Answer:
total finance charge = $203.08
her monthly payment = $105.13
Explanation:
The Loan amount = Cost of Appliance - Down Payment
= $2,900 - ($2,900 × 20%)
= $2,320
Change the APR to nominal compounding,
Using a Financial Calculator, this will be :
8.50 % Shift EFF%
12 Shift P/YR
Shift NOM % = 8.19%
Then calculate the <em>monthly payment</em> as follows :
Pv = $2,320
n = 24
p/yr = 12
r = 8.19%
Fv = $0
PMT = ?
Using a Financial Calculator, monthly payment, PMT is $105.13
Total Finance Charge will then be obtained from the amortization schedule from the First Period to the 24th Period and this will be : $203.08.
Answer:
$14,016 favorable
Explanation:
The computation of the raw materials price variance is shown below:
= Actual Quantity × (Standard Price - Actual Price)
= 23,360 liters × ($5.40 - $4.80)
= 23,360 liters × $0.6
= $14,016 favorable
We simply deduct the actual price from the standard price and then multiplied it by the actual quantity so that actual value can come
Answer:
$532,000
Explanation:
The opportunity cost is the cost of the best option rejected.
In this case the option rejected was the investment project that would have returned a total fo 532,000
Therefore, the model 240 should produce a higher profit than 532,000 to reject his project.
The 310 model would have unused capacity as it has more capacity than model 240 but the company will not need to produce as much. So it is discarted from the calculation as it has inefficiency
Cash Discounts. Cash discounts is a decrease in value
offered to a buyer or a marketing negotiator in return for rapid compensation
of a bill. Cash discounts encourages/motivates users or customers to buy the
specific product to be paid within a specific time.
A tradeoff is a balance achieved between two desirable but incompatible feature. So the reasonable answer would be B
