Lea wishes to avail of a car loan for a car worth P 850,000. She will loan from a bank that offers 12% annual interest, compounded monthly. Determine the downpayment and the monthly amortization under the following assumptions: 15) a. Lea pays 20% downpayment and pays the remainder in 5 years. b. Lea pays 30% downpayment and pays the remainder in 4 years.
Answers
a. With a 20% downpayment and a 5-year loan, the downpayment is approximately P170,000, and the monthly amortization is approximately P14,010.96.
b. With a 30% downpayment and a 4-year loan, the downpayment is approximately P255,000, and the monthly amortization is approximately P15,260.57.
Let's calculate the downpayment and monthly amortization for each scenario:
a. 20% Downpayment and 5-Year Loan:
Downpayment:
20% of P850,000 = 0.20 * P850,000 = P170,000
Loan Amount:
P850,000 - P170,000 = P680,000
Loan Term:
5 years = 5 * 12 = 60 months
Monthly Interest Rate:
12% annual interest, compounded monthly = 12% / 12 = 1% per month
Monthly Amortization:
To calculate the monthly amortization, we can use the formula for a fixed-rate amortizing loan:
Monthly Amortization = (Loan Amount * Monthly Interest Rate) / (1 - (1 + Monthly Interest Rate)^(-Loan Term))
Plugging in the values:
Monthly Amortization = (P680,000 * 0.01) / (1 - (1 + 0.01)^(-60))
Calculating the monthly amortization using the above formula gives:
Monthly Amortization ≈ P14,010.96
b. 30% Downpayment and 4-Year Loan:
Downpayment:
30% of P850,000 = 0.30 * P850,000 = P255,000
Loan Amount:
P850,000 - P255,000 = P595,000
Loan Term:
4 years = 4 * 12 = 48 months
Monthly Interest Rate:
12% annual interest, compounded monthly = 12% / 12 = 1% per month
Monthly Amortization:
Using the same formula as above:
Monthly Amortization = (Loan Amount * Monthly Interest Rate) / (1 - (1 + Monthly Interest Rate)^(-Loan Term))
Plugging in the values:
Monthly Amortization = (P595,000 * 0.01) / (1 - (1 + 0.01)^(-48))
Calculating the monthly amortization using the above formula gives:
Monthly Amortization ≈ P15,260.57
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Related Questions
What term is designed to give the employee the freedom and opportunities to push the boundaries of their job description and to think about new and better ways to work?
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The term initiative principle was created to give employees the freedom and opportunities to push the boundaries of their job description and think about new and better ways of working.
The initiative principle is one of the 14 administration principles that was developed by Henry Fayol and corresponds to the authorization of the expression of the collaborators' ideas.
Therefore, the principle of the initiative guarantees the possibility for the employee to contribute to the company with creative ideas that generate value, innovation, engagement and employee motivation.
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Answer:
Professional Development
true or false , The tails of the t distribution contain less area
than the tails of the normal distribution.
Answers
False. The tails of the t distribution contain more area than the tails of the normal distribution. The t distribution has fatter tails, reflecting the greater probability of observing extreme values in comparison to the normal distribution.
The tails of a distribution refer to the extreme ends of the distribution, where the probabilities of observing values are relatively low. In the case of the t distribution, which is a probability distribution used in hypothesis testing and constructing confidence intervals for small sample sizes, the tails have more area compared to the tails of the standard normal distribution. The reason for this lies in the shape of the t distribution. The t distribution has thicker tails compared to the normal distribution, which means it assigns more probability to extreme values. This characteristic is due to the additional uncertainty introduced by estimating the population standard deviation from a small sample. In contrast, the normal distribution has relatively thinner tails, meaning it assigns less probability to extreme values compared to the t distribution. The tails of the normal distribution asymptotically approach zero, indicating that extreme values are highly unlikely.
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ralph sold a motel to steve by stating that he had paid $250,000 for it and that his net average annual profit from the business has been $40,000. in reality he paid $100,000 for the motel and has earned a net average annual profit of only $30,000. steve made no attempt to verify the statements until after the transaction was completed. in this case: a. ralph has committed fraudulent misrepresentation and the contract is voidable at steve's option. b. steve is bound by the contract, because he failed to verify the statements which were made to him. c. the contract is not voidable, but steve may sue for damages. d. the contract is automatically void.
