Reference no: EM1355716
1)Nick has a revolving department store credit card account with an annual percentage rate of 15%. Last month's balance on the account was 423.78. During the current month, he made purchases totaling 123.42 and made a payment of 100. The store uses the unpaid balance method. According to this information, what must be the amount of the finance charge? Round your answer to the nearest cent.
2) What is the future value of an ordinary annuity of 12,000 per year, for three years at 9% interest compounded annually
3) Using the information provided in Question 2 what is nick's current account balance?
4) A company purchased an air conditioning system for 10,200. The shipping charges on the system were 875, and the setup costs were 1,250. The system is expected to last for 5 years and has a residual value of 2,000. If you use the straight-line method to calculate the depreciation for this air conditioning system, what would be the annual depreciation
5) Wallace and sarah have decided to purchase furniture for their new home. They have 2 payment options. The first option is to pay a cash payment of 4,200. The second option is to finance the furniture with a two-year installment loan. The loan requires at 12% down payment and 24 equal monthly payments of 195. According to this information what would be the finance charge on the loan
6) The patel family recently purchased a home, taking out a mortgage of 235,000 at 8 3/4% for 25 years. The annual property taxes on the home are 6,345, and the annual hazard insurance premium is 1,479. What is the monthly PITI payment of their loan
7) How much money must be deposited now, at 6% interest compounded semiannually, to yield an annuity payment of 4,000 at the beginning of each six-month period, for a total of five years? Round your answer to the nearest cent
8) What sinking fund payment would be required at the end of each three-month period at 8% interest compounded quarterly, in order to amount to 20,000 within five years
9) Brenda bought a swimming pool by obtaining an 8% add-on interest installment loan from the bank. The pool cost 2,400, and the bank required a 15% down payment and equal monthly payments for two years. How much is brendas monthly payments
10) Shawn bought a home with an adjustable rate mortgage. The margin on the loan is 2.7% and the rate cap is 7.2% over the life of the loan. If the current index rate is 4.3% what is the initial interest rate of the ARM.
|
Client unique challenges and lifestyles
: Is there a danger in assuming that one will always able to understand a client's unique challenges and lifestyles enough to "walk in the clients' shoes"?
|
|
Do you think company should enter the market
: Assume the average whole price of a wireless phone is curently $50. Do you think this company should enter the market.
|
|
Explain how deontology ethical frameworks deals
: Explain how each of three ethical frameworks (deontology, utilitarianism, virtue ethics) would deal with utilizing company resources for personal use
|
|
Issue -internet changed political interactions globally
: Write a 500 word essay based on the issue of ways in which the internet has changed political interactions globally. These might involve political activity in several specific countries,
|
|
Find the future value of an ordinary annuity
: Nick has a revolving section store credit card account with an yearly percentage rate of 15%. Last month's balance on the account was 423.78.
|
|
Stanford prison experiment
: Describe each ethical issue, problem, or flaw you found in the Stanford Prison Experiment.
|
|
Gaap-acconting equation
: The framework used to record and summarize the economic activities of a business enterprise is referred to as the accounting equation. State the basic accounting equation and define each of its major components. How are business transactions and f..
|
|
Case study of ethics violation by researcher
: Without consulting with her IRB, the psychologist told the school superintendent that the research was exempt from IRB review and that parental permission would not be required for this type of research.
|
|
Deviation from gaap
: Is it possible to deviate from Generally Accepted Accounting Principles (GAAP) and the accounting cycle and still prepare financial statements? What are some possible consequences of this course of action?
|