assess how you would apply the requirements for possibility of
performance
Answers
The requirements for the possibility of performance are important considerations when entering into a contractual agreement. These requirements ensure that both parties have the ability to fulfill their obligations under the contract.
Here are the key requirements and how they can be applied:
1. Legal capacity: Each party involved in the contract must have the legal capacity to enter into a contract. This means they must be of legal age, mentally competent, and not under any legal disabilities. Before entering into a contract, it is essential to verify the legal capacity of the parties involved to ensure they have the ability to perform their obligations.
2. Financial capacity: Both parties should have the financial resources or access to resources necessary to fulfill their obligations under the contract. This can be assessed by reviewing their financial statements, creditworthiness, or other relevant financial information. It is crucial to evaluate the financial capacity of each party to determine if they have the means to perform as required.
3. Physical ability: If the contract involves physical performance, such as the delivery of goods or provision of services, the parties must have the physical ability or resources to carry out the required tasks. For example, if a contract involves the transportation of goods, both parties need to have the necessary vehicles, equipment, or facilities to fulfill their obligations.
4. Legal requirements: The performance of a contract must comply with all applicable legal requirements, such as licenses, permits, or regulatory standards. It is essential to ensure that both parties have the necessary legal approvals or permits to perform the contractual obligations.
5. Absence of legal barriers: The performance of the contract should not be hindered by any legal barriers or restrictions. For example, if there are legal restrictions on the export or import of certain goods, it may prevent the parties from fulfilling their obligations. It is crucial to assess any potential legal barriers that may impede performance.
When applying these requirements, it is important to conduct due diligence and gather relevant information about the parties involved. This may include conducting background checks, reviewing financial records, verifying licenses or permits, and assessing any potential legal barriers. By thoroughly evaluating these requirements, you can ensure that the possibility of performance is feasible and minimize the risks associated with entering into a contract with parties who may not have the capacity to fulfill their obligations.
It is worth noting that the specific requirements for possibility of performance may vary depending on the nature of the contract and the applicable legal jurisdiction. Therefore, it is advisable to seek legal advice or consult relevant laws and regulations to ensure compliance and to tailor the assessment process accordingly.
Learn more about contractual agreement here:
https://brainly.com/question/30835862
#SPJ11
Related Questions
why can herbal industry florish in nepal? give reason
Answers
The herbal industry in Nepal can flourish because of the widespread availability of medicinal herbs, plants, and shrubs endemic to the country's terrain.
Other reasons-Additionally, the traditional system of medicine that has been practiced in Nepal for centuries provides an established market for medicinal plants. Furthermore, Nepal is located in a region known for its abundance of biodiversity, providing many natural resources which can be used for the expansion of this industry.
Herbs, usually found at altitudes above 3,000 meters, are thought to be rich in natural chemicals. “Because there is no mechanism to label and provide specifications, the country loses huge revenue potential every year,” Bhandari said, adding that the turmeric found in Nepal could be used as a food product if attention is paid to packaging and marketing, added that it can also secure a good market in Europe.
To know more about Nepal and herbal industry-
https://brainly.com/question/27137295
#SPJ1
PLEASE HELP!! 20 POINTS!!!
Answers
The four steps that an accountant needs to follow when making an adjustment entry, in order are:
Determine the accurate account balances Check for the original journal entry Pass the necessary journal entries for the difference Calculate the difference between the correct and original account balances How to make an adjustment entry?In order to make an adjustment entry, the first thing to do is to check for the accurate balances of the account and then also check for the original entry made in the journal.
If the accurate balance and the original balance are not the same, then calculate the difference and make and adjustment.
Find out more on adjustment entries at https://brainly.com/question/13933471
#SPJ1
what could you do to avoid a miscommunication with a friend
Answers
The amount of surface area on an uncored block that has holes extending through it is equal to less than ________.
Answers
Who seeks out information about products a seller has to offer
Answers
Answer:
the owner of the product or the boss
everyone here is a pleb
Answers
Step by step explanation:
Answer:
no no no no no no no no no no no
Review the statements below to determine the correct definition of a credit memorandum.
A. The bank notifies the depositor of each deduction to the account with a credit memorandum.
B. The bank notifies the depositor of each increase to the account with a credit memorandum.
C. Whenever the balance in the account becomes overdrawn, the bank issues a credit memorandum.
D. Whenever a check is drawn against the account, the bank issues a credit memorandum.
Answers
Answer:
Review the statements below to determine the correct definition of a credit memorandum.