Answers
The contract is voidable at Steve's option, meaning he can choose to either rescind the contract and receive a refund or affirm the contract and seek damages.
Ralph has committed fraudulent misrepresentation and the contract is voidable at Steve's option. Ralph made false statements about the purchase price and net annual profit of the motel, which induced Steve to enter into the contract. Steve relied on these false statements and did not verify them before completing the transaction. Ralph made false statements regarding the purchase price of the motel and the net average annual profit from the business. These false statements were material misrepresentations because they influenced Steve's decision to enter into the contract. Ralph intentionally provided incorrect information with the intention to deceive Steve.
Under these circumstances, Steve has the option to void the contract due to Ralph's fraudulent misrepresentation. Steve may choose to rescind the contract and seek remedies such as returning the motel and recovering any damages incurred as a result of the fraudulent statements.
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22.What is the main purpose of advertising? * A. to inform people about new products and services
B. to let people, know about a product’s benefits and where to buy it
C. to make money for the company
D. for tv time
Answers
The main purpose of advertising is option B, "to let people know about a product's benefits and where to buy it," best describes the main purpose of advertising.
What is the the main purpose of advertising?While advertising can contribute to making money for the company, generating sales and revenue is typically an indirect outcome of effectively informing and persuading consumers about the product or service being advertised.
The primary focus of advertising is to communicate with the target audience, create awareness, and influence consumer behavior. Making money for the company is a broader business objective that advertising supports, but it is not the sole purpose of advertising itself.
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When the terms of a sale are FOB destination, legal title to the goods passes to the buyer when the goods reach the buyer's place of business.TrueFalse
Answers
Answer:
True
Explanation:
FOB destination, or "free on board destination," is a term used in shipping to indicate that the seller is responsible for the cost and risk of goods until they reach the buyer's destination. The legal title of the goods passes to the buyer when the goods reach the buyer's place of business.
Although you have to get ready for a date, you are considering playing one more video game. You will choose to play the game if?
Answers
Although you have to get ready for a date, you are considering playing one more video game. You will choose to play one more game if your date says they will be a little late.
When meeting someone for a date, there are some things one needs to be sure of like always being on time, the personal gestures, volunteering to pay the bill if not then asking to split the bill in half. Being a good listener than a good talker and also being aware of your table etiquette, treating the waiter or waitress with respect, complementing your date.
All of these are the key factors that decide whether you are meeting with them again or not because it not the food that they are going to remember, it's your behavior that is going to move ahead.
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Describe factors that encourage conspicuous
consumption by the purchase of status sym-
bols.
Answers
Veblen's initial thesis said that better social standing and peer recognition were the two key factors influencing ostentatious consumption.
Conspicuous consumerism is the act of acquiring things or services specifically with the intention of flaunting one's affluence. When publicly exhibited products and services are too expensive for other people in a person's class, conspicuous spending is a way to demonstrate one's social position.
What is the conspicuous consumerism theory?
Conspicuous consumption is defined as. Displaying extravagant riches in order to improve one's standing and reputation in society is known as conspicuous spending.To Learn more about conspicuous consumption, click the links
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John bought his house for $185,000. He sold it 6 years later for $230,000. What was his ROI (return on investment)? -19.56%
24.32%
19.57%
-24.32%
Answers
John's Return on Investment (ROI) was B. 24.32%.
What is the return on investment?The Return on investment (ROI) is a financial ratio that measures the benefit or gain made by an investor.
The ROI is computed by determining the profit or return and using this as a numerator over the investment cost. It is then expressed as a percentage.
Data and Calculations:Investment cost = $185,000
Sales proceeds after 6 years = $230,000
Returns = $45,000 ($230,000 - $185,000)
Return on investment = 24.32% ($45,000/$185,000 x 100)
Thus, John's Return on Investment (ROI) was B. 24.32%.
