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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- What is the total contract value of these bookingsA contractor estimates maintenance costs for a new backhoe to be $500 for the first month with a monthly increase of 0.75%. The contractor can buy a 4-year maintenance contract for $20,000 at any point. If the contract is purchased at the same time as the backhoe is purchased, the dealer has offered a 10% discount. Use i = 1% per month. What should the contractor do?you take out an installment loan to purchase a time share costing $17,000. You make a down payment of $2,500 and finance the balance by making monthly payments of $718.66 for 24 months. Find the APR
- SorCo. Inc. has just entered into a sale agreement with a customer. The contract is for $600,000. However, the payments will be made as follows: 1 August 20X1 on date of delivery $400,000; 1 August 20X2 $100,000 and 1 August 20X3 $100,000. SorCo has estimated that the interest rate required for this customer is 8%. SorCo follows IFRS. Required: Prepare the journal entry required to record the sale on 1 August 20X1 and the receipt of cash on 1 August 20X2 and 20X3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations and round your final answers to the nearest whole dollar.)A gym offers an annual membership for an upfront payment of $1,175. Alternatively, a customer can choose to pay beginning-of-month payments of $110 for 12 months. What monthly compounded rate is the gym charging a customer who selects the monthly payment plan?25% of the price of a living room furniture is paid with a document with a face value of $4,000 and expiration in 30 days. 30% is settled through a payment within 60 days, another 30% with a document within 90 days of the purchase and the remaining 15% is left as an advance payment. Obtain a) The price of the furniture. b) The advance payment and the other two payments. c) The total interest charge. Assume that the furniture store charges 22.20% annually compounded by months on its credit sales.
- Gear 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?The payments required on a contractual obligation are $800 per month. The contract was purchased for $9,250 just before a regular payment date. The purchaser determined this price based on a required rate of return of 4.3% compounded monthly. How many payments will be required, include the partial final payment? 12 payments 24 payments 9 payments 6 payments 18 paymentsYou plan to visit Geneva, Switzerland in three months to attend an international business conference. You expect to incur the total cost of CHF 15,000 for lodging, meals and transportation during your stay. As of today, the CHF/USD rate is 1.1013 and the three-month forward rate is 1.1154. You can buy the three-month call option on CHF with the exercise rate of 1.1000 for the premium of $0.018 per SF. Assume that your expected future spot exchange rate is the same as the forward rate. The three-month interest rate is 3.2 percent per annum in the United States and 1.5 percent per annum in Switzerland. Calculate your expected dollar cost if you choose to hedge via call option on SF. (USD, no cents)