If Stuart buys a $20,000 car with a down payment of $2,000 and is given a 3-year loan with an APR of 10.4 percent and
monthly payments of $584.20, what is the dollar amount of the finance charge on this loan?
A. $18,000.00
B. $3,031.20
C. $2,048.72
D. $21,031.20

Answers

Answer 1
. I think this is B

NOT SURE!

Try and tell me
Answer 2

If Stuart buys a $20,000 car with a down payment of $2,000 and is given a 3-year loan with an APR of 10.4 percent and monthly payments of $584.20, $18,000.00, is the dollar amount of the finance charge on this loan. Thus, option (a) is correct.

What is loan?

A loan is any sum of money, a piece of property, or other tangible item that is given to another party with the understanding that it will be paid back, plus interest, at a later date. The loan was the provided of the financial institution on the low interest rate.

The value of the car = $ 20,000,

The amount of down payment = $ 2,000,

If he takes a loan for paying the remaining amount of the car,

Then, the amount financed on this loan = The value of the car - down payment

= $20,000 = $2,000

= $ 18,000

As a result, the $18,000.00, is the dollar amount of the finance charge on this loan. Therefore, option (a) is correct.

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Related Questions

100 POINTS HELP A business implements cost-cutting initiatives, but they are not yet complete. What should an accountant do?
A. Report them now
C. Ignore them
B. Estimate their value
D. Report them when complete

Answers

Answer:

is it too late

All are true about a savings account, except: *
O They earn interest
O They usually are tied to your overdraft protection
O People use them for larger expenses
O They are your day-to-day primary account

Answers

The answer is the last one, They are your day-to-day primary account

The Thakor Corp.’s purchases from suppliers in a quarter are equal to 60 percent of the next
quarter’s forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 25
percent of sales, and interest and dividends are $85 per quarter. No capital expenditures are
planned.
Here are the projected quarterly sales:
Q1 Q2 Q3 Q4
Sales $2,190 $2,490 $2,190 $1,890
Sales for the first quarter of the following year are projected at $2,520. Calculate the company's
cash outlays by completing the following: (Do not round intermediate calculations. Round
the answers to 2 decimal places. Omit $ sign in your response.)
Q1 Q2 Q3 Q4
Payment of accounts
Wages, taxes, and other
expenses
Long-term financing
expenses
Total

Answers

Answer:

Q1: $738.00, Q2: $862.00, Q3: $646.00, Q4: $546.00, Total: $2,792.00

Explanation:

Operational gearing refers to

Answers

Operational gearing (also known as operating leverage) describes the relationship between a company's fixed costs (costs that it has to pay, regardless of how many sales it makes) and variable costs (those that rise and fall along with the level of turnover). The higher a firm's fixed costs are as a proportion of total costs, the higher its operational gearing.

Airlines and hotels have high operational gearing, for example, because of their high fixed costs (mainly property and staff) an aeroplane still requires a full complementof staff to get from A to B, regardless of how many seats are filled.

Operational gearing refers to the use of leverage to increase the financial risk taken on by a company or individual.

Operational gearing is achieved by using a combination of debt and equity to finance an operation, such as a business venture or investment. Leverage can be an effective tool for increasing returns, but it also carries with it a greater risk of financial loss.

Operational gearing is often used to fund a business venture or investment in order to increase the potential return on investment. By leveraging debt and equity, an investor can increase their potential return without having to commit additional capital or resources.

The primary advantage of operational gearing is the ability to increase potential returns without having to commit additional capital. This can be especially beneficial for businesses with limited capital, as they can leverage the funds they already have to grow the business. Additionally, operational gearing can be used to hedge against risk and reduce overall volatility.

The primary disadvantage of operational gearing is the increased risk associated with it. Leverage can magnify both potential gains and losses, meaning that an investor can potentially experience greater losses than they would without the use of leverage.

Additionally, operational gearing requires the investor to be able to service the additional debt, which can be difficult if the venture or investment does not generate sufficient cash flow. Operational gearing can also lead to higher taxes for the investor, as interest payments on debt are tax deductible.

