Dennis has just made the final monthly payment necessary for paying off his car financing. When he purchased the car three years ago, it had a list price of $23,878. Dennis traded in his good-condition 2001 Honda Odyssey and financed the rest of the cost at an interest rate of 11.82%, compounded monthly. The dealer gave Dennis 85% of the trade-in value of his car, listed below. Dennis was also responsible for paying 9.05% sales tax, a $1,474 vehicle registration fee, and a $225 documentation fee.

Required:
All told, how much did Dennis pay in interest?

Answers

Answer 1

Using an online auto loan calculator, the total amount in interest paid by Dennis for the car is $689.92.

What is interest?

Interest is the finance charge or expense incurred for taking an auto loan.  Loans usually come with interest rates.  The interest amount is computed as a percentage of the loan amount.

Auto Loan Calculator:

Total Price Monthly Payment

Auto Price = $23,878

Loan Term = 36 months (12 x 3)

Interest Rate = 11.82%

Down Payment = $0

Trade-in Value = $20,296.30 ($2

Sales Tax = 9.05%

Title, Registration and Other Fees = $1,699 ($1,474 + $225)

Monthly Pay:   $118.66

Total Loan Amount = $3,581.70

Sale Tax = $324.14

Upfront Payment = $2,023.14

Total of 36 Loan Payments = $4,271.62 ($118.66 x 36)

Total Loan Interest = $689.92

Total Cost (price, interest, tax, fees) = $26,591.06

Thus, the total amount in interest paid by Dennis for the car is $689.92.

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Related Questions

Kira, the general manager of a travel agency, believes that her workers are responsible and capable, and that they can be trusted when given responsibility. Kira is an example of a ________ manager.

Answers

Kira is a theory Y manager if she believes that her workers are capable and can be trusted to meet up with responsibilities.

Who is a Theory Y manager?

This is a term that is used to refer to managers or people that have an optimistic approach to life and people.

The people like Kira are trusting and love to use a participatory style of management.

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True or False: Keeping his maximum willingness to pay for an antique car in mind, Andrew will not buy the antique car because it would be worth less to him than its market price of $300,000

Answers

Supposing that Andrew's maximum willingness to pay for an antique car is $250,000, it is TRUE that Andrew will not buy the antique car because it would be worth less to him than its market price of $300,000

What is the maximum willingness to pay?

The maximum willingness to pay represents the maximum price Andrew, in this instance, is willing to pay for the antique car.  Since his maximum willingness to pay is $250,000, and the market price is $300,000, Andrew is not likely to buy the car.

Thus, it is TRUE that keeping his maximum willingness to pay in mind, Andrew will not buy the antique car because it would be worth less to him than its market price of $300,000.

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Abby takes a ride-sharing service to ride from her home to the mall. The ride-sharing service charges $1. 75 per mile plus a one-time charge of $5. 0. Which equation can be used to find y, the total cost of the ride, given x represents the number of miles of the ride?.

Answers

Answer:

y = 1.75x + 5

Explanation:

Ethan Djuna is a territorial salesperson for Lennox heating and air conditioning systems. Every six months Djuna's sales manager gives him feedback by showing Djuna a comparison between his actual sales figures and his sales objectives. This feedback is called a _____ appraisal.

Answers

Answer:

preformance

Explanation:

RATIONALE: A performance appraisal is a comparison of actual performance with expected performance to assess an employee's contributions to the organization.

Select all that apply In a perpetual system, the entry to record a purchase of merchandise on account includes a ______.

Answers

In a perpetual system, the entry to record a purchase of merchandise on account includes a credit to account payable or debit to inventory

True or false: Stock market valuations are often unreliable due to market fluctuations and are therefore not used to assess competitive advantage. True false question. True False

Answers

The statement that Stock market valuations are often unreliable due to market fluctuations and are therefore not used to assess competitive advantage is false.

Because, When the  stock's intrinsic value is known it is possible for, an investor to determine whether the stock is over valued or it is under-valued as regards the current market price so we can't say it is often unreliable.

What is stock valuation?

Stock valuation  can be regarded as a  method of determining the intrinsic value.

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Ellen purchased a dishwasher, which cost $315 before the 9. 22% sales tax. She used the machine an average of 10 times per week for the next six years, at which point she replaced it. Each time she ran the dishwasher it cost her $0. 09 for water and $0. 13 for electricity. What was the lifetime cost of Ellen's dishwasher? a. $1,030. 44 b. $686. 40 c. $1,093. 73 d. $749. 69.

