Joneffry is a new start up business offering gardening services. Jon needs to borrow £2400 to buy the equipment he needs to start the business such as lawn mowers and strimmer’s. Jon has been offered a loan with a 2-year repayment period and a monthly repayment of £116.00, totalling £2784 over the two years.
(a) Calculate the total interest Joneffry will pay for this loan as a percentage
of the total amount borrowed. You are advised to show your workings.
b) Outline one method Jon could use to reduce the initial outlay of money
on his new business. [2]
(c) Jon can only afford to pay £150 in interest per year.
Calculate the highest interest rate that Jon can afford to pay on a loan
of £2400. You are advised to show your workings.

Answers

Answer 1

a) The total interest Joneffry will pay for this loan as a percentage of the total amount borrowed is 16%.

b) To reduce the initial outlay of money on his new business, Joneffry could lease the equipment instead of outright purchase (making a monthly lease payment over more than two years).

c) If Jon can only pay £150 in interest per year, the highest interest rate that Jon can afford on a loan of £2400 is 6.25%.

How is the interest rate determined?

The interest rate is computed as the quotient of the division operation between the interest amount (numerator) and the loan amount (denominator).

This quotient is then multiplied by 100, to express the result in a percentage.

The interest rate represents the cost of borrowing because of associated risks and the time value of money.

Cost of equipment = £2,400

Mortgage period = 2 years (24 months)

Monthly payments = £116.00

Total payments = £2,784 (£116 x 24)

Total interest = £384 (£2,784 - £2,400)

Total interest as a percentage of amount borrowed = 16% (£384/£2,400 x 100)

The highest interest Jon can afford = £150

Interest rate = 6.25% (£150/£2,400 x 100)

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Related Questions

identify and explain one advantage and one disadvantage of BMW if economic growth is expected in Germany

Answers

Answer:

Down

Explanation:

Benefits of economic growth

benefits-growth

Increased consumption. Firstly, higher GDP implies the economy is producing more goods and services and therefore consumers can enjoy more goods and services. If human welfare is linked to consumption then growth will benefit society. Higher levels of consumption will help to reduce any incidence of absolute poverty (when people can’t meet basic necessities of life.) This may not be so obvious for developed countries, like the UK and US, but for developing economies, economic growth and rising incomes play a big role in lifting people out of poverty.

Higher investment in public services. With higher GDP the government will be able to collect more taxes; this is because people as incomes rise and people spend more they will pay more income tax and VAT. This is beneficial because the government can use this increased revenues to reduce the level of government borrowing and/or spend more on public services and investment in the country infrastructure. This investment in public services can help improve the long-term performance of the economy. For example, better infrastructure enables a lower cost of trade. Therefore, growth can cause a virtuous cycle of higher investment leading to higher growth – which enables more investment.

Lower unemployment. Higher economic growth will also lead to an increase in demand for labour as firms will be producing more. Therefore unemployment will fall, this has various advantages such as lower government spending on benefits and less social problems. If the economy is in recession, then increasing the rate of economic growth will be an important step in reducing unemployment.

D7G7 unemployment

The rise in unemployment in 2008/09 was due to negative economic growth.

what are the matters to be considered while studing market ? write in brief​

Answers

Answer:

The purpose of researching a market is to figure out how you can best attract those who are likely to buy your company's products or services. 

Financial information is presented below: Operating Expenses $50,000 Sales Returns & Allowances $13,000 Sales Discount $6,000 Sales $138,000 Cost of Goods Sold $57,000 Gross profit would be _______? (Note: Input your response as a whole number without using the "$" sign or commas (i.E. 25,000 should be entered as 25000).)

Answers

Answer:

the gross profit is 62000

Explanation:

The computation of the gross profit would be shown below:

Gross Profit = Net Sale - Cost of Goods Sold

= (Sales revenue - Sales discounts - Sales returns and allowances) - Cost of Goods Sold

= ($138,000 - $6,000  $13,000) - $57,000

= 62000

Hence, the gross profit is 62000

We simply applied the above formula so that the correct value could come

In your opinion, is the “shrink it and pink it” strategy an effective way to market sports apparel to women? Why or why not?

Answers

Answer:

Concept: Business Administration

By definition the shrink it and pink it is a method employed by marketing to create a curated color that appeals to the women eye and also retroactively fits their figure and stature.Arguably, the strategy is effective in principle as it attracts more women buyers that would have otherwise skipped over the said sport apparel. It curated a line of clothing that suits them and makes them feel included. The principle of inclusiveness is a driving factor in this strategy which inherently has increased the sales of women apparel.