Overall, operational gearing is a powerful tool that can be used to increase potential returns on investments. However, it also carries a greater risk of financial loss, so it is important to understand the potential implications before leveraging debt or equity to finance an operation.

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100 POINTS NEED HELP Which accounting system (or systems) allows for the FIFO method of inventory valuation?
A. IFRS only
C. Neither IFRS nor GAAP
B. GAAP only
D. Both IFRS and GAAP

Answers

Answer:

Both IFRS and GAAP

Explanation:

Both GAAP and IFRS allow First In, First Out (FIFO), weighted-average cost, and specific identification methods for valuing inventories.

However, GAAP also allows the Last In, First Out (LIFO) method, which is not allowed under IFRS (extra info)

Please like

Answer:

D

Explanation:

please help me i really need help

Answers

Answer:

$6,000

Explanation:

What is one reason a business may not begin their financial year on January 1?
A. cold weather
C. tradition
B. GAAP
D. holiday shopping

Answers

Answer:

Holiday Shopping

Explanation:

Many companies use different fiscal years than the traditional calendar year because it allows them to better represent their revenue and expenses.

Examples are retail stores because of the spike of Christmas shopping.

1. Aflac Duck
O Trademark
O Patent
O Copyright

Answers

patent is the answer

Debts that are owed to others are called Liabilities.
a. True
b. False

Answers

The answer would be true.
Liabilities reflect all the money your practice owes to others. This includes amounts owed on loans, accounts payable, wages, taxes and other debts. Similar to assets, liabilities are categorized based on their due date, or the timeframe within which you expect to pay them.


So that is true

-hope this helps

Which taxpayer is most likely to benefit by itemizing deductions on their 2021 return? None of these individuals are blind. Colin (32). He has no dependents and will use the single filing status. His allowable itemized deductions are $13,650. Donald (69). He has no dependents and will use the single filing status. His allowable itemized deductions are $13,800. Janelle (65). She is unmarried and will use the head of household filing status. She has one dependent. Her allowable itemized deductions are $19,500. Trevon (28). He is married and filing a joint return with his wife, Courtney (27). They have no dependents, and their allowable itemized deductions are $24,600.

Answers

a) Age of Garcia:68 years old She is single and can claim a standard deduction of 12400 dollars. In this particular instance, Garcia is over 65 years old, so the $1650 increase in the standard deduction is applicable.

Gracia will benefit from the standard deduction because it is greater than the itemized deduction, which is equal to 12400 times 1300, or 14050 dollars.

b) Age of Connor:31 Because he is single, he can claim a standard deduction of $12,400.

Because the itemized deduction is $13585, claiming it is advantageous for Connor because it is greater than the standard deduction.

c) Marietta, 35 years old, is unmarried and the head of the household. As a result, she is eligible for the standard deduction, which is 1865 dollars. The standard deduction for a dependent is 4300 dollars; the itemized deduction is 19300 dollars. As a result, Marietta is better off claiming the standard deduction than the itemized deduction. d) Tyrone, 35 years old28 years of age, married: married Filing jointly with spouse The standard deduction for married filers is $24880, while the itemized deduction is $23980. As a result, claiming the standard deduction is advantageous for Tyrone because it is greater than the itemized deduction.

The answer is:In the 2020 return, only Connor will benefit from itemizing deductions.

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Calculate interest rate when present value is $460, future value is $968 and years are 11

Answers

Answer: i=6.70% rounded up from 6.99767%

Explanation:

Given PV=460, FV=968, n=11,

Find i=?

PV=FV(1+i)^-n

460=968(1+i)^-11

460/968=(1+i)^-1/11

(460/968)^-1/11= 1+i

1.0699767=1+i

1.0699767-1=i

i=0.699767

i=6.70%

Cornell Enterprises is considering a project that has the following cash flow and WACC data. What is the project's NPV? Note that a project's projected NPV can be negative, in which case it will be rejected.

