Question
In: Accounting
i need someone to find the answer for this question A MasterCard statement shows a balance...
i need someone to find the answer for this question
A MasterCard statement shows a balance of $510 at 13.5% compounded monthly. What monthly payment will pay off this debt in 1 year 10 months? (Round your answer to the nearest cent.)
Solutions
Expert Solution
| Total No of Months (12+10)=22 Months | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Given Compounding Monthly,So Convert Yearly Rate to Monthly (13.5/12)=1.125% Monthly | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consider Each Month as one period,therefore total periods 22 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Annuity Factor for 1.125% for 22 Periods is 19.3929 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Outstanding Loan Amout / Annuity Factor | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equated Monthly payment = | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ($510/19.3929) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
$26.30Cents |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ekkarill92 answered 2 years agoRelated Solutions
A MasterCard statement shows a balance of $510 at 13.2% compounded monthly. What monthly payment will...
A MasterCard statement shows a balance of $510 at 13.2%
compounded monthly. What monthly payment will pay off this debt in
1 year 7 months? (Round your answer to the nearest cent.)
I have this question in my nursing class I just need someone to answer it for...
I have this question in my nursing class I just need someone to
answer it for me
Reflect on an occasion where you experienced ineffective
leadership (doesn't have to be in the hospital/healthcare). What
behaviors did they display? What factors may have influenced their
leadership style?
Could someone please answer this question? I need it to be solved in 3 hours. Thank...
Could someone please answer this question? I need it to be
solved in 3 hours. Thank you so much for your help! I am really
grateful!
FUN Corp. is planning to add a new doll “Lisa” to their
production line. Instead of purchasing a third-party research
report, the marketing department of FUN Corp. conducted their own
analysis which saved at least $20,000 for the firm. The assumptions
about the expected revenues, expenses and capital investments are
presented as the followings....
(i just need an answer for question 4) (i just need an answer for just question...
(i just need an answer for question 4)
(i just need an answer for just question 4)
you have two facilities, one in Malaysia and one in
Indonesia.
The variable cost curve in the Malaysian plant is described as
follows:
VCM = q + .0005*q2 , where q
is quantity produced in that plant per month.
The variable cost curve in the Indonesian plant is described
by
VCI = .5q + .00075q2, where q is the
quantity produced in that...
I need step by step instructions on where to find the information to answer this question:...
I need step by step instructions on where to find the
information to answer this question:
Your task involves an analysis of general economic conditions or
systematic risk, i.e., the risk that affects all industries and
companies, in the U.S. macroeconomy. Your goal is to determine in
percentage terms an optimal allocation of $1,000,000 among the
following three asset classes: U.S. equities, U.S. Treasury bonds,
and cash.
The goal is to maximize your expected return over the next 12
months....
I need answer of Question 6? Below is the unadjusted trial balance for Walton Anvils as...
I need answer of Question 6?
Below is the
unadjusted trial balance for Walton Anvils as of December 31, 2016,
and the data for the adjustments.
Walton Anvils
Unadjusted Trial Balance
December 31, 2016
Balance
Account Title
Debt
Credit
Cash
$ 16,900.00
Accounts Receivable
17,500
Prepaid Rent
2,500
Office Supplies
1,900
Equipment
23,000
Accumulated Depreciation -
Equipment
$ 7,000.00
Accounts Payable
6,200.00
Salaries Payable
Unearned Revenue
5,600.00
Common Stock
28,000.00
Retained Earnings
...
Please I need today answer for This question and it is very important and I need...
Please I need today answer for This question and it is very
important and I need solution for this issue with all the details ,
and help me with all the details.Please write your answer to me by
typing, not by handwriting, so that I can read and understand your
answer clearly.BR/Hassan
Question : Unemployment and economic policy . Please be brief
and to the point. .
Your task is to explain how employment and/or unemployment is
determined according to...
Please I need today answer for This question and it is very important and I need...
Please I need today answer for This question and it is very
important and I need solution for this issue with all the details ,
and help me with all the details.Please write your answer to me by
typing, not by handwriting, so that I can read and understand your
answer clearly.BR/Hassan
Externalities :
a) Define a negative production externality.
b) Why do markets not always manage to solve the problem of
externalities on their own?
c) Under which conditions...
Please I need today answer for This question and it is very important and I need...
Please I need today answer for This question and it is very
important and I need solution for this issue with all the details ,
and help me with all the details.Please write your answer to me by
typing, not by handwriting, so that I can read and understand your
answer clearly.BR/Hassan
Q) Two firms produce a good which leads to pollution :
Assume that the marginal cost for cleaning up in one firm is
given by ??1 = 40...
Please I need today answer for This question and it is very important and I need...
Please I need today answer for This question and it is very
important and I need solution for this issue with all the details ,
and help me with all the details.Please write your answer to me by
typning not by hand writing, so that I can read and
understand your answer clearly.thanks in advance/Ha
Question
This question will ask you to use the Heckscher-Ohlin model to
analyze the effect of trade
liberalization between two countries. Assume that there are two...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- What is the potential of a cell made up of Zn|Zn2+ and Cu|Cu2+ half-cells at 25o...
- Write a Java Program using the following instruction: Create the following 3 methods that calculate and...
- How would the S/D curves shift if a $3 tax was imposed on suppliers for each...
- Why should a time-based authentication system invalidate the current password on a successful authentication?
- Explain the difference between a market penetration strategy and a market development strategy.
- QUESTION 4 Discuss the sanctity of life versus the quality of life debate as presented by...
- 0.560 g He, 20.482 g F2, and 13.960 g Ar are placed in a 18.4-L container...
ADVERTISEMENT