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a musical instrument manufacturer is considered the best in the industry in terms of human resource management and its excellent supply chain that assures the company will deliver products on time. which macro strategy does this company demonstrate to achieve a sustainable competitive advantage?
Answers
Operational excellence is the plan for Niro music to gain a competitive advantage.
Early in the 1970s, Dr. Joseph M. Juran introduced the concept of operational excellence while educating Japanese industry leaders on how to improve quality. It was defined in the United States in the 1980s in reaction to "the crisis" experienced by large, established firms, whose market share was decreasing as a result of high-quality items imported from Japan.
An excellent workplace culture can be fostered using certain strategies and ideas that are part of the operational excellence style of thinking. Each employee must be able to recognise, provide for, and improve the flow of value to a client for there to be operational excellence.
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State any five occupation in public sector? Explain any one of them.
Answers
Explanation:
social worker
physiotherapist
welfare right officers
drug abuse worker
care worker
physiotherapist: It is a health related profession that deals with the treatment of the dysfunctional human organs through therapy. +2 level or certificate level in science with minimum 50% is required to do this particular job.
You purchase $300 worth of the same stock every quarter for one year at prices per share of $15, $12, $10, and $20, respectively. By using this dollar-cost averaging strategy, you paid less overall than the average share price of $14.25. What was the average cost per share that you paid?
please help
Answers
Answer:
$13.33
Explanation:
The average cost of purchase for each stock throughout the year will be $13.33 per share.
What is the average cost?Average cost refers to total cost incurred divided by the total quantity purchased for such product. Using the given information, the average cost per share can be calculated as,
Total Cost will be $1200, as $300 worth of shares were purchased in each quarter. And the total quantity accumulated throughout this period was 90 shares.
So, the average cost per share will be,
\(\rm Average\ Cost\ = \dfrac{Total\ Cost}{Total\ Quantity}\\\\\rm Average\ Cost\ = \dfrac{1200}{90\\}\\\rm Average\ Cost\ =\$13.33\)
Hence, the average cost per share will be $13.33 for shares purchased throughout the year.
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what systems discourage people from coming forward with entrepreneurial ideas?
Answers
There are several systems that discourage people from coming forward with entrepreneurial ideas. One such system is the lack of financial resources or access to funding.
Another discouraging factor is the fear of failure. Starting a new venture is risky and can be intimidating, especially if one has never done it before. Many individuals may be hesitant to take the plunge and pursue their entrepreneurial dreams due to the possibility of failure and the associated stigma.
In addition, there may be legal and regulatory hurdles that make it difficult for individuals to start their own businesses. Licensing requirements, zoning restrictions, and other regulations can create significant barriers to entry for aspiring entrepreneurs.
Finally, cultural norms and expectations can also discourage individuals from pursuing entrepreneurial ideas. For example, there may be societal pressure to follow traditional career paths or to prioritize stability and security over risk-taking and innovation.
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what is 4 1/2 + 5 1/2 ?
Answers
Answer:
10
Explanation:
Brainiest? Hope this helps
Vendors submit invoices prior to receiving purchase orders from companies.
True
False
Answers
Answer:
False
Explanation:
Only after the purchase was approved
stephanie has been driving for 4 years without any major auto accidents until today
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If the Retained Earnings balance at the end of year three is $1,000, what was the total amount of dividends paid over these three years
Answers
Based on these scenarios, the total amount of dividends paid over the three years could be between $4,000 and $14,000. The exact amount will depend on the actual net income for each year.
The Retained Earnings balance at the end of year three is $1,000. We need to find out the total amount of dividends paid over these three years. In order to find the total amount of dividends paid over these three years, we will use the formula: Dividends Paid = Net Income - Retained Earnings
Since Retained Earnings at the end of year three is $1,000, we know that this amount comes from net income minus dividends paid over the three years.
Therefore, Dividends Paid = Net Income - Retained Earnings= Net Income - $1,000
Since we do not have any information about net income, we cannot calculate the exact amount of dividends paid. However, we can provide a possible range of values for dividends paid based on different net income scenarios.
Let's assume that the net income over the three years was $5,000, $10,000, and $15,000 respectively.
