represent cash outflow.
2. Party bookings represents forecasted cash inflow.
Explanation:
Remember, a cash flow shows where money is coming from into the accounts of a business and where money goes to from the accounts of the business. Inflows represent credit transactions into the business account, while the outflows represents debit transactions to external sources.
Thus, paying somebody else £1200 a month to run the business as well as himself (Mr Flake) both represents outflow of cash from his ice-cream business. But the 6 more party bookings for September represents cash inflows since he will be receiving a pay from the clients.
If quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium?
The supply needs to increase
The price needs to decrease (answer edg)
The price needs to increase
The demand needs to increase
Answers
The supply needs to increase, to achieve equilibrium If quantity demanded exceeds quantity supplied.
Hence, the correct answer is a. The supply needs to increase.
Demand?Demand is the consumer's intention to buy a certain item or service. Market demand is the desire for a certain item in the market. The entire demand for goods and services across the economy is known as aggregate demand.
The price of the commodity or service is determined by how well supply and demand match. comprehending the idea of demand.
Economic demand is the quantity of customers eager to buy products or services at a specific price. The opposing force to demand is supply.
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Describe the four steps involved with product development.
Answers
Answer:
4 sequential steps in product development
The 4 steps in new product development process to turn your idea into a product
Ideation and Research. Every great product was once just an idea, an itch, a frustration the founder had with the existing status quo. ...
Strategic Planning. ...
3. Development and Testing. ...
Launch and Commercialization.
Explanation:
what three factors determine a product’s elasticity?
Answers
The presence of alternatives, how much of a portion of people's income goes towards the cost of the commodity, and the passage of time all affect how elasticity demand is. Since people have more options when there are more replacements.
They are more sensitive to price changes. Several variables, including the availability of substitutes, the timescale, the percentage of income, whether a commodity is a luxury or a necessity, and how narrowly the market is defined, can influence how elastic (or inelastic) the price elasticity of demand is. Elasticity declines as temperature rises. Depending on the impurity supplied, metal's elasticity may alter.
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Which is the preferred method of payment for making a hotel room reservation?
Answers
While using a debit card increases the speed and efficiency of business transactions, what effect can this have on a person's money management skills?
Answers
The person can set his or her financial goal and this will result in preplanning the funds. This makes the platform an easy target to transact with and more efficient.
What is a financial goal?A financial goal is an objective or plan for handling money. It is a function of how much money you make, spend, save, or invest. Depending on their need for a financial objective, such as pension planning, a person or individual might define their own financial goals.
The person who is a using debit card or a credit card. This would help the person in maintaining their efficiency and a budget. They can even set a limit through which they can be allowed to transit.
Also, they can use ODIs which is overdraft as well as bills receivable. This would increase their efficiency and money management.
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monetarists believe that changes in the supply of money a. affect aggregate demand directly. b. do not affect aggregate demand. c. affect aggregate demand through the loanable funds market only. d. affect only the investment component of aggregate demand.
Answers
Monetarists believe that changes in the supply of money affect aggregate demand directly. Option A
Monetarism is an economic theory that emphasizes the role of money supply in the economy. According to monetarists, the supply of money directly affects the level of aggregate demand in the economy.
They argue that an increase in the money supply leads to an increase in spending, while a decrease in the money supply leads to a decrease in spending. Therefore, the monetarist theory suggests that controlling the money supply is an effective way to stabilize the economy and control inflation.
Monetarists believe that changes in the money supply affect aggregate demand because money is the medium of exchange used in transactions. An increase in the money supply lowers the cost of borrowing, which encourages more investment and consumption, leading to higher aggregate demand.
Conversely, a decrease in the money supply raises the cost of borrowing, which reduces investment and consumption, leading to lower aggregate demand.
Overall, monetarists view the money supply as a critical tool for macroeconomic stabilization, and they advocate for monetary policy to be used to manage the money supply to achieve stable economic growth and control inflation. Option A is correct.
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List the importance of market in 3 points. Its urgent
Answers
Answer:
The importance of marketing for your business is that it makes the customers aware of your products or services, engages them, and helps them make the buying decision. Furthermore, a marketing plan, a part of your business plan helps in creating and maintaining demand, relevance, reputation, competition,
Explanation:
Has big brain
Answer: critical in price formation, liquidity transformation and allowing firms to service the needs of their clients.