WACC: 10.00%
Year 0 1 2 3
Cash flows -$1,475 $470 $480 $490

Answers

Cornell Enterprises is considering a project that has the following cash flow and WACC data. The answer should be -132.63NPV (10%, 450,460,470)+(1275).

What are Enterprises?

A for-profit firm or company is referred to as a "enterprise" in various contexts, although this usage most frequently refers to entrepreneurial endeavors. Successful entrepreneurs are frequently referred to as "enterprising."

There are various types of legal businesses, but the following are the most prevalent in the United States:

A sole proprietorship is a business that is controlled by a single person, usually for that person's profit. This type of business has limitless liability for any damages that come from the activities of the business.

Partnership:  A company controlled by two or more people or entities that share ownership, albeit not necessarily on an equal basis.

Corporation:  A for-profit organization established to protect the owner(s) from responsibility in the event that the business is sued. Depending on the number of owners, companies can take on many forms.

Limited Liability Company (LLC) -  An LLC gives both the tax benefits of a partnership and the legal protection of a corporation.

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In most situations, a small business should keep their business tax records for a minimum of how long

Answers

In most situations, a small business should keep their business tax records for a minimum for 3 years. If you don't submit a return, keep records for as long as necessary.

What do you mean by the business tax records?

If you file a claim for credit or refund after filing your return, keep records for 3 years from the date of your initial return's filing or 2 years from the day you paid the tax, whichever comes first.

If you submit a claim for a deduction for bad debts or a loss from worthless securities, keep records for seven years.

If you fail to submit income that you should have reported and it represents more than 25% of the gross income listed on your return, keep records for six years.

Therefore, in most situations, a small business should keep their business tax records for a minimum for 3 years. If you don't submit a return, keep records for as long as necessary.

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What are the three standard forms of equation of a straight line.

Answers

point-slope form, standard form & slope-intercept form!!! hope this helps

Answer:

There are three major forms of linear equations: point-slope form, standard form, and slope-intercept form.

Explanation:

Point-slope : is the general form y-y₁=m(x-x₁) for linear equations. It emphasizes the slope of the line and a point on the line (that is not the y-intercept).

what is disadvantage and advantage of file link system in traditional at one University?​

Answers

Compared to electronic filing, traditional file organization is more secure, but it still has drawbacks. Typically, electronic files may be accessed across a network, therefore it is feasible for an unauthorized individual to access electronic data via the Internet by employing hacking techniques. Computer viruses and other software security issues can also harm electronic data. On the other hand, electronic data is simple to backup in various locations, minimizing the chance of permanent data loss. Paper files, on the other hand, can be destroyed in fires and floods.

Electronic systems are more sophisticated than traditional file methods, which might make it harder for inexperienced employees to access and change data. To find a file, anyone can search alphabetized filing cabinets. Technical training may be necessary to locate and manipulate information in an electronic database, and user mistakes can lead to unintentional changes or data loss.

Sunland company is considering buying a machine for $420000

Answers

If Sunland Company is considering buying a machine for $240,000 with an estimated life of ten years and no salvage value. The cash payback period on this investment is: c. 8 years.

How to find the Cash payback period

First step is to calculate the depreciation using this formula

Depreciation = Cost of assets - Salvage value / Useful life of assets

Depreciation = $240,000 - $0/10

Depreciation = $240,000/10

Depreciation =$24000

Second is to find the cash flow

Cash flow = Net income +Depreciation

Cash flow =$6000+ $24,000

Cash flow = $30,000

Third step is to find the  cash payback period on this investment

Cash payback period = Cost of assets / Cash flow

Cash payback period =$240,000/$30,000

Cash payback period =8 years

Therefore the correct option is C.

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The complete question is:

Sunland Company is considering buying a machine for $240,000 with an estimated life of ten years and no salvage value. The straight-line method of depreciation will be used. The machine is expected to generate net income of $6,000 each year. The cash payback period on this investment is

a. 20 years

b. 10 years

c. 8 years

d. 4 years

James often feels underappreciated at work and feels as though his quality of
work on projects is unrecognized.

HOW CAN THIS PROBLEM BE SOLVED ?

