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Question - Anna has negotiated to buy a new SUV for $39,400. She will need to borrow 90% of the purchase price, and she would also like to make equal monthly loan payments over a seven year period.
Required - Answer the following, including variables and calculations to show your work.
(a) If the cost of borrowing is 5.49% per annum, what would her monthly loan payment be?
(b) If the monthly payment is $475 per month, what is the interest rate on the loan above?
How much of the account verification costs will be assigned to the Northeast Office? (Round any intermediate calculations to the nearest cent)
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Two weeks later the partnership distributes $30,000 cash to Logan. How much, if any, gain or loss would Logan recognize
Locke recorded 50,000 hours of data analysis and 150,000 hours of data entry. What are the activity-based rates for each area of direct labor?
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