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2 years ago

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After graduating this May, Dale is planning on buying a new Ferrari for $250,000. He decides to finance his new car with a 5 yea

r loan from Citibank with a 12% interest rate. His annual payment is $48,986. What will Dale's principal payment be at the end of the first year? Group of answer choices a) $5879 b) $10000 c) $18986 d) $50000.

1 answer:

jek_recluse [69]2 years ago

3 0

Answer:

c) $18,986

Explanation:

The computation of the payment of principal is shown below:

= Annual payment - (Balance of Principal × interest rate)

= $48,986 - ($250,000 × 12%)

= $48,986 - $30,000

= $18,986

We do not consider the time period. Hence, we ignored it as it is not relevant for the computation part.

We simply multiply the principal balance with the interest rate and then deduct it from the annual payment.

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Ksivusya [100]

3)

Jorge Rodrigues annual salary is:

$S=\$48,000$

We know that 1 year consists of 12 months, so the gross wage per month can be obtained by dividing the annual salary by 12:

$\frac{S}{m}=\frac{48,000}{12}=\$4,000$

1 year also contains 52 weeks, so the gross wage per week is obtained by dividing the annual salary by 52:

$\frac{S}{w}=\frac{48,000}{52}=\$923$

Finally, 1 year contains 26 bi-week periods, so the gross wage per bi-week period is:

$\frac{S}{b}=\frac{48,000}{26}=\$1846$

4)

In this part, we know that Lexi's salary per month is:

$s=\$1600$

We know that 1 year consists of 12 months: therefore, the annual salary contains 12 monthly salary, so we can write

$S=ns$

where

n = 12 is the number of months

S is the annual salary

Substituting s, we find:

$S=(12)(1600)=\$19,200$

5)

Here the Monthly salary of Ryo is

$s=\$2200$

So her annual salary is the monthly salary multiplied by 12:

$S=ns=(12)(2200)=\$26,400$

Then Ryo has been offered a raise of $250 per month, so her new salary per month will be

$s'=2200+250=\$2450$

Therefore, her new annual salary will be

$S'=ns'=(12)(2450)=\$29,400$

So, the amount that Ryo will earn more per year is:

$\Delta S=S'-S=29,400-26400=\$3000$

6)

Being paid salary means that we are paid with a fixed regular payment, usually paid every month.

Being paid by hourly rate instead means that we are paid a fixed amount for every hour of work: therefore, the total monthly salary will depend on the number of hours of work.

Therefore, the main advantages/disadvantages are the following:

- Advantage of being paid salary: the payment is fixed, therefore it is independent on the number of hours worked - so even if one month we work less hours, we still receive the same pay

- Disadvantages: the salary is fixed and cannot be increased by working more - in fact, in the hourly payment, by working more hours it is possible to earn more.

7)

In this problem, the amount of the check in the restaurant is

$c=\$340$

The customer decides to leave a 20% tip, which corresponds to $\frac{20}{100}$ of the amount of check.

Therefore, we can write the amount of the tip left as

$t=\frac{20}{100}c$

Simplifying, we get

$t=\frac{1}{5}c$

And by substituting c = 340, we find the tip left:

$t=\frac{1}{5}(340)=\$68$

8)

In this problem, Sandra is paid per day.

Her pay per day is

$d=\$95$

Which means that she is paid 95 dollars per day.

In this month, Sandra has worked for

n = 22 days

Therefore her total earning for this month will be

$T=nd$

and substituting n = 22 and d = 95, we find:

$T=(22)(95)=\$2090$

9)

First of all, we have to find the total number of pieces produced by summing the number of pieces produced each day.