Answers

James should solicit feedback, Inform your management, Be accountable for your contributions, and Let them know how much you appreciate them.

What does your job best for recognizing and appreciating you?

They will feel most valued when you provide your staff members with a sense of purpose, success, and community.

Tell them exactly how they contribute and how they fit into the bigger picture of your firm, in addition to how they interact with their teams and the more significant business.

Verify your own worth, Exercise before work, change your attitude, and concentrate on minor victories.

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What reasons might an 18-year-old have for his/her thin file?

Answers

They might have at least one case of them probably shop lifting or a speeding ticket

Journal entries of cash paid to suman Rs 16800 and discount allowed by him Rs200??

Answers

Answer: 16600

Explanation:

Discount is nothing but an Expense.

According to golden rule,Debit all Expenses and Credit all incomes.

The journal entry is a follow:

Suman A/c dr. 16800

Discount A/c dr. 200

To Cash A/c. 16600

What's a major benefit to a buyer if she signs a buyer representation agreement?

Answers

Answer: A Buyer's Representation Agreement clarifies expectations, helping you understand what you should and shouldn't expect from your buyer's rep, and what they will expect from you, which usually centers on loyalty.

Explanation:

A major benefit to a buyer if she signs a buyer representation agreement is that a professional will be representing her preferences and she will receive a personal expert who is aware of her needs.

Professionals Are Representing Your Preferences

Using just a qualified buyer's agent is comparable to using an expert to assist with finances, a surgeon to assist with health care, or a mechanic to assist with your vehicle. You could perform these tasks oneself assuming that you had the spare time to dedicate to studying everything there is to know about accounting, medicine, and automobile repair. who has the time, though? This is why you let other experts assist you in their particular areas of specialization.

You Receive A Personal Expert Who Is Aware Of Your Needs

Your Buying agent is acquainted with your real estate wants and worries, just like your accountant, doctor, and mechanically do. Accessible communication is the cornerstone of this kind of partnership

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100 POINTS DESPERATE FOR HELP A company uses the same procedures in order to track growth from year to year. What principle does this illustrate?
A. None of the above.
B. Consistency.
C. Relevancy.
D. Reliability

Answers

Answer:

D. Reliability

Explanation:

D. Reliability

D

your welcome! hope this helps

Ivan is upset because he feels that Yvette never listens to his ideas in meetings. In their last meeting he offered a suggestion, and Yvette responded by rolling her eyes and ignoring his comment. How should Ivan BEST approach Yvette and communicate with her to try to resolve this conflict?

Answers

A personal dialogue with Yvette asking why she never listens is the best first step to take. When the "why" is established, then using empathy and listening skills, Ivan can attempt to put himself in Yvette's shoes to hear the things he says from her perspective.

This will create understanding and help Ivan to be able to speak in the language that Yvette can understand, thus, resolving the conflict.

What is conflict?

Conflict is defined as a fight and a collision of interests, opinions, or even values. A dispute will always exist in society, regardless of whether the source of the conflict is personal, racial, class, caste, political, or international.

Well-managed conflict results in improved engagement and creativity, whereas badly managed conflict results in increased stress and worry. Jobs that deal with people are more likely to cause conflict.

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I NEED HELPPPP CANT FAIL PLS The time period assumption is a part of what set of principles?
A. AARP
B. NAFTA
C. NEC
D. GAAP

Answers

Answer:

D. GAAP

Explanation:

What is one thing college students must do to continue to receive federal
student aid while attending college?
A. Register with Selective Service
B. Select an academic major in their first semester
C. Maintain satisfactory academic progress
D. Commit to community service after college

Answers

Answer:

C. Maintain satisfactory academic progress

Explanation:

Federal student aid is performance based (usually with a GPA range in place), so maintaining such is what keeps students on track to continue receiving it.

The least expensive type of marketing research method is a(n)

Answers

The answer to your question is Secondary Research

Brenda saves $650 per month.
Her goal is to save $10,000 for a down payment on a car.
After how many months will Brenda have met her goal?
Round to the nearest month.

