Sunset Photography requires a 40% deposit on all bookings. In March, they received deposits for weddings totaling $24,000. What is the total contract value of these bookings?
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- A finance company paid a merchant $3,975 for a conditional sale contract after discounting it to yield 18% compounded monthly. If the contract is for 20 monthly payments of $256.96 following a payment-free period, what is the time interval between the date of sale and the first payment? (Round your answer to the nearest month.) _____ monthsGear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?A Hepplewhite sofa costs $3,620 in cash. Jaquanna Wilson will purchase the sofa in 48 monthly installment payments. A 17% per year finance charge will be assessed on the amount financed. Find the finance charge, the installment price, and the monthly payment. The finance charge is $ (Type an integer or a decimal.)
- If this was a BELO plan with a pay rate of $22.00 per hour and a maximum of 53 hours, how much would Overwood be paid for 48 hours?On January 1, a flower shop contracts with customers to provide flowers for their wedding on June 2. The total contract price is $3,000, payable in equal installments for the next six months on the first of each month (with the first payment due January 1). How much will be recorded as revenue during the month of April?The Highest Cost Contractors, Inc. took out an installment loan on 11/1 in the amount of $12,000 for 69 months with an annual interest rate of 5%. On 11/30, when Highest Cost Contractors makes their first monthly payment (including principal and interest), what amount will be recorded into the interest expense account? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 ASUS f6 E3 f5 f7 f8 f9 f10 f11 团 & * 4 5 7 9. Y G H. K V B 8 16 F. %24
- Kumi Ltd permits its customers to pay with a credit card or to receive a percentage discount x for paying cash. For credit card purchases, the companyreceives 97% of the purchase price one-half month later. Determine the value of x that would make the two payment methods equivalentif the company’s annual rate of return is 14%.A contract requires payments of $2624.00 today, $ 4060.00 in 2 years, and $ 4091.00 in 5 years. When can the contract be fulfilled by a single payment equal to the sum of the required payments if money is worth 9% p.a. compounded monthly question mark State your answer in years and months (from 0 to 11 months). Question content area bottom Part 1 The contract can be fulfilled in enter your response here year(s) and enter your response here monthYou have a carry-over balance of $450 of credit card charges with no additional charges and you plan to just pay the minimum payment each month for the next two months. The Annual Percentage Rate (APR) is 15.99% and the minimum payment each month is 4% of the balance. Determine the finance charge, new balance, and minimum payment required for each of the next two months, and the carry over balance for month 3 in the table below: (round all answers to the nearest cent) Month Carry over Balance Finance charge new balance minium payment 1 450.00 2 3
- Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,100. Her loan requires a 25% down payment and equal monthly payments of $289.00 for 60 months. Calculate the total deferred payment price (in $). $ Need Help? Read It Watch It Master ItAn instalment contract for the purchase of a car requires payments of $280.49 at the end of each month for 3.75 years. Interest is 10% per annum compounded monthly. 1. The amount financed is: 2. The interest is:Prepare the amortization schedule for a fifteen-year loan of $100,000. The APR is 3% and the loan calls for equal monthly payments. The following table shows how you should prepare the amortization schedule for the loan. Month Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance 1 100,000.00