A. The bank notifies the depositor of each deduction to the account with a credit memorandum.
xXxAnimexXx
Happy Labor day!
Many homeowners and businesses are installing solar electric systems. Greater use of solar electric systems benefits the environment because it A depends on the greater use of fossil fuels B conserves nonrenewable resources C produces gases that cause global warming D reduces the need for the ozone shield
Answers
This institution has historically served as the principal vehicle through which the money supply of the United States is expanded or contracted. This practice continues today.
Answers
Answer:
Commercial Bank
Explanation:
Commercial banks are the institutions that deal with the finances. They provide loans, and accepts deposits as savings. These financial institutions are a means of financial assistance to the public. Financial services and assistance helps in the growth and establishment of the economy. The process of commercial banking is intended towards growth and the earning of profit altogether.
Vineyard vines recently partnered with first insight to utilize online social engagement tools to gather sentiment analysis and real-time data from its customers. Using the information gathered, vineyard vines will be able to quickly make product and pricing decisions, which will allow it to improve sales and margins online and in brick-and-mortar locations. This is an example of _______.
Answers
This is an example of customer value.
First insight is the arena’s main provider of solutions that empower shops and types to include the voice of the consumer into the layout and vending of new merchandise. Thru using online client engagement, the primary perception solution gathers real-time customer facts and applies predictive analytic models to create actionable insights, which power measurable price. Outlets, manufacturers and types use the first perception way to layout, choose, charge and marketplace the most profitable new merchandise for decreased markdown charges and improved income, margins and stock turnover. Clients include some of world’s leading vertically incorporated brands, carrying goods corporations, department stores, mass service provider shops and wholesalers.
Vineyard vines®, a emblem pleasant recognized for its smiling pink whale logo, became founded in 1998 on Martha's winery while brothers Shep and Ian Murray reduce their ties with corporate America to begin making ties that represented the good life. Similarly to signature neckwear, vineyard vines gives an expansion of clothing and add-ons for men, ladies and youngsters. Merchandise are sold in over 600 specialty and branch stores global.
Learn more about customer value here:- https://brainly.com/question/28021051
#SPJ4
Macroeconomics is the branch of economics that focuses on:
A. comparing the lifestyles of poor and wealthy citizens.
B. economic principles affecting entire countries.
C. helping people find jobs when they're unemployed.
D. financial problems affecting individual families.
Answers
Answer:
B. economic principles affecting entire countries.
Explanation:
Macroeconomics is the part of economic studies that studies the economy of a country as a whole. In this branch of economics, the aggregate income, growth, expenditure and inflation are considered. The performance of the entire economy is measured under macroeconomics. National income, Gross domestic product, inflation and unemployment fall under the macroeconomic studies.
Answer:
economic principles affecting entire countries
Explanation:
i took the test
Chin needs more money in his net pay each month so he plans to reduce his federal income tax deduction from 12% to only 11% his monthly gross pay is $3500 in his deductions before they change a list in the table what will be his new monthly net pay round your answer to the nearest dollar
Answers
Answer:
$2891
From online search: The table and multiple-choice answers to this questions are as below
The table
Deduction Dollar Amount
Federal Income Tax $420
State Income Tax $95
Social Security $89
Medicare $40
multiple-choice answers
$2821
$2857
$2860
$2891
Explanation:
Chin wants to reduce the federal income tax deduction from 12% to only 11% .
The new federal income tax will be
=11% of $3500
=11/100 x 3500
=0.11 x 3500
=385.
Total deductions will be as follows
Federal Income Tax $385
State Income Tax $95
Social Security $89
Medicare $40
Total= $609
The new net income
= $3500 - $609
=$2,891
Answer:
so D thx
Explanation:
g
Question 4
Sally purchased a Ford Fusion for $25,000 in 2018. Today, Sally sold the car to Darien for
$18,000. How does this affect the CURRENT GDP?
Answers
Answer:
It doesn't affect it because it's a used good
Explanation:
Used goods ARE NOT counted. Goods are only counted in GDP during the year when they were produced, and/or the first time they are sold.
The selling of the used car by Sally will not have any effect on the GDP because such transaction has already been accounted earlier during the time of production and selling. Hence, no changes in GDP.
