Wilderness Kayak Rentals structured payment system: First hour rate: $35 Each subsequent 30 minutes: Reduces by $5 from previous 30-minute rate Minimum charge $15 per 30 minutes Calculate 2.5 hours cost to this financial accounting problem.
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- Part A : GENERAL ACCOUNTING, SOLVE THE PROB. TUTORFrom this partial advertisement: $123.86 per month for 60 months $5,200 used car cash price $50 down payment a. Calculate the amount financed. Amount financed b. Calculate the finance charge. (Round your answer to the nearest cent.) Finance charge c. Calculate the deferred payment price. (Round your answer to the nearest cent.)ramon hernandez saw the following advertisement for a used volkswagen bug and decided to work out the numbers to be sure the ad had no errors. cash price $7,880 down payment $0 annual percentage rate 14.53% deferred price $11,131.80 or 60 payments at $185.53 per month a. calculate the amount financed: $7,880 b. calculate the finance charge. (round your answer to the nearest cent.): $3,251.80 c. calculate the apr by table lookup. (use table 14.1(b).) (round your answers to 2 decimal places.): 14.50% to 14.75% d. calculate the monthly payment by formula. (round your answer to the nearest cent.): ?? Calculate the monthly payment by table lookup at 14.50% (Use table 14.2 round your answer to the nearest cent): ??
- Provide answerA bill for a motorboat specifies the cost as P1, 200 due at the end of 100 days but offers a 4% discount for cash in 30 days. What is the highest rate, simple interest at which the buyer can afford to borrow money in order to take advantage of the discount? Ans. r = 21.4%ramon hernandez saw the following advertisement for a used volkswagen bug and decided to work out the numbers to be sure the ad had no errors. cash price $7,880 down payment $0 annual percentage rate 14.53% deferred price $11,131.80 or 60 payments at $185.53 per month a. calculate the amount financed: b. calculate the finance charge. (round your answer to the nearest cent.): c. calculate the apr by table lookup. (use table 14.1(b).) (round your answers to 2 decimal places.): d. calculate the monthly payment by formula. (round your answer to the nearest cent.): Calculate the monthly payment by table lookup at 14.50% (Use table 14.2 round your answer to the nearest cent):
- Ramon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,850 Down payment $0 Annual percentage rate 12.78% Deferred price $10,715.40 or 60 payments at $178.59 per month Calculate the amount financed: $7,850 Calculate the finance charge: 2,865.40 Calculate the APR. Note: Round your answers to 2 decimal places. APR: between ??% and ??% Calculate the monthly payment by formula. Note: Round your answer to the nearest cent. Calculate the monthly payment by table lookup at 13.00%. (Use Table 14.2.) Note: Round your answer to the nearest cent. TABLE 14.2 Loan amortization table (monthly payment per $1,000 to pay principal and interest on installment loan) Terms in months 7.50% 8.00% 8.50% 9.00% 10.00% 10.50% 11.00% 11.50% 12.00% 12.50% 13.00% 13.50% 14.00% 14.50% 15.00% 15.50% 16.00% 6 $ 170.34 $ 170.58 $ 170.83 $ 171.20 $ 171.56 $ 171.81 $ 172.05 $ 172.30 $ 172.55 $…Complete the following table: Amount Number of monthly Amount of monthly Total of monthly Total finance Purchase price of product Schwinn Mountain Bike Down payment financed payments payments payments charge 238 %24 100 12 12.50 acer %24 %24A $15,000 personal loan charges a rate of 6%, compounded monthly and charges a $250 administration fee at the outset. What is the effective cost of the loan? 6.06% 6.10% 6.17% 6.27% The answer is 6.27% but I would like to know how to solve this problem. Thank you.