Question
Calculate the total cost, total depreciation, and annual depreciation (in $) for the following assets by using the straight-line method. (Round your answers to the
Calculate the total cost, total depreciation, and annual depreciation (in $) for the following assets by using the straight-line method. (Round your answers to the nearest cent.)
Cost | Shipping Charges | Setup Charges | Total Cost | Salvage Value | Estimated Useful Life (years) | Total Depreciation | Annual Depreciation |
---|---|---|---|---|---|---|---|
$88,300 | $625 | $2,500 | $ _____ | $7,000 | 7 | $ _______ | $ ________ |
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Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.)
Previous Balance | Annual Percentage Rate (APR) | Monthly Periodic Rate (as a %) | Finance Charge (in $) | Purchases and Cash Advances | Payments and Credits | New Balance (in $) |
---|---|---|---|---|---|---|
$1,027.61 | %_______ | 1% | $ ______ | $322.20 | $400.00 | $_______ |
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Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.)
Purchase (Cash) Price | Down Payment | Amount Financed | Add-on Interest | Number of Payments | Finance Charge | Monthly Payment |
---|---|---|---|---|---|---|
$766 | 10% | $ ______ | 7% | 12 | $ ______ | $________ |
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