Answer:

I don't think it's an effective strategy. It seems a little sexist to be completely honest. As someone who was raised by an extremely progressive mother, I think it's safe to say that women don't appreciate generalizations, much less made by the marketplace.

What basically compares what an individual owes compared with how much they earn monthly?
A. Home Equity Loan Ratio
B. Return on Investment
C. Debt to Income Ratio
D. Terms & Conditions

Answers

Answer:

C. Debt to Income Ratio

Explanation:

The debt to income ratio (DTI)provides a picture of the level of debts of a borrower. The DTI is usually expressed as a percentage of gross income. A high debt to income ratio indicates a person spends a high percentage of income on paying debts.

Lenders use the debt to income ratio to assess a borrower's ability to repay debts. Individuals with low DTI are preferred to those with a high one.

How much y’all think I’m worth?
Y’all think ima great dancer?
Who follows me

Answers

Answer:

What????..............

What is the most likely reason an HR manager would seek to adjust the
income for an American working abroad?
A. The employee will need higher pay to adjust to the new social
environment.
B. The cost of living in that country is different from that of the
employee's home.
C. The local norms in the new country are different regarding pay.
D. The laws in the new country allow older workers to be paid less.

Answers

Answer:

B. the cost of living in that country is different from that of the employee's home

Explanation:

Answer:

B

Explanation:

A p e x


An economic system that allows indivduals to pursue their own interests without undue
governmental restriction is known as what?
a. private enterprise
b. resources
c. auditory
d. stock market

Answers

Answer:

a. private enterprise

Explanation:

Economics systems can be categorized as;

Command or planned economic systemsMixed economiesMarket or free enterprise economies

The market or free enterprise economy is also the private enterprise economy. This economic system has the private sector as the primary producers of goods and services. The government does not interfere with economic activities.

In the private enterprise economy, private firms and individuals have the freedom to start and operate a business of their preferences. The government does not regulate the production, distribution, or prices of products. The private sector engages in business activities that will generate maximum profits for them.

Why is a self-assessment important?
the correct answer is you can use it to organize your interest and experience

Answers

Huh? Did you need help on it or not?

lents for Chefs on O*NET
Click this link to view O*NET's Education section for Chefs. According to O*NET, what are the three most common
levels of education Chefs hold? Check all that apply.
O associate degree
master's degree
high-school diploma or equivalent
less than high-school diploma
bachelor's degree
doctoral degree
Intro

Answers

According to the O'NETS education sector, the degrees that chefs need to have are:

associate degreehigh-school diploma or equivalentless than high-school diploma

Who is a chef?

A chef is a term that is used to refer to a cook that has been professionally trained on the ways to prepare several meals.

A chef is a person that is able to prepare different dishes and they are known to focus on one cuisine often times.

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Answer: The answer is 1 3 4

Explanation:

I got it right

During a presentation, a prospect says, "I like the product, but I won't buy
unless it comes with free delivery and installation." What would be the most
effective technique for answering this objection?
A. Try to meet the condition or find a way to make the deal agreeable
without it
B. Treat this objection as an unexpected and unnatural part of the
selling process
C. Try to improve the selling process
D. Provide the information that the prospect seems to be missing

Answers

Answer:

I believe the best and most correct answer is A.)

Explanation:

The most effective technique for answering this objection is Try to meet the condition or find a way to make the deal agreeable without it Option(A) is correct.

What is a Presentation?

A Presentation passes data from a speaker on to a crowd of people. Presentations are regularly showings, presentation, talk, or discourse intended to illuminate, convince, rouse, inspire, assemble altruism.

Presentations normally require arrangement, association, occasion arranging, composing, utilization of visual guides, managing pressure, and responding to questions. "The critical components of a presentation comprises of moderator, crowd, message, response and technique to convey discourse for hierarchical outcome in a compelling way.

Presentations are broadly utilized in tertiary work settings, for example, bookkeepers giving a point by point report of an organization's financials or a business person testing out their endeavor thought to financial backers.

Therefore Option(A) is correct.

