After visiting several automobile dealerships, richard selects the car he wants. he likes its $11,500 price, but financing through the dealer is no bargain. he has $2,300 cash for a down payment, so he needs a loan of $9,200. in shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. that is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. richard borrows $9,200 for a period of two years at an add-on interest rate of 10 percent.

a. what is the total interest on richard's loan?
b. what is the total cost of the car?
c. what is the monthly payment?
d. what is the annual percentage rate (apr)?

Companies in the u.s. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. in 2011 hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. the following data show the number of cars in service (1000s) and the annual revenue ($ millions) for six smaller car rental companies (auto rental news website, august 7, 2012). excel file: data14-09.xls if required, enter negative values as negative numbers. a. select a scatter diagram with the number of cars in service as the independent variable. b. what does the scatter diagram developed in part (a) indicate about the relationship between the two variables? c. use the least squares method to develop the estimated regression equation (to 3 decimals). ŷ = + x d. for every additional car placed in service, estimate how much annual revenue will change. by $ e. fox rent a car has 11,000 cars in service. use the estimated regression equation developed in part (c) to predict annual revenue for fox rent a car. round your answer to nearest whole value. $ million hide feedback partially correct

Amanager of a store that sells and installs spas wants to prepare a forecast for january and june of next year. her forecasts are a combination of trend and seasonality. she uses the following equation to estimate the trend component of monthly demand: ft = 30+5t, where t = 1 in january of this year. seasonal relatives are 0.60 for january and 1.50 for june. what demands should she predict for january and june of next year

Present values. the 2-year discount factor is .92. what is the present value of $1 to be received in year 2? what is the present value of $2,000? (lo5-2)