Why used goods are not included in GDP?Expenditure on used goods isn't always a part of GDP due to the fact those items had been a part of GDP withinside the duration wherein they had been produced and all through which time they had been new items.
Counting the sale of used items might be double-counting and might distort the authentic degree of manufacturing for a given duration.
Hence, no changes in GDP as the selling of the used car by Sally has already been accounted earlier.
Learn more about GDP:
https://brainly.com/question/1152672
#SPJ1
Write a retirement plan which includes your age of retirement, the job you will have and income you earn, the amount of Social Security you can expect on retirement considering the age of retirement, as well as the retirement contributions you and your company make over the course of your career. Include all calculations used to formulate your response.
Answers
Answer:
I can provide an example retirement plan based on hypothetical values.
Retirement Plan Example:Age of Retirement: 65 years oldJob: Financial AnalystIncome: $100,000 per yearExpected Social Security Benefit at Retirement: $2,000 per month (based on current Social Security Administration estimates for someone retiring at age 65 with a $100,000 income)
Retirement Contributions:- Employee Contribution: 10% of salary- Employer Contribution: 5% of salaryAssumptions:- Retirement contributions are invested in a tax-advantaged retirement account with an average annual return of 7%.- Salary increases by 3% per year.- Inflation rate is 2% per year.Calculations:1. Calculate retirement contributions over the course of a 30-year career:
- Total employee contributions over 30 years = 10% x $100,000 x 30 years = $300,000- Total employer contributions over 30 years = 5% x $100,000 x 30 years = $150,000- Total retirement contributions over 30 years = $300,000 + $150,000 = $450,0002. Calculate retirement savings at age 65:
- Retirement savings at age 65 = $450,000 x (1 + 0.07)^30 = $2,550,050 (including investment returns)3. Calculate retirement income:
- Expected Social Security Benefit at Retirement = $2,000 per month = $24,000 per year- Retirement savings at age 65 = $2,550,050- Total retirement income = $24,000 + $2,550,050 = $2,574,0504. Adjust for inflation:
- To adjust for inflation, we can assume a 2% annual increase in retirement income.- Adjusted retirement income at age 65 = $2,574,050 / (1 + 0.02)^30 = $1,287,689 (in today's dollars)In summary, with a retirement plan that includes employee and employer contributions, expected Social Security benefits, and investment returns, someone retiring at age 65 with a $100,000 income could expect to have a retirement income of around $1.3 million (in today's dollars) based on these assumptions. However, it is important to note that retirement planning is a complex process and involves many variables, such as investment risk, taxes, and healthcare costs. It is recommended to seek professional financial advice when creating a retirement plan.
How can public health decrease the economic impact on health care?
Answers
Answer:
First, healthier people are more economically productive. Better health also leads to an increase in savings rates—because healthier people expect to live longer and are naturally more concerned with their future financial needs. Another bridge between health and the economy is education.
Explanation:
what is the difference between internal and external growth? Please explain?
Answers
Chiko bought 75 shares of stock at $19.58 per share. She received total dividends of $73.42 during the year. At the end of the year, her stock was valued at $22.14 per share. Her ROI was %. (Round percentages to one decimal place.)
Answers
Answer:
The answer is "$ 1,468.50".
Explanation:
Price of share\(=\$ 19.58\)
Total Stock \(=75\)
\(\text{Purchase price= Price per share} \times \text{number of shares}\)
\(= \$ 19.58 \times 75 \\\\= \$ 1,468.50\)
Answer:
Answer:
The answer is "$ 1,468.50".
Explanation:
Price of share
Total Stock
Explanation:
Which of the following statements concerning a monopolistically competitive industry is correct? Multiple Choice If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right. If there are short-run economic profits, firms will enter the industry and the demand curves of existing firms will shift to the right. If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the left. If there are short-run economic profits, firms will leave the industry and the demand curves of the remaining firms will shift to the right.
Answers
Answer:
If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right.
Explanation:
Monopolistic competition can be defined as an imperfect competition where many producers or organizations sell differentiated products that are not perfect substitutes. Examples of firms or organizations engaging in a monopolistic competition are restaurants, shoes, clothing lines etc.
Generally, a monopolistic competitive market is characterized by the presence of large numbers of firm (producers) and a very low entry barrier.