Explanation: Markets are important. They are the mechanism through which shares in companies are bought and sold, and they give businesses access to cash. Markets are critical in price formation, liquidity transformation and allowing firms to service the needs of their clients.
Jordan is living out the american dream; at long last he is ready to purchase his dream home, a two-story house in a modern, happening suburb just outside los angeles. Before he can purchase the house, though, he needs a loan. At the loan office, a credit check is performed on jordan despite the fact that he insists that he is fiscally responsible. The loan office discovers that jordan has bad credit due to unpaid credit card bills and refuses to give him a loan, dashing his dreams of his first home. This credit check is an example of moral hazard. Signaling. Screening. A sin tax
Answers
This credit check is an example of screening by the company given that a credit check is being performed on Jordan. Option 3
What is a credit check?A credit check, sometimes referred to as a credit search, is when a business examines data from your credit report to comprehend your spending patterns. Although they don't always require your permission to do this, they must have a good reason (e.g. you applied for a loan with them).
Your credit reports detail the kinds of credit accounts you've had, your payment history, and other details including your credit limitations.
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what is walmart's days’ sales in inventory ratio for the year of 2018 (round it to 3 numbers after the decimal point -> 0.112)?
Answers
The Days' Sales in Inventory ratio for Walmart in 2018 is approximately 0.112.
The Days' Sales in Inventory ratio is a financial metric that assesses the efficiency of inventory management by measuring the number of days it takes for a company to sell its inventory. In this case, Walmart's ratio of 0.112 indicates that, on average, it takes approximately 0.112 days for Walmart to sell its inventory during the year of 2018.
This ratio is calculated by dividing the average inventory value during the period by the cost of goods sold (COGS) and multiplying the result by 365 (the number of days in a year). A lower ratio signifies faster inventory turnover, indicating efficient inventory management and potentially healthier cash flow.
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Which of the following is not one of the strategic ways a company can establish a competitive
presence in foreign markets? ⢠A. Relying on strategic alliances or joint ventures with foreign companies as the primary vehicle
for entering foreign markets
b. Relying upon acquisitions or internal startup ventures to gain entry into foreign markets ⢠Employing a multiple cross-country strategy that involves strategic alliances, joint ventures,
and other cooperative agreements with foreign companies C. Maintaining a national (one-country) production base and exporting goods to foreign markets
d. Licensing foreign firms to produce and distribute the company's products or to use the
company's technology
Answers
The following is not one of the strategic methods a firm might build a competitive presence in international markets: relying on strategic alliances or joint ventures with foreign corporations as the principal vehicle for entry. Option A is Correct.
It is not the goal of a strategic alliance to establish fixed prices inside a given sector, but rather to acquire advantages via partnering with another organisation.
Strategic partnerships come in three different flavours: joint ventures, equity alliances, and non-equity alliances. Through strategic alliances, businesses are able to pool complementary talents and resources that neither organisation could easily develop independently. Option A is Correct.
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how do i get an egg out of my fridge????? HELP NEED TO KNOW ASAP
Answers
Answer:
open fridge!!!
Explanation:
STEP 1: open fridge
STEP 2: find the egg then grab with hand!!!!!!!!
(Its really hard!!)
Question - Integrators/4PLs are a recent and growing
intermediary. Please support this statement with your
explanation.
Answers
Fourth-party logistics providers, commonly referred to as integrators/4PLs, are a relatively new and expanding type of logistics sector intermediary.
The complexity of global supply chains is one important element behind the growth of integrators/4PLs. Managing multiple suppliers, transportation options, and legal requirements has grown more difficult as organisations expand their operations abroad. By integrating and optimising various facets of the supply chain, such as purchasing, warehousing, transportation, and information management, integrators/4PLs provide a comprehensive solution. Technology developments have also aided the expansion of integrators/4PLs. These companies use automation, artificial intelligence, and advanced data analytics to acquire real-time supply chain awareness, spot bottlenecks,
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the gilded age marketplace proved to be chaotic as businesses in all industries engaged in ruthless competition. in response to this chaos, many businesses created trusts—legal devices whereby the affairs of several companies were managed by a single director.
