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lord [1]
2 years ago
11

You want to borrow $115,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $2,250, but n

o more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan
Business
1 answer:
Alex787 [66]2 years ago
7 0

Answer:

APR 6.498%

Explanation:

We solve for rate using excel goal seek

we write on A1:

=PV(A2;60;2,250)

Now, on A2 wirite any number as a placeholder

Last we use goal seak tool to make the A1 value of 115,000 changin A2 (which is the rate)

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 2,250.00

time 60

rate 0.00541501

2250 \times \frac{1-(1+0.00541501038042548)^{-60} }{0.00541501038042548} = PV\\

PV $115,000.0007

now, this rate will be monthly so we multiply by 12

0.00541501 x 12 = 0,06498012‬ = 6.498%

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Tanner, Inc. incurred a financial and taxable loss for 2018. Tanner therefore decided to use the carryback provisions as it had
jeka94

Answer:

Carry-back should be reported as a benefit

Explanation:

Tanner, Inc. is a company which has suffered a loss in 2018, and they have planned to use carry-back provisions because they generated profit. It is compulsory to report the provision in the 2018 financial statement. Overall, tanner, Inc. must report carry-back profits as a benefit in 2018 financial statement, because of the loss they received in 2018.

8 0
2 years ago
Suppose both the demand for and supply of salsa increase (although not necessarily by the same amount). What can we conclude abo
klasskru [66]

Answer:

If both demand and supply increase by the same amount, the output level will increase while price will remain same.

If increase in demand is greater than increase in price then price and output both will increase.

If increase in supply is greater than increase in demand, price will decline while output will increase.

Explanation:

The changes in the price and quantity of salsa depending on the degree of change in supply and demand. In case both the variables increase by the same proportion, the price will remain the same while quantity will increase.

In case the increase in demand is more than increase in supply it would cause the price to increase because of excess demand. At the same time, the quantity will increase as well.

In case the increase in supply is more than increase in demand, the price will fall due to excess supply. The output will increase as well.

3 0
2 years ago
John, a line supervisor, has decided to increase Kerry's responsibilities by delegating more work to her station. what is the fi
melomori [17]
<h2>Clarify the assignment would be the first step john should take to increase Kerry's responsibilities.</h2>

Explanation:

Option A: If a new work is assigned or an additional work is assigned, it is necessary to first explain about the new responsibility and clarify about the assignment. This would ensure Kerry to continue the work smoothly.

Option B: Feedback is always welcome but this is not the first step to add responsibilities.

Option C: Notifying others is the responsibility of John and not Kerry. So this choice is invalid.

Option D: Accountability though it is mandatory comes only in the closure part.

7 0
2 years ago
U Do It Centers deposited $3,200 in an account two years ago and is depositing another $5,000 today. A final deposit of $3,500 w
GaryK [48]

Answer:

Total= $13,221.52

Explanation:

Giving the following information:

Deposited $3,200 in an account two years ago and is depositing another $5,000 today.

A final deposit of $3,500 will be made one year from now.

Interest expense= 4.85% compounded annually.

We need to calculate the final value of each deposit using the following formula:

FV= PV*(1+i)^n

First deposit= 3,200*(1.0485^5)= $4,055.01

Second deposit= 5,000*(1.0485^2)= $5,496.76

Third deposit= 3,500*(1.0485)= $3,669.75

Total= $13,221.52

4 0
2 years ago
On January 1, Year 1, Boston Group issued $100,000 par value, 5% 5-year bonds when the market rate of interest was 8%. Interest
maks197457 [2]
Would have to say the answer is B
8 0
2 years ago
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