To purchase $11,500 worth of lab equipment for his business, Deon made a down payment of $1500 and took out a business loan for the rest. After 3 years of paying monthly payments of $304.23, he finally paid off the loan. (a) What was the total amount Deon ended up paying for the equipment (including the down payment and monthly payments)? X 5 ? $0 (b) How much interest did Deon pay on the loan? $0

Q: Janet purchased a new house for $120,000, obviously not in New York. She paid $35,000 down and…

A: Cost of house = $ 120,000 Down payment = $ 35,000 Loan amount (PV) = 120,000-35,000 = $ 85,000…

Q: Hans borrowed money from an online lending company to invest in antiques. He took out a personal,…

A: The Hans borrowed money from an online lending company to invest in antiques. He took personal ,…

Q: What is the finance charge (in $) on the loan? $   (b) Use Table 13-1 to find what annual percentage…

A: Finance Charge: It is the cost in relation to borrowing money or the payment of any loan…

Q: Belinda borrowed $23,500 at simple interest rate of 5.70% p.a. from her parents to start a business.…

A: Simple interest is the simple interest and there is interest on the principal loan amount and used…

Q: evin bought a washer and dryer for $1050 but only had a down payment of $150.00. He financed the…

A: In add on method we simply add interest for given period and add to that with principal amount.

Q: To purchase s11,700 worth of lab equipment for her business, Jenny made a down payment of s1600 and…

A: This is the case of an amortized loan. An amortized loan is that loan in which the periodic payments…

Q: What information is missing that is necessary for you to solve this problem? "David buys a car for…

A: A question has been stated. However information provided there are not adequate. The missing pieces…

Q: Jean borrowed $3600 from the bank in order to buy a new piano. She will pay it off by equal payments…

A: Interest-  The monetary payment for the privilege of borrowing money is known as interest, and it is…

Q: Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,700 and financed…

A: Cost of sailboat = $8,350Down payment = $1,700Monthly payment = $237.38Number of period = 36 months

Q: To purchase $11,600 worth of machinery for her business, Jane made a down payment of $1700 and took…

A: Jane purchased machinery for her business, making an $1,700 down payment and securing a loan for the…

Q: Tiffany purchased a machine for $22,000 for his company. He paid 5.00% of this amount as a down…

A: Using loan amortization table to calculate the interest and principal portion

Q: To pay for a  $22,300  truck, Jina made a down payment of  $4900  and took out a loan for the rest.…

A: As per the information provided : Jina to pay $22,300 for a truck. She made a down payment of $4,900…

Q: I need help working out this problem. Please explain in detail.   Polly Flin borrowed $5,000 for 60…

A: The question is based on the concept of simple interest calculation and adjustment in principle by…

Q: Kristen purchased a car for $43,000; she paid $2150 as a down payment and financed the balance…

A: Here, Value of Car is $43,000 Down Payment is $2,150 Therefore, Loan Amount is : =$43,000-$2,150…

Q: Val bought a car for $48,000, putting down $15,000 cash and financing the remainder. How much are…

A: We need to use loan amortization formula below to calculate annual payment.  where P=Loann=number of…

Q: The purchaser of a car paid $10,000 cash and agreed to pay $3000 at the end of 6 months for 10…

A: Calculate the future value of the annuities (PMT) that are not paid till the end of 3rd Year.…

Q: 1. Larry borrowed $1,000 through a loan shark, two years later he ended up paying $1,500 to settle…

A: The Present Value refers to a concept that states the discounted value or say value at today's time…

Q: Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,300 and financed…

A: The Annual Percentage Rate (APR) is similar to the interest rate. It is on a yearly basis that is…

Q: Jason bought a home in Arlington, Texas, for $127,000. He put down 25% and obtained a mortgage for…

A: Price of home = $ 127000 Down payment = 25% Loan amount (PV) = 127000*(1-0.25)…

Q: 4 years. His Monthly loan was 23.03. What was the monthly payments and what was the total interest…

A: Loans are to be paid by the monthly payments that carry the payment for interest and payment for…

Q: a) What is the finance charge (in $) on the loan? $ 1,559.68 Incorrect: Your answer is incorrect.…

A: Interest refers to the cost of money borrowed from a lender. It can be simple or compound. It is…

Q: 1. On Sep and fin: started the mic charges bank o Answ

A: Motorcycle cost$10,000Down payment$1,000Interest rate9.6%Number of years5 yearsNumber of payments…

Q: To purchase $ 11,900 worth of restaurant equipment for his business, Greg made a down payment of…

A: Total amount paid by Greg is equal to: = Down Payment made by Greg + (Number of payments * Payments)

Q: Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,700 and financed…

A: A finance charge refers to the payment made in addition to the borrowed amount. The finance charge…

Q: Fifteen years ago, the Budai family bought a home and financed $150,000 with a 30-year mortgage at…

A: No. of years = 30 Interest Rate = 8.2% Financed Amount = $150,000 Compounded = Monthly Monthly rate…

Cash and Liquid Asset Management

Cash management is the process of controlling cash inflow & cash outflow, managing the cashflows inside the business, and utilizing the cash for business operation at any point in time. A business has to maintain a certain level of cash to meet various financial obligations. Cash management is essential because businesses must utilize the cash to generate maximum profit. Cash management also ensures to maintain maximum liquidity in the business.