Then, using the formula above, we get:
Dividends Paid = Net Income - $1,000= $5,000 - $1,000 = $4,000 (minimum possible dividends paid)= $10,000 - $1,000 = $9,000 (medium range of dividends paid)= $15,000 - $1,000 = $14,000 (maximum possible dividends paid)
Based on these assumptions, the total amount of dividends paid over the next three years might range between $4,000 and $14,000. The precise amount will be determined by the actual net income for each year.
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Can ah budget include donations to charities
Answers
Answer:
A common rule of thumb for budgeting for charitable donations uses the concept of the 50/30/20 split for your budget. The other portion is for your wants: About 30 percent of your budget goes into this category, which might include vacations, gifts, or date nights.
What does it mean return processing has been delayed beyond the normal timeframe?
Answers
If return processing has been delayed beyond the normal timeframe, it means that the processing of a returned item or product is taking longer than it typically would under normal circumstances.
The delay could be due to a variety of reasons, such as an unusually high volume of returns, staffing shortages or delays, or technical issues with processing systems.
In general, the normal timeframe for return processing depends on the policies of the retailer or business that the item was purchased from. This timeframe is typically outlined in the retailer's return policy, and can vary depending on factors such as the type of product being returned and the reason for the return.
If return processing is delayed beyond the normal timeframe, it may result in frustration and inconvenience for the customer who is waiting for a refund or replacement. In some cases, the delay may also be indicative of broader issues within the retailer's operations or supply chain, such as inventory management or quality control problems.
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Which nims management characteristic is necessary for achieving situational awareness?.
Answers
The NIMS Management Characteristic is facilitating information sharing is Integrated Communications.
What are the characteristics of NIMS?
All levels of government are governed under the National Incident Management System (NIMS). Common nomenclature, modular organization, management by objectives, and incident action planning are some of the key traits.
Interoperable communication methods and systems, which include voice and data linkages, are developed and put to use to facilitate integrated communications.
To sustain connectivity, establish situational awareness, and make information sharing easier, integrated communications are required.
As a result, integrated communications is the correct option.
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When can an importer request a penalty reinvestment agreement?
What are the requirements?
Answers
An importer can request a Penalty Reinvestment Agreement (PRA) when they have been found in violation of customs regulations.
The PRA is an agreement between the importer and the Customs and Border Protection (CBP) to pay a reduced penalty amount and invest in compliance activities in exchange for a waiver of some or all of the penalties.
A PRA can only be requested if the importer has no history of significant violations or penalties in the past three years. In addition, the violation must not be related to health, safety, or national security. In order to qualify for a PRA, the importer must agree to take specific actions to improve their compliance, such as implementing new internal controls, training employees, and conducting compliance audits.
The importer must also agree to pay the reduced penalty amount and complete the compliance activities within a specified time frame. If the importer fails to meet the requirements of the PRA, they will be required to pay the full penalty amount. The PRA is a beneficial option for importers who have made mistakes in their compliance but are committed to improving their practices and avoiding future violations.
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Which is an example of an accounting function for a business?
1.) Designing print advertisements
2.) Preparing a balance sheet
3.) Hiring employees
4.) Testing computer software
Answers
in lucy v. zehmer (1954) the virginia court held that mr. zehmer (offeror) had demonstrated a serious intent to be bound by the offer to sell ferguson farm to mr. lucy (offeree) for $50,000. which statement below reflects the court's legal reasoning?
Answers
The statement A and C reflects the court's legal reasoning. The correct answer option (D). A and C only.
What is Legal reasoning?It is a method that entails extrapolating specific instances of the relevant legislation from a small sample of cases to a larger group of situations. The historical, empirical, or a posteriori methods are other names for it.
You are required to apply legal concepts to the factual scenario in this section, which assesses your aptitude for the law. Through this portion, your legal knowledge, aptitude for research, and capacity for problem-solving are evaluated. Giving a cause for the judgement is the essence of legal reasoning. The term "issue" refers to a disagreement between the parties on a specific substantial fact that both parties to the suit or procedure were concerned about.