Hence, in a monopolistic competition, firms have a degree of control over price, make independent decisions and can freely enter or exit the market in the long-run. Therefore, these firms combine elements of both monopoly and competition.
When a monopolistically competitive firm is in long-run equilibrium marginal revenue is equal to marginal cost (MR = MC) . This ultimately implies that in the long-run, firms engaging in monopolistic competitive market are often going to manufacture the quantity of goods where the marginal cost (MC) curve intersect with the marginal revenue (MR). Also, the price set would be greater than the minimum average total cost (ATC).
Thus, a monopolistic competitive producer has a highly elastic demand curve and firms would eventually break even in the long-run.
Hence, the true or correct statement concerning a monopolistically competitive industry is that, if there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right i.e there would be an increase in the demand for their products.
Navel County Choppers, Inc., is experiencing rapid growth. The company expects dividends to grow at 19 percent per year for the next 8 years before leveling off at 5 percent into perpetuity. The required return on the company’s stock is 10 percent. If the dividend per share just paid was $1.52, what is the stock price?
Answers
Answer:
Price of stock = $74.636
Explanation:
The Dividend Valuation Model is a technique used to value the worth of an asset. According to this model, the worth of an asset is the sum of the present values of its future cash flows discounted at the required rate of return.
The price of the stock will the sum of the present value of the growing annuity and the growing perpetuity
Present value of dividend from year 1 to 8
The PV of the growing annuity = A/r-g) ( 1- (1+g)/(1+r)^n )
A- dividend payable now , r- required of return, g-growth rate, number of years
PV = 1.52×(1.19)/(0.1-0.19) × (1 -(1.19/1.1)^8)= 17.605
PV of Dividend from year 9 and beyond:
P = D× g/(r-g)
This will be done in two steps:
Step 1: PV(in year 8)of dividend = (1.52× 1.19^8× 1.05)/(0.1-0.05)= 122.250
Step 2 : PV in year 0 = 122.25× 1.1^(-8)= 57.030
Price of stock = 17.60 + 57.030= 74.63
Price of stock = $74.636
Claire is planning annual end of year withdrawals from her tax-free account after retirement for 35 years. She has Principal of $755,000, Investment return is 6%, Initial withdrawal $40,000 and annual increase of withdrawal $1,000. Show the work if Claire is possible to continue withdrawing for 35 years? In order for her to do that, what does she have to do?( show excel function & cell reference)
Answers
To determine if Claire can continue withdrawing from her tax-free account for 35 years, we can calculate the balance of her account each year and check if it remains positive.
To calculate the balance, we'll need to consider the principal, investment return, initial withdrawal, and annual increase in withdrawal.
Here's the step-by-step calculation using an Excel formula:
1. In cell A1, enter "Year" to label the column.
2. In cell B1, enter "Withdrawal" to label the column.
3. In cell C1, enter "Balance" to label the column.
4. In cell A2, enter "1" to represent the first year.
5. In cell B2, enter "=IF(A2=1, $40,000, B1+1000)" to calculate the annual withdrawal amount. This formula checks if it's the first year, and if so, uses the initial withdrawal amount of $40,000. Otherwise, it adds $1,000 to the previous year's withdrawal amount.
6. In cell C2, enter "=IF(A2=1, $755,000*(1+6%)-B2, C1*(1+6%)-B2)" to calculate the balance. This formula checks if it's the first year, and if so, calculates the starting balance by multiplying the principal ($755,000) by the investment return (6%) and subtracting the first year's withdrawal amount. Otherwise, it calculates the balance by multiplying the previous year's balance by the investment return and subtracting the current year's withdrawal amount.
7. Drag the formulas in cells A2:C2 down to cells A36:C36 to calculate the balances for each year.
By checking the balance for each year, we can see if it remains positive. If the balance is positive after 35 years, Claire can continue withdrawing.
To do that, Claire needs to ensure that the annual withdrawal, along with the investment return, does not deplete the account balance over time. If the balance becomes negative at any point, Claire would need to adjust the withdrawal amount or the investment strategy to ensure the account lasts for 35 years.