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2. (02.03 LC) What is the role of the Securities and Exchange Commission? (10 points)
A: It adjusts the interest rates for loans.
B: It ensures all financial institutions follow banking laws. .
C: It protects up to $250,000 of customer deposits.
D: It regulates the business practices of stockbrokers.​

Answers

Answer:

D: It regulates the business practices of stockbrokers.​

Explanation:

The securities and exchange commission( SEC) is an independent state regulatory authority mandated to protect investors and promote fair and orderly practices in the securities market.  The Sec has published rules and regulation that has created investor confidence in the markets. The SEC rules apply to all firms and individuals in the securities markets, including brokerage firms, securities exchanges, dealers, investment banks, and investment funds.

Among other things, SEC regulations demand disclosure and sharing of financial and market-related information, fair trading, and guards against fraud.

Answer:

D: It regulates the business practices of stockbrokers.​

Explanation:

the Securities and Exchange Commission is tasked with protecting investors.

the government accountability office reports that sweatshops. are no longer a problem in this country, often employ undocumented workers and Childern, following all OSHA guidelines, none of the above​

Answers

Answer:

often employ undocumented workers and children

Explanation:

Sending a thank-you note to an interviewer is no longer expected.


True

False

Answers

Answer:

False

Explanation:

Answer:

your answer would be true

Explanation:

what are creative unique products example flying water bottle plz don’t give me actual already made products

Answers

creative products? let’s see maybe like moving or like robotic lamps?

When a salesperson says or does something that creates agency such as giving advice to a customer, giving an opinion to a customer, or negotiating on the customer's behalf the licensee has:

Answers

Answer:

implied agency

Explanation:

The implied agency refer to an agency that is established from the principal and agent conduct. It develops the agency relationship. It is a real agency and a fact to be proved

Therefore as per the given situation since it is mentioned that at the time when the salesperson said or do something that establish the agency so this represent the implied agency

Therefore the same is to be considered

What the person above me said

Explanation:

i just took the asignment.

ASAP! please and thank you!
A painter finishes the work he promised ahead of schedule and is paid for his services. This is an example of a(n) _____________ contract.
A. voidable
B. executory
C. express
D. executed
2. A major home improvement store sells home appliances but contracts with a plumbing and electrical company to provide installation for customers. This is an example of
A. commission
B. assignment
C. consignment
D. delegation
3. A large company contracts with Jon to do some technical writing for the company’s website. Jon promises to finish the writing by a certain date. This exemplifies which type of contract?
A. quasi–contract
B. unilateral contract
C. bilateral contract
D. unenforceable contract
4. Which of the following is NOT an element of a contract
A. Both parties must have contractual capacity.
B. Only one party must give something of value.
C. Both parties must be in agreement.
D. The contract must not break any laws.
5. Informal contracts are so named because
A. they are not fully enforceable.
B. they are not typically used.
C. informal language is used on the contract.
D. no special form is required for their creation.

Answers

The correct answers are given for the described scenarios below:

A painter finishes the work he promised ahead of schedule and is paid for his services. This is an example of:

Executed Contract

A major home improvement store sells home appliances but contracts with a plumbing and electrical company to provide installation for customers. This is an example of

D. Delegation

A large company contracts with Jon to do some technical writing for the company’s website. Jon promises to finish the writing by a certain date.

This exemplifies which type of contract?

C. bilateral contract

Which of the following is NOT an element of a contract

B. Only one party must give something of value.

Informal contracts are so named because:

A. They are not fully enforceable.

What is a Contract?

This refers to the legally binding agreement which is signed by two parties after the satisfaction of various clauses.

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Allison would like to find all records that are in stock. In her database, she has a field named "in stock." When the item is in stock, a "yes" appears. What should Allison do?


Conduct a query and set the criteria as =yes.

Conduct a query and set the criteria to >2.

Locate each record and check each one.

Sort the records in ascending order by item number.

Answers

Answer: she should conduct a query and set the criteria to >2

Explanation:

Don’t know this but I tried I am only in 9th grade

A new business is likely to need what bank service(s)? *

Answers

Answer:

Checking Account tell me if i'm wrong

Explanation:

Discuss three factors a company must consider when attempting to find an endorser for their products

Answers

Answer:- three factors a company must consider when attempting to find an endorser for their products is the endorsers reputation, popularity, health, and minimal injury history.