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The full question is,
In Lucy v. Zehmer (1954), the Virginia court held that Mr. Zehmer (Offeror) had demonstrated a serious intent to be bound by the offer to sell Ferguson Farm to Mr. Lucy (Offeree) for $50,000. Which statement(s) below reflect the court's legal reasoning?
A). The court determined that Mr. Zehmer was "high as a Georgia Pine' when he entered into the contract.
B). The court noted the following: a contract was under discussion between the parties and was re-written to include Mrs. Zehmer; it was then signed by all parties; and contained a provision for the examination of title; the instrument was complete, and that alcohol did not negate Mr. Zehmer's intent to be bound by the offer
C). The court determined the offer did not contain definite and certain terms and was not valid.
D). Choices A and C only.
Which of these describes information that can appear in a consumer’s credit report?
A. The name of a company that gave the consumer a car loan two years ago
B. The amount of money that the consumer loaned to a family member
C. The amount of money the consumer will need to borrow in the next five years
D. The name of a store where the consumer pays cash for all purchases
Answers
Answer:
A. The name of a company that gave the consumer a car loan two years ago
Explanation:
A credit report is the statement that contains the information related to your credit activity & the present credit situation like history of loan payment, the status of your credit accounts. This would help lenders to use these reports whether they will give you loan and if they are agree than what rate of interest they would offer you
So according to the given situation, the option A is correct
This positioning strategy highlights product use, as well as the exclusive services associated with that product, that competing products do not offer.
Answers
Application as competitive advantage positioning strategy highlights product use, as well as the exclusive services associated. By clearly articulating a brand's competitive advantage, positioning strategies aim to change consumer perception.
A computer corporation that concentrates on offering cutting edge technology at premium product prices before its competitors would provide an excellent example of a positioning strategy. An further illustration of positioning strategy would be a major chain store that prioritizes offering well-liked products to lots of customers at reasonable prices. Effective services positioning, in other words, makes sure that your marketing messages stand out, connect with your target audience, and inspire people to take action.
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Why are companies required to perform payroll withholding?
A. To make sure employees are being paid fairly
B. To make sure employees can pay their taxes
C. To help employees save for retirement
D. To help the company pay its share of taxes
Answers
Answer:
its B
Explanation:
TRUST
hey can y'all help me out some my birthday is April 7th and I get to oder things off Amazon and I'm a person who likes to do nails so do y'all know a case on Amazon where I can put all my nails stuff
Answers
Yes, there are many nail cases available on Amazon where you can store all your nail supplies like Frenessa Acrylic Nail Polish Organizer and Hiker Large Capacity Cosmetic Case.
What is amazon?Amazon is a multinational technology company based in Seattle, Washington, United States. It was founded in 1994 by Jeff Bezos as an online marketplace for books and later expanded to sell a wide variety of products, including electronics, clothing, toys, and household items.
Amazon is now one of the largest online retailers in the world, with operations in over 100 countries and an extensive network of warehouses, delivery centers, and data centers.
These are just a few options to consider, but there are many other nail cases available on Amazon to fit your specific needs and preferences.
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In which order should the components of a balance sheet be reported?
O A. liabilities, owner's equity, assets
B. assets, owner's equity, liabilities
C. owner's equity, liabilities, assets
D. assets, liabilities, owner's equity
Answers
Answer:
D. assets, liabilities, owner's equity
Explanation:
The balance sheet is prepared following the order of the accounting equation; assets are equal to liabilities plus equity. It means assets will come first, followed by liabilities. Owners' equity will be last.
Assets and liabilities are listed in the order of their liquidity. Current assets will be on top on the assets side, while current liabilities will top liabilities side.
Prompt What is an economy?
Answers
Answer:
An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated.
What is an example of a general safety hazard?
poorly maintained equipment
contaminated water
blizzard
employee retaliation
Answers
Answer:
poorly maintained equipment
Answer:
contaminated water
Explanation:
if the water doesnt get boiled it will make you sick, contaminated water can make you sick easily so its a safety hazard
can somebody plz help? ASAP
Answers
Answer:
More accessible goods
An increase in international trade
A rise in regional Jobs