Answers

Cost is the amount of spending on a product or service. The lifetime cost of the dishwasher was $1029.8 which is $1030 approximately.

What is the cost?

Cost is the amount incurred on acquiring a product or using a service. Cost is the value of the product or service.

The lifetime value of an asset is the total expense incurred on the asset from acquisition till disposal.

The lifetime cost of the dishwasher will be the sum of its cost, sales tax, and water and electricity charges for 6 years.

The water and electricity charges are $0.09 and $0.13 per use. The total number of times the dishwasher is used can be calculated as:

The number of use per week are 10, number of weeks in a year are 52, and number of years of use are 6.

[tex]\rm Number\:of\:uses = 10\:times\times 52\:weeks\:\times6\:years\\\\\rm Number\:of\:uses = 3120\:times[/tex]

Therefore, the water and electricity charges will be:

[tex]\rm Water\:charges = 3,120 \times \$0.09\\\\\rm Water\:charges = \$280.08\\\\\rm Electricity \:charges = 3,120\times \$0.13\\\\\rm Electricity \:charges = \$405.60[/tex]

The cost of the dishwasher will be a combination of its purchase price and sales tax. Therefore:

[tex]\rm Cost\:of\:dishwasher = \$315 + 9.22\%\\\\\rm Cost\:of\:dishwasher = \$344.043[/tex]

The lifetime cost of the dishwasher will be:

[tex]\rm Lifetime\:cost\:of\:dishwasher = \$344.043 + \$280.08 +\$405.60\\\\\rm Lifetime\:cost\:of\:dishwasher = \$1029.7\\\\\rm Lifetime\:cost\:of\:dishwasher = \$1030 (approximately)[/tex]

Therefore the correct option is A.

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Which savings account will earn you the least money?
One that earns simple interest daily.
One that earns simple interest monthly.
One that compounds interest daily.
One that compounds interest monthly.

Answers

The savings account that would earn the least amount of money is the account that earns a simple interest monthly.

What does simple interest and compound interest mean?

Simple interest rate is the interest that is paid only on the principal portion of a loan. This means that the debtor does not pays interest on the interest rate already accrued. This differs from compound interest where the debt holder pays interest on the principal and the interest rate already accrued.

This means that an account that earns a compound interest would have a higher yield when compared with an account that earns a simple interest.

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Suppose the government in your city imposes a $0.50 excise tax on gasoline. The burden of this tax falls on: a) sellers of gasoline b) buyers of gasoline c) the city government d) both buyers and sellers

Answers

The burden of this tax falls on both buyers and sellers.

What is the burden of tax?

Burden of tax refers to who pays for the tax imposed by the government. The people who bear the burden of tax is both the buyer and seller of the good.

The party with the more elastic demand bears more burden of tax. Whole the party with the less elastic demand bears less burden of tax.

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Communism relies on what form of economic arrangement?.

Answers

Answer:

Communism aims to replace private property and a profit-based economy with public ownership and communal control of at least the major means of production (e.g., mines, mills, and factories) and the natural resources of a society.

Explanation:

Communism aspires to replace private property and a profit-driven economy with public ownership and communal management of at least the key production methods.

If publishing at a newspaper company is arranged so that editors, editorial assistants, and reporters coordinate to determine which stories should be published, this community arrangement would align with ideas brought forth by

Answers

The community arrangement of a newspaper company publication that was organized in a coordinated way by editors, editorial assistants and reporters, this arrangement will align with the ideas brought by Mary Parket Follet.

Mary Parker Follet Theory

The American author became known as the "Management Prophet" because her theory was based on a broader idea of ​​organizational democracy, going beyond the concepts of economic man, to develop concepts whose focus was human relations.

Therefore, Mary Parker Follet's theory is based on the development of man as a social and cooperative being, which develops from his relationships and behavior patterns, being contrary to Taylorism and based on the appreciation of each individual and integration of work.

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An agile supply chain strategy works best with: __________
a) short lead time, unpredictable demand
b) short lead time, predictable demand
c) long lead time, unpredictable demand
d) long lead time, predictable demand

Answers

Answer:

its b

Explanation:

I hope this helps you

An agile supply chain strategy works best with short lead time, unpredictable demand.

What is an agile supply chain strategy?

Using responsiveness, competence, adaptability, and rapidity to manage how successfully a supply chain entity functions on a daily basis is what is generally meant by the term "agile supply chain."

Flexible supply chain management is prioritised. It's for businesses that wish to quickly adjust to shifting circumstances. With this approach, it is simpler to modify sourcing, logistics, and sales in reaction to variables like economic fluctuations, technological advancements, and client demand.

An agile supply chain typically holds off on completion of production until it is clear what the demand from the market is. While short-term projections aid in responsiveness, flexible supply chains excel at adapting to demand as it arises. When making quickly mutable and customizable goods like clothing, this method is helpful.

Short order lead times are often the product of an agile supply chain. Additionally, it responds to customers quickly. And the method allows for flexibility when something unanticipated occurs, like a typical supplier being unable to fulfil an order. With an agile supply chain, you can also react to new market opportunities more swiftly.

Supporting answer

Hence option A is correct answer

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#SPJ2

Suri owns a small gift shop in Chicago. She hopes the economy will rebound this fall as she has to order her Christmas merchandise and other holiday gifts in February. She wants to make sure she has enough goods for the surge in sales that the holiday season usually brings to her retail store, so she orders more than the previous year. Here, Suri is using __________ to be sure she has enough gifts for those extra customers that she hopes will bear the economic woes and shop for holiday presents

Answers

Here Suri is using buffering to make sure that the extra customers have enough gifts.

What is buffering?

This is a word that is used to lessen the impact of something. Suri is using Buffering as a way of trying to lessen the impact of the economic woes.

Buffering also helps by lessening the shock that may be eminent in the economy.

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International organizations prefer to rely on Blank______ for measuring the value produced in an economy.

Answers

Answer:

I thinks it's gross national income

Explanation:

I am guessing

What process group does the project integration management knowledge area map to through the activities of developing project charters

Answers

The process in the project integration management knowledge illustrated is initiating.

What is project integration?

It should be noted that project integration simply means the coordination of all the elements that are in a project.

The process group that the project integration management knowledge area map to through the activities of developing project charters is the initiating group.

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THINK
1. Some elements of the business plan require outside source
information. If your business manufactures cardboard boxes
what specific sources might you need to consult?

Answers

The sources one might need to consult are;

Existing Cardboard boxes producersCardboard paper manufacturersMajor wholesalers and retailers

Feasibility studies in Business planning

The feasibility study provides and analyzes several alternatives or methods of achieving business success.

Additionally, the feasibility study helps to narrow the scope of the project to identify the best business conditions.

On this note, some outside sources of information might need to be consulted regarding some Elements of a business plan.

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Suppose that Ciera rear-ends Dianne’s car while Dianne is sitting at a stop light. Dianne claims that her injuries resulting from her accident are substantial, and she demands that Ciera pay her $50,000. Ciera initially offers merely to pay Dianne’s medical expenses ($9,760), but she eventually offers to pay $25,000 in return for Dianne’s execution of a settlement agreement. As part of the settlement agreement, Dianne must promise not to sue Ciera for her injuries. If the parties consent to the settlement agreement, Dianne’s promise not to sue is what type of consideration?

Answers

The promise of Dianne not to sue is Forbearance type of consideration.

What is Forbearance type of consideration?

This is regarded as a kind of intentional delay in taking a debt or demanding the carrying out duties on a contract, for a time being

The act of Forbearance is often seen or used for a promise by the debtor to pay an additional amount.

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Orlando, the owner of a belgian event-planning company called memory makers, plans to open a marketing company that focuses on product launches, called kick start, in germany. Kick start will be totally owned and controlled by memory makers, which makes kick start a ________ of memory makers.

Answers

Kick start will be totally owned and controlled by memory makers, which makes kick start a subsidiary of memory makers.

What is a Subsidiary?

This refers to the branch of a company which performs a different function from the parent company but has the same vision and mission which is to increase profit and sales.

With this in mind, we can see that because Orlando who owns an event planning company opens a marketing company so as to focus on product launches, this shows that they are a subsidiary.

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When a person intentionally deceives another person or company for personal gain, this is referred to as . (Enter one word per blank)

Answers

Fraud can be defined as a form of intentional deception and cheating, such as when a person intentionally betrays another person or company for personal gain.

Importance of ethics for society

Ethical behavior is essential for the development and maintenance of society, as it establishes fair and positive behaviors that protect the rights, values ​​and duties of each citizen.

