Michael purchased a computer today during a no money down event. He will make payments of $226.51
Question:
Michael purchased a computer today during a "no money down" event. He will make payments of $226.51 at the end of each month for the next 12 months. These payments include interest at a rate of 16.5% compounded monthly. What was the original selling price of the computer?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
The original purchase price is the present value of the ...View the full answer
Answered By
Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Today is 1 January 2020. Jake just used $400,000 ($200,000 is from Jakes own investment and $200,000 is raised by taking a 5-year loan) to purchase a cafe franchise. To operate this business, Jake...
-
write a job description for Bill Ryan's job. What other information would you need to write a better job description? Remember, this is a job description, not a help wanted ad. Please do your own...
-
This case study on project evaluation is applicable for beginning courses in corporate finance or finance strategy. Two alternative investment options are available to evaluate. Challenges are...
-
Papas Fried Chicken bought equipment on January 2, 2013, for $ 39,000. The equipment was expected to remain in service for four years and to perform 11,000 fry jobs. At the end of the equipments...
-
Air enters the diffuser of a turbojet engine with a mass flow rate (m) of 65 kg/s at 80 kPa, -40oC and a velocity of 245 m/s. The pressure ratio for the compressor is 10, and its isentropic...
-
Phoebe Company ended its fiscal year on July 31, 2020. The companys adjusted trial balance as of the end of its fiscal year is as follows. Instructions a. Prepare the closing entries using page J15....
-
3 P 2 / 13 P 1 Perform the indicated calculation.
-
Non constant Dividends North Side Corporation is expected to pay the following dividends over the next four years: $8, $7, $5, and $2. Afterward, the company pledges to maintain a constant 5 percent...
-
What is your understanding of the relevance of research within forensic psychology? Describe how the three basic research designs could be used in forensic psychology research. Explain the strengths...
-
Whole Foods Market has shown steady growth at a time when traditional supermarkets have been flat. This could be attributed to a growing awareness of and demand for more natural foods. According to a...
-
Sebastian has made contributions of $2000 to his RRSP at the end of every six months for the past eight years. The plan has earned 5.5% compounded semiannually. He has just moved the funds to another...
-
Marika has already accumulated $18,000 in her RRSP. If she contributes $2000 at the end of every six months for the next 10 years, and $300 at the end of each month for the subsequent five years,...
-
In a particle accelerator, the particles in a beam of protons are traveling toward a target at a speed equal to \(0.100 c_{0}\). If the beam has a radius of \(0.100 \mu \mathrm{m}\) and carries a...
-
Write a MatLab program in which the guessing game from below is modified to allow the user to guess up to 4 times. If the number wasn't guessed correctly after the 4 tries, tell the user what the...
-
Identify at least 20 different materials that are used in various products at home.
-
The values of m for which y = is a solution to the DE zy" +2ry-2y=0 are (enter integers or fractions from smallest to largest) hint: smallest means to the left on the number line.
-
Analyze the therapeutic strategies the practitioner used to engage and communicate with the child. Explain how these strategies impacted the session. Describe the conclusions you would draw from...
-
Figure below depicts energy level transitions of hydrogen atom. Transitions A and B correspond to radiation wave lengths 656 nm and 122 nm. Find the radiation wave length corresponding to transition...
-
Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor hours are estimated to be 80,000. For Bergan Company, (A) Determine the predetermined factory...
-
The vapor pressure of the liquid NH, is measured at different temperatures. The following vapor pressure data are obtained. Temperature, K P, mmHg 217.1 223.4 234.7 588.1 Calculate the enthalpy of...
-
Calculate the mean and median of the respondents assets (ASSET). Is the mean greater than the median? If so, explain what that tells you about the distribution of assets.
-
Determine the mean and median of the amount of debt (DEBT) owed by the respondents. Briefly describe what the two statistics tell you. .
-
Calculate the variance of the following sample. 9 3 7 4 1 7 5 4
-
Implement the following C++ code fragment in assembly language. Use the block structured . IF and . WHILE directives. Assume that all variables are 32-bit integers. int array[] int lower 4; = 9; int...
-
(3pts) Each station on an Ethernet network has its own unique physical address, called a MAC address. The address is of the form xx-xx-xx-xx-xx-xx or XX-XXXXXXXXXXXXX, where each x is a hexadecimal...
-
Let x(n) = {0, 1, 2, 3}. 1. Compute its discrete-time Fourier transform X(e). 2 2. Sample X(e) at ka = k, k = 0,1,2,3. 4 Show that it is equal to X (k).
Study smarter with the SolutionInn App