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coldgirl [10]
2 years ago
10

It's time for another financial calculator problem. A UCF student (who has not taken FIN 2100) decides that he really needs a la

rge screen HD TV for football season. The student goes to a "rent to own" center and agrees to rent a TV for $60 per month (end of month). After 36 months, the student will own the TV. Assuming that the student could buy the same TV today for $1,000, what is the interest rate (APR) of renting the TV?
a. 51%
b. 43%
c. 33%
d. 23%
e. None of the above
Business
1 answer:
Alchen [17]2 years ago
5 0

Answer:

The answer is: E) None of the above

Explanation:

Using an excel spreadsheet and the RATE function, we can calculate the monthly interest rate of renting the TV:

=RATE(36,-60,1000)

= 4.94% monthly interest rate

Then we multiply the monthly interest rate by twelve to get the APR:

APR = 4.94% x 12 = 59.3%

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Vera_Pavlovna [14]

When using the​ "addition rule" always be careful to avoid​ double-counting outcomes.

At the point when two occasions, A and B, are mutually unrelated, the likelihood that A or B will happen is the total of the probability of every occasion. The addition rule for probabilities portrays two formulas, one for the likelihood for both of two totally unrelated occasions occurring and the other for the likelihood of two non-commonly occasions occurring.  

6 0
2 years ago
Materials costs of $600,000 and conversion costs of $642,600 were charged to a processing department in the month of September.
inn [45]

Answer:Manufacturing costs assigned to completed units  = $1143192

Explanation:

Material Costs = $600 000 (added at the beginning)

Conversion costs = $642600 incurred uniformly through out the process

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Units completed = 100 000 - 8000 = 92000 units

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3 0
2 years ago
Lisa is choosing between three alternatives: a) working at her job that pays 60 dollars; b) writing a term paper which she value
mihalych1998 [28]

Answer:

80 dollars. 

Explanation:

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I hope my answer helps you

7 0
2 years ago
The capital budgeting method that takes into account both the size of the original investment and the discounted cash flows is t
VladimirAG [237]

Answer:

Option D (profitability index) is the correct choice.

Explanation:

Options aren't mentioned in the issue above. Please find the full query attachment here.  

Capital budgeting seems to be the mechanism whereby the creditors assess the value of a future investment project. This corresponds to something like the timeframe by which the planned project can produce adequate income to regain the original investment.

<u>The 3 most prevalent frameworks to contractor choosing are given below:</u>

  • Payback period.
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Some other choices have no relation with the specified scenario. So that the option here is just the appropriate ones.

8 0
2 years ago
In september of 1985, the british music industry reports that paul's beatles song ______________ has been broadcast over four mi
Alborosie

Answer:

"Yesterday"

Explanation:

The song Yesterday was released by the Beatles in 1965 on the album "Help!"

8 0
2 years ago
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