MR. JONES DECIDES TO PURCHASE A CAR FOR $10,000. THE DEALER OFFERS TO FINANCE THE CAR AT 8% INTEREST. THE LOAN WILL WILL BE PAID OVER 4 YEARS WITH PAYMENTS MADE MONTHLY. WHAT IS THE PAYMENT AMOUNT THAT MR. JONES WOULD BE EXPECTED TO PAY

Expected monthly payment is $244.13

Explanation:

We proceed as follows;

The amount financed is the PV of the 48. monthly installments to be paid

against it, when discounted at the rate of 8%/12.

Hence, using the formula for finding PV of an annuity [monthly installments

constitute an annuity], we have the equality:

10000 = PMT*((1+0.08/12)^48-1)/((0.08/12)*(1+0.08/2)^48),

where PMT is the monthly payment to be made.

So, PMT = 10000*(0.08/12) * (1+0.08/12)^48/((1+0.08/12)^48-1) = $244.13

answer; blank (1) hrm specialists,blank(2); line managers;

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3