{"id":23608,"date":"2022-01-08T13:35:03","date_gmt":"2022-01-08T13:35:03","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/accounting-questions-business-finance-homework-help\/"},"modified":"2022-01-08T13:35:03","modified_gmt":"2022-01-08T13:35:03","slug":"accounting-questions-business-finance-homework-help","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/accounting-questions-business-finance-homework-help\/","title":{"rendered":"Accounting questions | Business & Finance homework help"},"content":{"rendered":"
\n

1. determine the difference between the monthly payments on a $120,000 home at 61\u22152% and at 8% for 25 years<\/p>\n

\u00a0<\/p>\n

$140.10 per month<\/p>\n

Cash price: $5,600<\/p>\n

Down payment: $0<\/p>\n

Cash or trade months with bank-approved credit; amount financed: $5,600<\/p>\n

Finance charge: $2,806<\/p>\n

Total payments: $8,406<\/p>\n

What is the APR by table lookup?<\/p>\n

\u00a0<\/p>\n

A. 16.50%\u201316.75%<\/p>\n

B. 16.75%\u201317.00%<\/p>\n

C. 17.00%\u201317.25%<\/p>\n

D. 17.25%\u201317.50%<\/p>\n

\u00a0<\/p>\n

2. Joe Sullivan invests $9,000 at the end of each year for 20 years. The rate of interest Joe gets is 8%<\/p>\n

annually. Using the tables in the Business Math Handbook that accompanies the course textbook,<\/p>\n

determine the final value of Joe’s investment at the end of the 20th year on this ordinary annuity.<\/p>\n

A. $411,858.00<\/p>\n

B. $411,588.00<\/p>\n

C. $88,632.90<\/p>\n

D. $88,362.90<\/p>\n

\u00a0<\/p>\n

3.Jen purchased a condo in Naples, Florida, for $699,000. She put 20% down and financed the rest at<\/p>\n

5% for 35 years. What are Jen’s total finance charges?<\/p>\n

A. $606,823.20<\/p>\n

B. $457,425.60<\/p>\n

C. $626,863.20<\/p>\n

D. $600,000.00<\/p>\n

\u00a0<\/p>\n

4.Cost of car: $26,000<\/p>\n

Residual value: $6,000<\/p>\n

Life: 5 years<\/p>\n

Using the given information, determine the depreciation expense for the first year straight-line method?<\/p>\n

A. $6,000<\/p>\n

B. $4,000<\/p>\n

C. $4,400<\/p>\n

D. $5,200<\/p>\n

\u00a0<\/p>\n

5. John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The<\/p>\n

bank’s loan was for 60 months, and the finance charges totaled $4,900. What is his monthly payment?<\/p>\n

A. $332.33<\/p>\n

B. $232.33<\/p>\n

C. $323.33<\/p>\n

D. $313.33<\/p>\n

\u00a0<\/p>\n

6. At the beginning of each year, Bill Ross invests $1,400 semiannually at 8% for nine years. Using the<\/p>\n

tables in the Business Math Handbook that accompanies the course textbook, determine the cash value of<\/p>\n

the annuity due at the end of the ninth year.<\/p>\n

A. $37,399.68<\/p>\n

B. $38,739.68<\/p>\n

C. $37,339.68<\/p>\n

D. $37,939.86<\/p>\n

\u00a0<\/p>\n

7. Dick Hercher bought a home in Homewood, Illinois, for $230,000. He put down 20% and obtained a<\/p>\n

mortgage for 25 years at 8%. What is the total interest cost of the loan?<\/p>\n

A. $242,144.00<\/p>\n

B. $184,000.00<\/p>\n

C. $242,411.00<\/p>\n

D. $327,372.80<\/p>\n

\u00a0<\/p>\n

8. Lee Company has a current ratio of 2.65. The acid test ratio is 2.01. The current liabilities of Lee are<\/p>\n

$45,000. Assuming there are no prepaid expenses, the dollar amount of merchandise inventory is<\/p>\n

A. $28,800.<\/p>\n

B. $90,450.<\/p>\n

C. $28,008.<\/p>\n

D. $90,540.<\/p>\n

\u00a0<\/p>\n

9. Ben Brown bought a home for $225,000. He put down 20%. The mortgage is at 6 \u00bd% for 30 years.<\/p>\n

Using the tables in the Business Math Handbook that accompanies the course textbook, determine his<\/p>\n

monthly payment.<\/p>\n

A. $1,139.40<\/p>\n

B. $1,319.40<\/p>\n

C. $1,319.04<\/p>\n

D. $1,216.80<\/p>\n

\u00a0<\/p>\n

10. A truck costs $35,000 with a residual value of $2,000. Its service life is five years. Using the decliningbalance<\/p>\n

method at twice the straight-line rate, the book value at the end of year 2 is<\/p>\n

A. $22,000.<\/p>\n

B. $35,000.<\/p>\n

C. $12,600.<\/p>\n

\u00a0<\/p>\n

D. $33,000.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

1. determine the difference between the monthly payments on a $120,000 home at 61\u22152% and at 8% for 25 years \u00a0 $140.10 per month Cash price: $5,600 Down payment: $0 Cash or trade months with bank-approved credit; amount financed: $5,600 Finance charge: $2,806 Total payments: $8,406 What is the APR by table lookup? \u00a0 A. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-23608","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/23608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=23608"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/23608\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=23608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=23608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=23608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}