Q1-10) You want to buy a car on credit for $12,000 at a rate of 5% for 3 years. Create an amortization table of the car loan that shows the portion of interest and principal on each monthly payment. The beginning balance at month 20 is about

Select one:

a. 4,891

b. 2,891

c. 3,891

d. 5,891

Q1-9) Meyerson's Bakery is considering the addition of a new line of pies to its product offerings. It is expected that each pie will sell for $13 and the variable costs per pie will be $3. Total fixed operating costs are expected to be $25,000. Meyerson's faces a marginal tax rate of 30%, will have interest expense associated with this line of $4,000, and expects to sell about 3,500 pies in the first year. Use the Goal Seek tool to determine the selling price per pie that would allow Meyerson's to break even in terms of its net income.

Select one:

a. 12.29

b. 10.29

c. 11.29

d. 13.29

Q1-11) You want to buy a car on credit for $12,000 at a rate of 5% for 3 years. Create an amortization table of the car loan that shows the portion of interest and principal on each monthly payment. The ending balance at month 30 is about

Select one:

a. 2,716

b. 1,167

c. 2,667

d. 2,127