For Zinke, the total number of pieces produced is:

n = 54 + 55 + 59 + 62+ 60 = 290

The price per piece produced is

p = $1.60

Therefore, the gross pay is equal to the number of pieces times the price per piece:

$P=np=(290)(1.60)=\$464$

Then we have to repeat the exercise for Bello. The total number of pieces produced is:

n = 24 + 28 + 30 + 31 + 27 = 140

The price per piece is

p = $2.80

So, the gross pay is:

$P=np=(140)(2.80)=\$392$

10)

Here the fare for the whole drive was

f = $19.30

However, Steve gave the driver a total of 20$. This means that the tip gave by Steve to the driver is

$t=20\$ - 19.30\$ = 0.70\$$

Here we are asked to determine if the tip is adequate, generous or not enough. In order to evaluate this, we have to calculate what is the tip in % with respect to the fare.

It is:

$\frac{t}{f}\cdot 100 = \frac{0.70}{19.30}\cdot 100 =3.6\%$

The tip is 3.6% of the fare: therefore, the tip is not enough (an adequate tip can be considered between 10 and 20 %).

7 0

2 years ago

Pastel Company operates in the following lines of business which management believes have distinguishable return and risk charac

SSSSS [86.1K]

Answer:

A) Entertainment, Lodging, and Services

Explanation:

Under Generally Accepted Accounting Principles (GAAP), you need to follow these rules to report segment data:

If at least 10% of revenues, profit or combined assets are under one segment.
And together with the above the total revenue must overcome the 75% of the entity.

Revenues Assets Rev/Assets

Food 500 2.000 3%

Beverages 1.300 6.000 9%

Entertainment 2.500 10.000 14%

Lodging 5.000 20.000 29%

Services 22.000 28.000 41%

International 700 3.000 4%

32.000 69.000 100%

A) Entertainment, Lodging, and Services

Revenues 92% of total entity.
Assets 84% of total entity.

8 0

2 years ago

Based on beck's account, what were some of the hardships that prisoners faced on the bataan death march? check all of the boxes

nydimaria [60]

Being forced to stand in the hot sunenduring beatingscatching diseases<span>getting shot</span>

3 0

2 years ago

Read 2 more answers

Bonita Company has a factory machine with a book value of $87,800 and a remaining useful life of 5 years. It can be sold for $32

qwelly [4]

Answer: Old machine should be replaced.

Explanation:

The variable manufacturing cost will reduce by:

= 624,000 - 524,000

= $100,000

Over a period of 5 years this will be:

= 100,000 * 5

= $500,000

Selling the old machine would bring in $32,000:

= 500,000 + 32,000

= $532,000

The cost of the new machine would reduce this gross benefit by:

= 532,000 - 455,100

= $76,900

<em>Net income will increase by a total of $76,900 over the 5 year period if the new machine is bought so it should be bought. </em>

4 0

2 years ago

For the coming year, Loudermilk Inc. anticipates fixed costs of $600,000, a unit variable cost of $75, and a unit selling price

Shtirlitz [24]

Answer:

a) 4.800 units: Operational loss area (L)

12,000: Break even point (BEP)

$1,500,000: BEP

20,000 units: Operational profit area (P). Also, the maximum amount of units.

$2,500,000: Operational profit area (P). Also, the maximum amount of sales.

b) BEP: 12,000 units or $1,500,000 in sales.

Explanation:

The graph is divided in two sections:

1 - The operational loss area (L)

2 - The operational profit area (P)

The interface between both regions is the breakeven point.

a) 4.800 units: Operational loss area (L)

12,000: Break even point (BEP)

$1,500,000: BEP

20,000 units: Operational profit area (P). Also, the maximum amount of units.

$2,500,000: Operational profit area (P). Also, the maximum amount of sales.

b) The breakeven point is where sales equal total cost (or the level at which profits are zero). This breakeven point (BEP) is at 12,000 units:

$BEP=\frac{FC}{price-VC} =\frac{600,000}{125-75}=\frac{600,000}{50}=12,000$

This corresponds to $1,500,000 in sales.

$S_{BEP}=125*12,000=1,500,000$

7 0

2 years ago