answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gnesinka
2 months ago
13

Tim wants to buy a new Dodge Ram pickup, which costs $40,000. He will pay a down payment of 10 percent and finance the rest at 1

2 percent. If he finances the vehicle over 5 years, how much will his total finance charge be?
Business
1 answer:
stepan [3.5K]2 months ago
4 0

Answer:

total finance charge = $12,048

Explanation:

The total finance charge represents the combination of interest and additional charges a customer incurs for borrowing.

Tim will put down $4,000 and finance $36,000 at an interest rate of 12% over a period of 60 months. His monthly payment will be $800.80, resulting in a total payment of $800.80 x 60 = $48,048 over 5 years.

To calculate the total finance charge, subtract the principal amount of the loan from $48,048:

total finance charge = $48,048 - $36,000 = $12,048

You might be interested in
It is April 19, 2012 and you suddenly remember that your credit card bill is due the next day. You have the money in your checki
Nady [3600]

Answer: One potential action is to contact the credit card company to inquire if the payment can be made over the phone.

Explanation:

Other alternatives for settling a credit card bill without mailing include online payments. You'll need to create an online account, which typically requires your account number and some identification details. After registering, you can select the pay now feature to use your debit card or an online checking option for payment. It will process swiftly, though it may take a day to reflect in your account.

Most credit card companies offer an automated service allowing customers to make payments during the call. You'll require your card number, social security number, and debit card details for this transaction. While these payments are commonly free, it may vary based on the specific credit card provider.

8 0
2 months ago
All of the following are true about the project scope statement EXCEPT:a.It is an output of the Verify Scope process. b.It descr
Free_Kalibri [3773]

Answer:

a. This is a result of the Validate Scope process.

Explanation:

The project scope statement serves as a resource that outlines the key deliverables of a project, detailing essential milestones, all necessary requirements, constraints, and assumptions. It thoroughly explains the deliverables of the project along with the necessary work needed to accomplish those deliverables. Additionally, it facilitates a shared understanding of the project scope among stakeholders. Furthermore, it might include clear exclusions from the scope that can help in aligning stakeholder expectations. It is a product of the scope management process and not the verify scope process, meaning that all other choices are valid while option "a" is incorrect.

7 0
2 months ago
1.
Mariulka [3825]
<span>1. Emir's request for an office with windows and a pleasant view indicates his desire for a pleasant working atmosphere. Thus, the answer is "b. his job environment". 2. Lei cycles to work daily to prep for the Olympics, which shows that her principles and work ethic are significant to her. Therefore, the answer is "d. her values".</span>
4 0
3 months ago
Other questions:
  • when investors doubt the creditworthiness of a borrower, what should happen to the price and yield of a bond
    7·1 answer
  • General Dynamics (GD) is a manufacturer of escalators.
    5·1 answer
  • Ohno Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the com
    9·1 answer
  • Holly uses a perpetual inventory system. Holly sells $3,500 of blue jeans. The customer later brings $420 of blue jeans back to
    8·1 answer
  • Bravo Company had a beginning Accounts Receivable account balance of $380. During the period Bravo' sold goods on account for $1
    12·1 answer
  • On October 12 of the current year, a company determined that a customer's account receivable was uncollectible and that the acco
    5·1 answer
  • What would happen to the equilibrium price and quantity of lattés if coffee shops began using a machine that reduced the amount
    11·1 answer
  • Extreme Adventurer, an outdoor nature magazine, marketed to potential customers who recently purchased camping equipment and fou
    13·1 answer
  • Bright Company purchased $10,000,000 (face amount) of 10% bonds of Enterprise Company on January 1, 2021, paying $8,853,000. The
    13·1 answer
  • Construction Products Company and Dante enter into a contract for a sale of bricks and stones. Construction Products knows the p
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!