A car dealer carries out the following calculations.What is the annual percentage rate?   List price: $5,227.00 , Options: $1,625.00 , Destination charges: $200.00 , Subtotal : $7,052.00, Tax : $431.58 , Less trade-in: $2,932.00 , Amount to be financed: $4,691.03 , 10% interest for 48 months: $1,501.63 , Total: $6,192.66 , MONTHLY PAYMENT: $129.00

Q: A motor corporation sells cars for P dollars, 40% of which must be paid in cash. The unpaid balance…

A: Time value of money- It is based on the concept that money earned today is worth more than similar…

Q: If a company purchases merchandise on terms of 1.1/20, n/30, the cash discount available (assuming a…

A: Calculating Cost of credit Days when payment is normally due - Days to avail credit = 30-20=10 360…

Q: Your company has been offered credit terms on its purchases of 4/30, net 90 days. What will be the…

A: Trade credit is the arrangement by which the customer gets additional time to repay the dues and…

Q: On average, how much “free” trade credit does the firm receive during the year?

A: Free trade credit refers to the payment made by a firm within the discount period whereas when the…

Q: Percentages need to be entered in decimal format, for instance 3% would be entered as .03.)…

A: Calculation with proper explanation given in next sheet.

Q: Splish Company purchased a machine at a price of $95,600 by signing a note payable, which requires a…

A: Purchase price = $95,600 Future value = $139,968 Tine  = 4 years So, Future value = Purchase…

Q: An industrial firm can purchase a certain machine for $40.000. A down payment of S-1.000 is…

A: The calculation is: The formulae sheet is:

Q: For the car loan described, give the following information. A car dealer will sell you a used car…

A: Note: As per Bartleby guidelines,If a question with multiple sub-parts are posted,  first 3…

Q: favorable financ

A: A sale is an agreement between two parties related to the price, delivery of product or services…

Q: GFB Co. buys on terms of 2/15, net 30 days. It does not take discounts, and it typically pays 30…

A: Free Trade credit refers to a type of financing wherein the buyer gets a credit period of…

Q: Your company has been offered credit terms on its purchases of 4/30, net 90 days. What will be the…

A: The an agreement to purchase products and/or services on credit rather than making immediate cash or…

Q: A car dealer carries out the following calculations. What is the annual percentage rate?   Lis…

A: As per the given information: Amount to be financed - $4,691.03 Interest rate - 10% Months of…

Q: Gerardo Norega bought a dinette set for $900, which he paid in 12 monthly payments of $81.90. (a)…

A: Formula used:

Q: A car dealer advertises the sale of a car model for a cash price of P280,000.00. If purchased on…

A: Present value of an annuity: It is the value of all future payments at the present date at some…

Q: Calculate the annualized discount rate and annualized investment rate on the purchase of 91- day…

A: Given: Face value =$3000Purchase price =$2900

Q: A car dealer carries out the following calculations. What is the annual percentage rate? List price…

A: Comment-  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: If a company purchases merchandise on terms of 2.7/10, n/30, the cash discount available (assuming a…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: A car dealer carries out the following calculations. What is the annual percentage rate? List price…

A: Solution:- Given, Interest (r) = 5% Months (N) = 36

Q: The cash price of a machine tool is $12,500. The dealer is willing to accept a $3500 down payment…

A: The real interest that an investor earns on the investment and a borrower pays on loan after…

Q: Haumea has been offered credit terms of discount of four percent if paid within thirty days, if not…

A: When goods are sold on credit, the seller extends short term finance to the buyer to make the…

Q: A washer-dryer combination can be purchased from a department store by making monthly credit card…

A: Given: Particulars Amount Monthly payment $46.34 Years 3.5 Interest rate 21% Additional…

Q: tore offers its salespeople a table with coefficients to be applied to the cash sale value of its…

A: Coefficients are very important in calculating the monthly payments and value of these depends on…

Q: Haumea has been offered credit terms of discount of four percent if paid within thirty days, if not…

A: Workings: Nominal annual percentage cost of its non-free trade credit=Discount rate100-Discount…

Q: A print shop borrows $2900 from a credit union for 231 days. The credit union charges simple…