Learn more about principal from here;
https://brainly.com/question/30026819
#SPJ11
Which of the following is true when lambda equals 0.95?Select one:a. The weight given to the most recent observation is 0.95b. The weight given to the observation one day ago is 95% of the weight given to the observation two days agoc. The weights given to observations add up to 0.95d. The weights given to the observation two days ago is 95% of the weight given to the observation one day agoe. None of the above
Answers
The correct answer is b. The weight given to the observation one day ago is 95% of the weight given to the observation two days ago.
When lambda equals 0.95 in an exponential smoothing forecast model, it means that the weight given to the most recent observation is 0.95, and the weight given to the observation one time period ago is 95% of the weight given to the observation two time periods ago. This is because exponential smoothing assigns decreasing weights to past observations as they become more distant in time. The weight assigned to each observation is based on the value of lambda and its relationship to the weights of previous observations.
Option a is incorrect because lambda does not directly represent the weight given to the most recent observation.
Option c is incorrect because lambda does not directly represent the sum of the weights given to observations
Option d is incorrect because lambda does not directly represent the relationship between the weights of observations one day ago and two days ago.
Therefore, the correct answer is b. The weight given to the observation one day ago is 95% of the weight given to the observation two days ago.
To learn more about observation
https://brainly.com/question/31517651
#SPJ11
As a general concept, ...... involves influencing others to take the actions required to achieve a goal.
a. management
b. leadership
Answers
b. leadership: Influencing others towards achieving goals.
Leadership involves influencing others to take the actions necessary to achieve a specific goal. It encompasses the ability to inspire and motivate individuals or a team toward a common objective. Leaders provide guidance, direction, and support, fostering an environment where individuals feel empowered to contribute and excel.
Effective leadership encompasses various skills, such as communication, decision-making, problem-solving, and interpersonal skills. Through their influence and example, leaders inspire and guide others toward the achievement of organizational or team goals. So the correct option is A.
For more questions like Leadership click the link below:
https://brainly.com/question/31138185
#SPJ11
What can a boosted post help an advertiser achieve?
Answers
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
Learn more about Communication at:
brainly.com/question/25645043
#SPJ4
A person performs a cost-benefit analysis in order to:
A. calculate the expenses of multiple businesses competing in the
same market.
B. evaluate the possible positive and negative effects of different
economic decisions.
C. analyze economic data to reach general conclusions about a
country's economy.
D. determine the tax rates a business will pay depending on its
profits in a year.
o
Answers
Answer:
B. evaluate the possible positive and negative effects of different economic decisions.
Explanation:
Cost-benefit analysis (CBA) is used to examine and compare the cost associated with a project or task and the benefits derived from it.
Simply stated, cost-benefit analysis is a form of utilitarianism commonly used by individuals, business firms and government in the decision-making process, as all the cost incurred are determined and analyzed.
This ultimately implies that, it may be used to determine how changes in differing levels of activities such as costs and volume affect a company's operating income and net income.
Cost-benefit analysis (CBA) sums the total cost associated with a project (activity) and compares this cost against the total benefits that would be generated. Thus, it helps in the decision-making process by comparing the net present value (NPV) of the cost of a particular project with the net present value (NPV) of its benefits.
Hence, a person performs a cost-benefit analysis in order to help him or her evaluate the possible positive and negative effects of different economic decisions with respect to an investment, project, activity, or programme.
an ethical obligation that provides a major link between ethics and self-care is:
Answers
The ethical obligation that provides a major link between ethics and self-care is the principle of non-maleficence, which is the duty to do no harm.
What is an ethical obligation?
An ethical obligation is a moral requirement to follow a certain course of action, that is, to do, or refrain from doing, certain things.
This principle highlights the importance of taking care of oneself in order to avoid harm or negative consequences to others, whether it be in a personal or professional setting.
In order to provide ethical and effective care to others, it is essential to prioritize self-care and maintain one's own well-being.
However, three basic ethical principles are outlined in The Belmont Report to serve as a guide for research involving human subjects. These are respect for persons, beneficence, and justice.
