A refrigerator sold for 500 the store financed the, Ask an Expert

Economics

A refrigerator sold for $500. The store financed the refrigerator by charging 0.5% monthly interest on the unpaid balance. If the refrigerator is paid for with 30 equal end-of-month payments:

a) What will be the size of the monthly payments?

b) If the first payment is not made until one year after the purchase?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720343

Have any Question?Write your Review or question?

Related Questions in Business Economics

Do you believe corporation pose as a risk to our national

Do you believe corporation pose as a risk to our national economy and to domestic employees based upon external shocks to our economy as well as government regulations and Obamacare?

A rainstorm in portland oregon wiped out the electricity

A rainstorm in Portland, Oregon, wiped out the electricity in 10% of the households in the city. Suppose that a random sample of 70 Portland households is taken after the rainstorm. Estimate the number of households in t ...

Explain why the purchase and sale of used goods and of

Explain why the purchase and sale of used goods and of financial assets are not included in the calculation of GDP even though transactions in these items amount to billions of dollars daily.

Loan applicants whose credit score is less than 600 default

Loan applicants, whose credit score is less than 600, default on a loan, either in a minor or major way, about 10% of the time in a certain regional market. A random sample of 8 applicants in this market with credit scor ...

What are the implications of outsourcing key public

What are the implications of outsourcing key public responsibilities to global corporations for the Australian state and society?

In a survey ofnbsp3153nbspadultsnbsp1407nbspsay they have

In a survey of 3153 adults, 1407 say they have started paying bills online in the last year. Construct a? 99% confidence interval for the population proportion. Interpret the results. A? 99% confidence interval for the p ...

Currently fringe benefits make up about 30 of us workers

Currently, fringe benefits make up about 30% of U.S. workers' total compensation. Suppose the U.S. government decides to tax fringe benefits as ordinary income. How might this affect the level of fringe benefits as a sha ...

Question onethe following is the number of first year

QUESTION ONE The following is the number of first year students who selected the three mathematics units for trimester one; Unit Number of students Calculus only 20 Calculus but not Statistics 22 Calculus and Real analys ...

1 you are lost on the mythy island in the summer when

1. You are lost on the Mythy Island in the summer, when tourists are two-thirds of the population. If you ask a tourist for direction the answer is correct with probability ¾; answers to repeated questions are independen ...

Electric car technology has been improving and the us shale

Electric car technology has been improving and the U.S. shale gas oil supply has been increasing. What will be the impact on the crude oil market price? What will be the impact on the gas-burning auto market price? Expla ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert