subject
Business, 25.11.2021 14:10 0spholbrooks

Jack purchased a car for $22,000. The bank gave him an annual interest rate of 4. 3%. He will make monthly payments for 6 years (or 72 months). Jack followed these steps to determine his approximate monthly payments. Read through the steps, and then choose Jack’s approximate monthly payment from the dropâ€down menu. 1. Calculate the interest rate per period. 0. 043 12 ≠0. 00358 2. Add 1 to the interest rate per period. 1 0. 00358 = 1. 00358 3. Raise the number calculated in step 2 to the negative power of the number of loan payments to be made, and then subtract this number from 1. 1. 00358-(12)(6) = 1. 00358-72 ≠0. 7731 1 â’ 0. 7731 = 0. 2269 4. Divide the interest rate per period by the number calculated in step 3. 0. 00358 0. 2269 ≠0. 0158 5. Multiply the quotient from step 4 by the principal. Jack’s monthly payment ≠Complete step 5 to determine Jack's monthly payment for the loan. Round to the nearest cent.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 21:00
Chipotle mexican grill, the american mexican food chain restaurant, opened its first restaurant in the united states in 1993. in 2010, chipotle opened its first restaurant in the united kingdom in london on charing cross. by late may 2013, the company had 6 restaurants in london, but they have not been doing well even though the british have taken a liking to mexican food (boyle, 2013). why has this successful u.s. chain not seen the same success overseas? if you were chipotle's ceo, how would you fix this situation? what is an alternative means of venturing outside of its domestic markets that may allow for a competitive advantage? then, pick a company that has not yet expanded overseas, or if it has expanded, suggest a different strategy for entrance into an overseas market that you feel would be more strategic for the company. research its rivals in the global marketplace and market conditions in the overseas market you are targeting. justify your recommended entry strategy based on these industry and market conditions.
Answers: 1
question
Business, 22.06.2019 04:30
Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.
Answers: 1
question
Business, 22.06.2019 08:40
Mcdonald's fast-food restaurants have a well-designed training program for all new employees. each new employee is supposed to learn how to perform standardized tasks required to maintain mcdonald's service quality. due to labor shortages in some areas, new employees begin work as soon as they are hired and do not receive any off-the-job training. this nonconformity to standards creates
Answers: 2
question
Business, 22.06.2019 11:00
Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period
Answers: 3
You know the right answer?
Jack purchased a car for $22,000. The bank gave him an annual interest rate of 4. 3%. He will make m...
Questions
Questions on the website: 13722360