Read more about Ethical obligations at https://brainly.com/question/25891637
#SPJ11
chico company borrowed $40,000 on a four-year, 8% installment note. how will chico record the issuance of this note? group of answer choices account title debit credit cash 43,200 notes payable 43,200 account title debit credit cash 40,000 notes payable 40,000 account title debit credit cash 36,800 discount on notes payable 3,200 notes payable 40,000 account title debit credit cash 40,000 interest payable 3,200 notes payable 36,800
Answers
Chico Company will record the issuance of the 4-year, 8% installment note using the following journal entry:
Account Title Debit Credit
Cash 40,000
Notes Payable 40,000
When Chico Company borrows $40,000 on a four-year, 8% installment note, they will record the issuance of this note by debiting the account title "cash" for $40,000 and crediting the account title "notes payable" for $40,000. This is because cash is increasing with the receipt of the loan, and notes payable is increasing because Chico Company is obligated to pay back the loan. Therefore, the correct answer is account title debit credit cash 40,000 notes payable 40,000.
In this case, Chico Company is borrowing $40,000, so they will record a debit to the Cash account for the amount received. Simultaneously, they will record a credit to Notes Payable for the same amount, as this represents the liability Chico Company owes to the lender. The interest rate and installment period do not affect the initial journal entry for the note issuance. The interest expense and payments will be recorded separately over the term of the loan.
Learn more about Notes Payable: https://brainly.com/question/28434539
#SPJ11
Microsoft charges a price of $599 for a copy of windows 7. Is this pricing decision rational?.
Answers
According to the Question,
When we assume the managers at Microsoft have used all available information and weighed all known benefits and costs, we are assuming rationality.The antithesis of intuitive decision-making is rational decision-making. It follows a precise process that makes use of logic and objective information.
It entails recognising the issue that has to be resolved, collecting data, locating choices and outcomes, analysing them, taking into account all the connections, and making a decision.
Using the rational decision-making Steps in the workplace:Describe the issue.Determine the selection criteria.Assign the requisite weights.Make a list of possibilities and rank them.To Learn more about Rational Decision Making, Click the links.
https://brainly.com/question/14409615
https://brainly.com/question/14285240
#SPJ4
Why are the incoming mails registered in the office? Give reasons,
Answers
Answer:
because they send the mail to you as it enter the mail or mailbox is a delivery
A 3rd degree burn has burnt only part of the epidermis. the epidermis only. the epidermis and dermis. the epidermis and part of the dermis.
Answers
A 3rd degree burn has burnt the epidermis and part of the dermis. Option 3 is the correct answer.
A 3rd degree burn is a severe burn that extends through the entire thickness of the skin. In a 3rd degree burn, the epidermis, which is the outermost layer of the skin, and part of the dermis, which is the layer beneath the epidermis, are affected. This type of burn destroys the full thickness of the epidermis and can extend into the deeper layers of the dermis.
The epidermis serves as a protective barrier for the body, preventing the entry of harmful substances and pathogens. It also helps regulate body temperature and plays a role in the production of vitamin D. The dermis provides structural support, contains blood vessels, nerve endings, sweat glands, and hair follicles.
Due to the severity of the injury, 3rd degree burns often require medical intervention and specialized treatment. They can result in extensive tissue damage, loss of sensation, and impaired healing. Treatment may involve surgical interventions, such as skin grafting, to promote healing and minimize the risk of infection. Rehabilitation and long-term care are often necessary to manage the physical and psychological effects of a 3rd degree burn.
Hence, option 3 is the right choice.
To know more about epidermis , visit https://brainly.com/question/13450121
#SPJ11
A credit union entered a lease contract valued at $6200.The contract provides for payments at the end of each quarter for 3 years. If interest is 6.5% compounded quarterly, what is the size of the quarterly payment?
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Answers
the size of the quarterly payment in the lease contract is approximately $594.15.
To find the size of the quarterly payment in the lease contract, we can use the formula for the present value of an ordinary annuity:
\(PV = PMT * [(1 - (1 + r)^(-n)) / r]\)
Where:
PV is the present value of the lease contract
PMT is the quarterly payment
r is the interest rate per period (quarter)
n is the total number of periods
In this case, the present value of the lease contract (PV) is $6200, the interest rate (r) is 6.5% (0.065) compounded quarterly, and the total number of periods (n) is 3 years, which is equivalent to 12 quarters.
Plugging in the values, we have:
$6200 = PMT * [(1 - (1 + 0.065)^(-12)) / 0.065]
Simplifying the equation and solving for PMT:
PMT = $6200 / [(1 - (1.065)^(-12)) / 0.065]
PMT ≈ $594.15
Therefore, the size of the quarterly payment in the lease contract is approximately $594.15.
learn more about payment here:
https://brainly.com/question/32320091
#SPJ11