Ethics therefore must be applied at all levels and social spheres, to reduce fraud used for personal benefit and to strengthen values ​​of justice, equality and peace among individuals.

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What is considered a human rights abuse by an American company may be viewed as an acceptable business practice in China, which illustrates that ______. Multiple choice question. better ethics comes with increased standard of living the United States is often overly critical of foreign business practices the United States has more highly evolved ethical practice moral standards are relative to particular societies

Answers

What is considered a human rights abuse by an American company may be viewed as an acceptable business practice in China, which illustrates that moral standards are relative to particular societies.

What are moral standards?

In summary, moral standards are what a person of society considers to be right or wrong regarding human behavior. These standards are often different in the distinct cultures and societies around the world, often due to differing histories that helped to form them.

Therefore, we can confirm that the situation described in the question is a direct result of the moral standards being relative to particular societies.

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London corp. Issues 1,000 shares of stock for $20 per share. What are the effects of this transaction?.

Answers

The effect of this transaction is : Common stock is increased, Cash is increased.

What is issue of shares?

Issue of Shares refers to the process in which companies allot new shares to shareholders. Shareholders in this scenario can either be individuals or corporates.

With regards to the above, Common stock is increased, Cash is increased. This is because issuance of stock increases common stock balance while value in cash account is also increased.

Hence, the effect of this transaction is : Common stock is increased, Cash is increased.

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Why is it important to be extremely careful when completing your 1040 form?.

Answers

Answer: mistakes on your 1040 form make you ineligible for employment during the next year

Explanation:

The four administrative principles account for our rapidly changing work environments by modifying the earlier developed four functions of management. Group of answer choices True False

Answers

The four administrative principles account for our rapidly changing work

environments by modifying the earlier developed four functions of

management is True.

What is Management?

This includes how a company or institution is run and it comprises of four

facets which include:

Planning, OrganizingLeadingControlling

The principles which determines how an organization is controlled is

influenced by changing work environments.

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No federal advertising guidelines regulate the marketing of unhealthy food to children. Some companies, like burger king, voluntarily commit to:.

Answers

Some companies such as Burger king voluntarily commit to using organic food for all their products.

What is organic food?

This is a term that is used to refer to food that was grown through natural and healthy agricultural practices.

The foods that are made are usually without the use of any form of artificial or synthetic substances.

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As country income level rises from middle-income to high-income, what do we expect will happen over time to the prevalence of tobacco smoking?.

Answers

When a country switches from middle income to high income, it is expected that the prevalence of smoking goes down.

Prevalence of smoking by income level

Studies have shown that nations that are high income have lower and reducing rates of tobacco smoking.

This is the reverse of the trend witnessed in middle and low income countries where smoking prevalence is on the increase.

In conclusion, there will be less smoking.

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If a company's stock price (P0) goes up, and nothing else changes, Ke (the required rate of return) should

Answers

Answer:

It should go down..........

What are some tasks commonly performed in Consumer Services jobs? Check all that apply. Explaining paperwork giving spiritual guidance handling questions and complaints documenting information providing grooming services planning activities and events.

Answers

Answer:

A, C, and D

Explanation:

I just did it

Answer:

A, C, and D

Explanation:

How can you increase your attractiveness as a customer—i.e., become a customer of choice? a. Call the supplier to ask questions b. Tell the supplier what you can do for him c. Offer a transactional relationship d. Ensure that you are a source of learning e. None of the above

Answers

You can make yourself a customer of choice when you d. Ensure that you are a source of learning.

Why would this make you a customer of choice?

Suppliers are always looking to improve so that they can offer a better product and gain more market share.

If you therefore give them feedback on the goods and services purchased, they will learn from it and improve services.

In conclusion, option D is correct.

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Irene is filling out an application form for the position of an elementary school teacher. While she is filling it out, she comes across a section that asks for information about her high school, college, courses, and grades. Which of the following sections of the application form is being referred to here?
a) Mailing address
b) Racial details
c) Work experience
d) Declaration
e) Educational background

Answers

racial details you need racial details

Consumer surplus exists because of the
A. surplus of money that wealthy consumers hold.

B. surplus in marginal product that firms get when they hire an additional worker.

C. willingness of some consumers to pay a price higher than the market price for some units of a good.

D. additional utility that households obtain when the prices of substitutes fall.

E. increase in the availability of goods when income rises.

Answers

Answer:

it exists because of the increase in the availability of goods when income rises

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