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You're trying to save to buy a new $190,000 Ferrari. You have $48,000 today that can be invested at your bank. The bank pays 5.0

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You're trying to save to buy a new $190,000 Ferrari. You have $48,000 today that can be invested at your bank. The bank pays 5.0 percent annual interest on its accounts. How long will it be before you have enough to buy the car? Multiple Choice 28.45 years 26.20 years 28.70 years 28.20 years 27.95 years Major Manuscripts, Inc. 2012 Income Statement Net sales $ 8,500 Cost of goods sold 7,500 Depreciation 300 Earnings before interest and 700 $ taxes Interest paid 35 Taxable income $ 665 Taxes 275 Net income $ 390 Dividends $ 192 Cash Accounts rec. Inventory Total Major Manuscripts, Inc. 2012 Balance Sheet 2012 $ 2.410 Accounts payable 950 Long-term debt | 2.750 Common stock $ 6,110 Retained earnings 3,390 9,500 Total liabilities & Jequity 2012 $ 2,260 270 $ 2,400 4,570 Net fixed assets Total assets 9,500 Major Manuscripts, Inc., is currently operating at 90 percent of capacity. All costs and net working capital vary directly with sales. The tax rate, the profit margin, and the dividend payout ratio will remain constant. How much additional debt is required if no new equity is raised and sales are projected to increase by 10 percent? Multiple Choice $226 Major Manuscripts, Inc., is currently operating at 90 percent of capacity. All costs and net working capital vary directly with sales. The tax rate, the profit margin, and the dividend payout ratio will remain constant. How much additional debt is required if no new equity is raised and sales are projected to increase by 10 percent? Multiple Choice $226 $218 $167 $611 $393 You want to buy a new sports car from Muscle Motors for $34,000. The contract is in the form of a 60-month annuity due at a 8.50 percent APR. Required: What will your monthly payment be? Multiple Choice $658.02 $706.51 $692.66 $697.56 $678.80

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