Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The balance after 11 months, including Interest, on a loan at 9.9% is $15,379.58. What are the principal and Interest components of the balance? (Do
The balance after 11 months, including Interest, on a loan at 9.9% is $15,379.58. What are the principal and Interest components of the balance? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Principal component Interest component A A Mr. and Mrs. Krenz are contributing to a Registered Education Savings Plan (RESP) they have set up for their children. What amount will they have in the RESP after eight years of contributing $500 at the end of every calendar quarter of the plan earns 6% compounded monthly? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Future value $ How much of the total amount is interest? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Interest Givens, Hong, and Partners obtained a $7000 term loan at 8.5% compounded annually for new boardroom furniture. Prepare a complete amortization schedule in which the loan is repaid by equal semiannual payments over three years. (Round your answers to the nearest cent. Do not round the Intermediate calculations.) Payment number Interest portion $ Principal portion $ Payment $ Principal balance $ 7,000.00 1 2 3 4 5 6 Toys-4-U manufactures a toy that it sells for $30 each. The variable cost per toy is $10 and the fixed costs for this product line are $100,000 per year. They estimate they can produce 8000 toys per production period. a. What is the break-even point in units? Break-even point toys per year b. What is the break-even sales revenue? Break-even sales revenue per year c. What is the break-even volume as a percent of capacity? (Round your answer to 1 decimal place.) Break-even volume d. What would their net Income be if they sold 6200 toys? Net Income e. What level of output is required to have a net income of $10,000? Level of output toys per year
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started