A: Borrowed amount = $2,900 Time Period = 231 Days Interest Rate = 8.25%

Q: A car dealer advertises the sale of a car model for a cash price of P 280,000. If  purchased on…

A: Formula to Calculate Monthly Payments Monthly Payments = (P X R/12) X [(1 +R/12)^N)/ [(1+R/12)^N -1]…

Q: Mavericks Cosmetics buys $4,691,301 of product (net of discounts) on terms of 7/10, net 60, and it…

A: To expand the business or operations, firms required funds which can be raised through issuing…

Q: A company sells each waterbottle for $ 10, the company tax rate is 25%. In order to increasing the…

A: This question is related to the finance in which company wants to increase their profit by providing…

Q: The company sells products to a customer for $70,000 and will receive $10,000 at the end of each of…

A: Present value means value of cash flow that arise in future , by applying specific discounting…

Q: Percentages need to be entered in decimal format, for instance 3% would be entered as .03. Cooley…

A: Factoring of  accounts receivable: In general business, accounts receivable are sold out to another…

Q: A car dealer carries out the following calculations. What is the annual percentage rate? List price…

A: Solution:- Given Values, Interest (r)= 7%  Months (N) = 48

Q: Postal Express is considering the purchase of a new sorting machine. The sales quote consists of…

A: We can do this calculation in excel using 'PV' function. Since postal express is making quarterly…

Q: Aragon credit Union offers to lend Cassidy $35,000 to buy a car; the loan calls for payments of…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: A $100,000 168-day T-bill is purchased for $99,004 on its issue date. What simple ate of interest…

A: Given: Face value =$100000Purchase value =$99004Days to maturity =168

Q: For the car loan described, give the following information. A car dealer will sell you a used car…

A: The annual interest rate that is charged by the lenders or at which the investors earn additional…

Q: A store will give you a 1.75% discount on the cost of your purchase if you pay cash today.…

A: The concept of the time value of money states that the same amount of money is worth more today than…

Q: Assume that a one-year CD purchased for $1000 pays an APR of 6% that is compounded semi-annually.…

A: Here, Value of CD is $1,000 Time Duration is one year Interest Rate is 6% Compounding period is…

Q: A car dealer carries out the following calculations. List price $ 5,368.00 Options $ 1,625.00…

A: The rate of interest given for a year is known as the annual percentage rate. The formula to…

Q: Fil Development buys on terms of 2/15, net 60 days. It does not take discounts, and it typically…

A: Accounts payable: Accounts payable are the liabilities which arises due to credit purchases from the…

Q: At auction, 2-month T-bills were sold at a discount of 6.530%. What was the simple annual yield r?

A: Given,  time t = 2 months i.e. 2/12 = 1/6 Discount = 6.53% Let the face value be $100 Discount =…

Q: A back-pay certificate is offered for sale on which the yearly payments are PHP 996.00, partly…

A: Given, The yearly payments are Php 996 Number of payments due is 8 Rate of interest is 5%

Q: Black Panther Inc. buys on terms of 2/15, net 60 days. It does not take discounts, and it typically…

A: Credit terms indicate the percentage discount a firm can take off the invoice amount if payments…

Q: A​ washer-dryer combination can be purchased from a department store by making monthly credit card…

A: For calculation of purchase price we need to use the following formula of annuity due PV of annuity…

Q: A car dealer will sell you a used car for $6,998 with $798 down and payments of $164.51 per month…

A: Using the rate function in excel

Q: Company X sells on a 2/15, net 90, basis. Company Y buys goods with an invoice of $1,000.   a. How…

A: Credit sale term =2/15, net 90 Company Y buys goods of =$1000 Meaning of 2/15, net 90: It means if…

Q: A sala set is offered for sale for a P50,000 down payment and P1,500 every 3 months for the balance…

A: Down payment (DP) = P 50,000 Quarterly payment (P) = P 1500 Number of monthly payments (n) = 24/3 =…

Q: A home video entertainment set is offered for sale for 20124 down payment and P9475 every three…

A: Given, Down payment P20124 Quarterly payment P9475 Rate 5%