Answers
It's true to say the gilded age marketplace proved to be chaotic as businesses in all industries engaged in ruthless competition. in response to this chaos, many businesses created trustes legal devices whereby the affairs of several companies were managed by a single director.
What was the Gilded Age?It corresponds to a period of American history between 1877 and 1900, with rapid economic development in the country motivated by the Progressive Era and Reconstruction.
Therefore, despite great industrial growth, jobs and higher wages, this period was also marked by great social inequality also generated by large European immigration.
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1: List three policy making groups of the Federal Reserve?
2: which banks are members of the fed?
3: the fed is owned by?
Answers
Answer:1- the board of governors, the federal reserve bank also know
as ( Reserve bank), And the federal open market committee
2- Approximately 38 percent of the 8,039 commercial banks in the United States are members of the Federal Reserve System.
3- The Federal Reserve System is not "owned" by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank.
Explanation:
idk answer might Be wrong
what international monetary system did the dollar standard replace? a. currency basket standard b. ruble standard c. pound standard d. gold standard
Answers
The dollar standard replaced the gold standard as the international monetary system after World War II. So, the correct option is d. gold standard.
Prior to the adoption of the dollar standard, countries used gold as a means of settling international transactions. However, the gold standard was seen as unstable and inflexible, especially during the Great Depression, which led to countries abandoning the gold standard.
The Bretton Woods Agreement of 1944 established the dollar standard, which made the US dollar the world's reserve currency and tied it to gold at a fixed rate. Under this system, countries could exchange their dollars for gold at the US Treasury, which provided stability for international trade and finance.
However, the dollar standard eventually collapsed in the 1970s due to inflation and the US's inability to maintain the fixed exchange rate, leading to the emergence of a floating exchange rate system.
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There is a growing movement in the United States led by the progressive wing of the Democratic Party to have the federal minimum wage raised to $15/hr. Some people agree with the $15/hr minimum wage for the United States, while others oppose raising the minimum wage. The arguments against raising the minimum wage range from the government should not dictate salaries to it will cause low wage workers to lose their jobs since businesses cannot afford a $15/hr minimum wage.
Do you agree with a $15/hr federal minimum wage? The current federal minimum wage in the United States is $7.25/hr. Fully explain your position on this issue in 2 - 3 paragraphs.
Source: Surviving an Unlivable Wage l Full Documentary (Financial Literacy)
Answers
In my opinion, minimum wage should be increased because an increase in minimum wage would reduce poverty, increase consumer spending, and promote economic growth.
Why Should Minimum Wage be Increased?Minimum wage has not kept pace with inflation, and that the current federal minimum wage of $7.25/hr is not a living wage in most parts of the United States. A $15/hr minimum wage would provide a more realistic living wage for many low-wage workers, but there is disagreement on whether this should be achieved through federal legislation or through individual state action.
Ultimately, whether or not to raise the minimum wage is a complex issue that involves balancing the needs of workers, businesses, and the overall economy. It is important for policymakers to carefully consider the potential impacts of any minimum wage increase and to find ways to support low-wage workers without unduly burdening businesses.
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which of the following refers to the amount of information that can be transmitted during a communication episode?
Answers
The phrase "channel capacity" refers to the volume of data that can be transmitted during a communication event. The greatest speed at which data or information can be safely sent across a communication channel is referred to as channel capacity.
It is affected by a number of variables, including the amount of available bandwidth, the signal-to-noise ratio, and the encoding method employed. In essence, channel capacity establishes the maximum amount of data that may be transmitted in a given amount of time. Increased channel capacity can be achieved with the aid of appropriate coding and modulation techniques, enabling larger data rates and more efficient communication.
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Staples pays George Nagovsky an annual salary of $37,200. Today, George's boss informs him that he will receive a $5,500 raise. What percent of George's old salary is the $5,500 raise? (Round to the nearest tenth percent.)
Answers
Answer:
the percentage is 14.79%
Explanation:
The computation of the percentage is shown below:
= Raise salary ÷ annual salary
= $5,500 ÷ $37,200
= 14.79%
Hence, the percentage is 14.79%
We simply applied the above formula so that the correct percentage could arrive