Answers

Answer:

16 months

Explanation:

on the 16th month she will have 10400

What is the probability of receiving at least three e-mails during an hour (to 4 decimals)? For this question, if calculating the probability manually make sure to carry at least 4 decimal digits in your calculations. c. What is the expected number of e-mails received during minutes (to 2 decimals)? d. What is the probability that no e-mails are received during minutes (to 4 decimals)?

Answers

b) The probability of receiving at least three e-mails during an hour is of: 0.8754 = 87.54%.

c) The expected number of e-mails received during 15 minutes is of: 1.25 e-mails.

d) The probability that no e-mails are received during 15 minutes is of: 0.2865 = 28.65%.

What is the Poisson distribution?

In a Poisson distribution, the probability that X represents the number of successes of a random variable is given by the following mass probability function defines as follows:

[tex]P(X = x) = \frac{e^{-\mu}\mu^{x}}{(x)!}[/tex]

The parameters are:

x is the number of successes that we want to find the probability of.e = 2.71828 is the Euler number.[tex]\mu[/tex] is the mean in the given interval or range of values of the input parameter.

The daily mean is of 121 e-mails, hence the hourly mean is of:

[tex]\mu = \frac{121}{24} = 5[/tex]

Then the probability of at least three e-mails during the hour is of:

P(X ≥ 3) = 1 - P(X < 3)

In which:

P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2)

Hence:

[tex]P(X = x) = \frac{e^{-\mu}\mu^{x}}{(x)!}[/tex]

[tex]P(X = 0) = \frac{e^{-5}(5)^{0}}{(0)!} = 0.0067[/tex]

[tex]P(X = 1) = \frac{e^{-5}(5)^{1}}{(1)!} = 0.0337[/tex]

[tex]P(X = 2) = \frac{e^{-5}(5)^{2}}{(2)!} = 0.0842[/tex]

Then:

P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2) = 0.0067 + 0.0337 + 0.0842 = 0.1246

Hence:

P(X ≥ 3) = 1 - P(X < 3) = 1 - 0.1246 = 0.8754 = 87.54%.

The mean during 15 minutes is one-fourth of the hourly mean, hence:

5.04/4 = 1.25 e-mails.

The probability of no-emails during the 15 minutes is of:

P(X = 0) = e^(-1.25) = 0.2865 = 28.65%.

Missing Information

In items c and d, the measure is of 15 minutes, and the description of the problem is given by the image shown at the end of the answer.

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Which three statements help define a Market/Fit Hypothesis? (Choose three)

Answers

There are the three statements was the based on the defines a market/fit hypothesis are:

Who is the target audience?

Products are the fit to the market.

Product is the satisfy the needs and the wants.

What is Hypothesis?

A hypothesis is the investigation of two independent variables. Furthermore, it is evaluated and tested in an analytical phenomenon. A research hypothesis is a proclamation of expectation or prediction that will be tested through research.

According to the hypothesis, there are the three statement was the based on the market/fit. The product and solution fit to the market problems. Product are the fit to the target audience. Product is the satisfy the needs and the wants.

As a result, the three statements was the based on the defines a market/fit hypothesis.

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Which acronym represents the set of accounting
principles that include the full disclosure
principle?
A. AARP
C. GAAP
B. NAFTA
D. NEC

Answers

Answer:

C. GAAP

Explanation:

The fixed costs for Teddy bikes are $ 1000, the variable costs are $855, and the firm's revenues are $950.What should the firm do?

Answers

If the variable costs are $855, and the firm's revenues are $950, then the firm should cut down the variable cost in order to increase the profit or revenue as the fixed cost cannot be changed in short run.

What is fixed cost?

A fixed cost is a cost that does not fluctuate with the production or sale of more or fewer goods or services.

Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs. There are some taxes that are fixed costs as well, such as company licenses.

Fixed costs are expenses that remain constant regardless of whether sales or production volumes rise or fall. This is so because they are not involved in the actual process of producing a good or providing a service. Fixed costs are therefore regarded as indirect costs.

The term "variable cost" refers to a sort of cost that will fluctuate in response to changes in production levels.

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