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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Q: Sunset Photography requires a 40% deposit on all bookings. In March, they received deposits for…
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- As an independent consultant, you just booked a client for $1,000 per month, with the first payment due 1 month from today. What is the present value of your booking if the payments are contracted to last for 60 months, and the discount rate is 6.6% APR compounded monthly?You have been offered a contract to work as a consultant. The company will pay you $6215 per month. In addition, once you complete the work in 4 years, you will receive $46865. Your required return is 6.57%, what is this contract worth today? show all step and fomular. Answeryou 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
- 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)
- 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.) _____ monthsAn investor takes a loan for $40,000 to purchase inventory to start a business. The terms of the investor's loan state that the interest rate is 12%, interest is compounded monthly, and payments will be made in 12 equal end of month payments. How much would each payment be, and how much would the investor need to pay in month 7 to pay off the loan? Click here to access the TVM Factor Table calculator. Monthly payment - $ Payoff amount in month 7 = $A leasing contract calls for an immediate payment of $109,000 and nine subsequent $109,000 semiannual payments at six-month intervals. What is the PV of these payments if the annual discount rate is 14%? (Do not round intermediate calculations. Round your answer to 2 decimal places.).
- You 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 3A contract requires end-of-month payments of $240 for another 9 1/4 years. What would an investor pay to purchase this contract if she requires a rate of return of 4.5% compounded monthly? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Investor would pay $You carry over a credit card balance of $500 wuth an APR of 18.99%. You make a minimum payment of 8% each month. Round all values to the nearest cent. A. What is the finance charge for this first month? B. What is the new balance? C. What is the minimum payment for this month? D. What is the carry over balance for the next month?