what is AJEs? T1 Feb 1   You invest $10,000 into your brand new company, Just for Kicks.                                                 T2 Feb 1   You obtain a bank loan of $20,000 at a rate of 8% per year.                                                 T3 Feb 2   You purchase 50 pairs of shoes from Sloan's Shoes. Total cost is $2,500 terms 2/10, net 30.                                                 T4 Feb 3   Go to Staples to buy a desk, chair, and filing cabinet etc for a total of $1,100.                                                 T5 Feb 3   When at Staples you also purchase $500 worth of packing and office supplies.                                                 T6 Feb 4   You pay $400 for the first month of Shopify's Advanced Features.                                                 T7 Feb 6   With the website set up, you make your first sales - 10 pairs of shoes at an average price of $120 each.                                                 T8 Feb 6   You go to the post office and ship the 10 pairs of shoes for a cost of $11 per pair. You pay with a business cheque.                                                 T9 Feb 8   A friend comes to your place and buys shoes directly from you. He says he'll pay you the $100 next week.                                                 T10 Feb 13   In the last week, you sold 38 pairs of shoes at an average price of $120 each.                                                 T11 Feb 14   You're low on inventory and buy another 80 pairs from Sloan's Shoes. You pay with a business cheque.                                                 T12 Feb 14   While you're there, you pay Sloan's shoes the full amount owing from Feb 2.                                                 T13 Feb 14   On the way back from Sloan's Shoes, you buy yourself a $15 lunch using cash from the business.                                                 T14 Feb 20   One of your customers emails to say they want to return the shoes - he was able to buy them elsewhere for less.                           You decide to allow the return but he must cover the cost of shipping them back to you. You receive                           the shoes the next day and process the full refund of $120.                                                 T15 Feb 25   You learn that Shopify's service allows you to sell gift certificates. You do some promotion                           and within a few hours have sold $500 worth of gift cards.                                                 T16 Feb 26   In the last few weeks you've sold 60 pairs of shoes for the average price of $120. Gift cards totalling $150 were used.                                                 T17 Feb 28   With so much cash on hand, you decide to make a $15,000 payment on the principal of your bank loan.

ASAP PLZ ! You want to purchase a home for $747,555 in South Calgary. Your mortgage officer at BMO has informed you that the rate on mortgages is 2.50% compounded quarterly. You are a prudent saver and currently have $124,399 in your savings accounts. After legal and closing fees, you have $113,399 available for a down payment. The rest you must borrow from the bank. You believe that a thirty-five year amortization period will make the payments manageable. What are the monthly payments to meet the terms of the mortgage? (Hint don't lose decimals on the interest rate). $4,282.83 $2,670.39 $2,265.31 $2,838.71

Assume you just bought a new car and now have a car loan to repay. The amount of the principal is $25,000, the loan is at 8.5% APR, and the monthly payments are spread out over 7 years. What is the loan payment? $297.70 $331.14 $395.91 $363.57 $305.56

Use the following to answer questions 31 – 33 You want a new car. At the dealership, you find a car that you like. The dealership gives you two payment options: 1. Pay $23,000 in cash for the car today...OR Pay $370.41 at the end of each month for six years at 5% (0.41667% monthly for 72n). 2. How much CASH (in total) up paying if you choose to make monthly 31. $ will you end payments for the car? 32. How much interest (in total) $ will you pay if you choose to make payments instead of paying cash for the car today? 33. $ How much interest has accrued by the time the first car payment is due (round to two decimal places)?

The local electronics store is offering a promotion "1-year: same as cash," meaning that you can buy a TV now, and wait a year to pay (with no interest). So, if you take home a $1,200 TV today, you will owe them $1,200 in one year. If your bank is offering 4% interest, what is the true cost of the TV to you today? The true cost of the TV to you today is $ (Round to the nearest cent.)

Lesson 14: Business and Consumer Loans A. Answer the following problem; use the answer sheet to show your solution. 1. Mark, an Engineering student needed a computer for his Auto Cad lessons. He purchased a laptop which costs P39,000.00. His credit card charges 1.75% compound interest per month to be paid in 18 months. How much is his monthly payment? How much total interest will he pay?

To buy some furniture, Asmaa can put $150 down and "don't pay a cent" for 6 months. At the end of 6 months, she begins making monthly payments of $100 for 2-years. If j12 = 8.4%, what is the equivalent cash price of the furniture? Do not give excel answer, need well explained