Explanation:

Hope I helped you

1. Which of the following is the term for the overall impression gathered from information
that is seen, heard and experienced by customers who encounter a business, its products
and services?
A. Brand promise
B. Positive feeling
C. Company culture
D. Company brand

Answers

The answer is D company brand

Company brand is the term for the overall impression gathered from information that is seen, heard and experienced by customers who encounter a business, its products and services. Hence, option D is correct.

What is a Company brand?

The brand of a firm serves as its identity and is one of the most valuable aspects of the enterprise. Consumers recognize brands, and rivals are wary of them. The marketing of a company's products must include strong company branding.

Despite the fact that brands are typically immaterial, we frequently connect them to things like products and names. Apple, Nike, Coca-Cola, Advil, and Tylenol are a few examples.

A firm is made up of workers who cooperate to accomplish a common objective. A brand, which is the personality of the company, is represented through specific aspects of the goods that a company makes. For instance, an apple may serve as the company's logo, mascot, and social media icon for an apple packaging company.

Thus, option D is correct.

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Once you graduate from a college or university, you have to pay a fee to take advantage of their career services. False True

Answers

Answer:

False

Explanation:

After graduating from a college or university you belong to their Alumni therefore, their career services or commonly known as placement or career center always support you through the journey until you land your job for no fee.

how does open book management benefit employees?

Answers

Answer: It helps your employees do their job better.

Explanation: Not only that but it will help all people who work there, know what the job is about and know the full meaning and whole of what it is. I hope this helps!

A region along a major shipping route is likely to have trade make up a large part of
its economy. This is an example of what type of factor? Choose the answer.

geographical

economical

agricultural

capital

Answers

Answer:

economical

Explanation:

A region along a major shipping route is likely to have trade make up a large part of its economy, is an example of geographical factor.

What is a trade?

Trade is the voluntary exchange of goods and services between different economic players. Since the parties are under no obligation to trade,  a transaction will only occur if both parties consider it beneficial to their interests.

In financial markets, trade refers to purchasing and selling securities, commodities or derivatives. It encourages investment in a country.

Free trade means international exchanges of products and services without obstruction by tariffs or other trade.

International trade results in increased efficiency and allows countries to benefit from foreign direct investment(FDI) by businesses in other countries.

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Who is the richest man in the world

Answers

Answer:

Jeff Bezos is the richest man in the world.

Who is Adam Smith and what is his belief about prices? Do you agree or disagree? Why?

Answers

Answer:

Adam smith is Abigail Smiths husband

Explanation:

They have been married for centies

With what kind of vocabulary should a person be familiar for reading the balance sheet of a restaurant easily?
A.
the names of all the items on the restaurant menu
B.
finance-related words such as depreciation, capital expenditure, etc.
C.
restaurant-related terms such as banquet, buffet, etc.
D.
marketing terms such as product lifestyle, customer lifetime value, etc.
E.
advertising terms, such as brainstorming, captions, etc.

Answers

Answer:

Explanation:

For all Plato users.

Finance-related words such as depreciation, capital expenditure, etc. kind of vocabulary should a person be familiar for reading the balance sheet of a restaurant easily. Thus, option (a) is correct.

What is a balance sheet?

A balance sheet is a financial statement that lists an organization's assets, liabilities, and shareholder equity. One of the three important financial statements a company's evaluation will focus on is the balance sheet. It was the obligations using its current assets.

The terms depreciation, capital outlay, liabilities, assets as well as equity, and revenue should all be understood by someone who works in finance. A person can comprehend the data in a restaurant's balance sheet and make decisions about the restaurant's financial health with the aid of these finance-related terms if they are familiar with them.

As a result, the significance of the kind of vocabulary should a person be familiar for reading the balance sheet of a restaurant easily are the aforementioned.

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Mohamed is starting a new business. Before selling anything, he bought a motor van for $3500, a
market stall for $2000 and inventories for $1100. He did not pay in full for his inventories and still
owes $1000 for them. He borrowed $4000 from Ibrahim. After the above, he has $400 cash in hand
and $1000 cash at bank. Calculate the amount of his Capital.​

Answers

Answer:

$3,500

Explanation:

Leron is in high school and is interested in the Logistician career. Which accurately lists the most likely pathway that Leron will take? certification high school diploma O high school diploma O high school diploma O high school diploma associate's degree licensure bachelor's degree master's degree - internship​

Answers

Answer:

b

Explanation:

I got a 100 on the test

the type of ownership in which each restaurant is the same in the ownership of each restaurant is the same as known as which of the following?
A. food service cooperation
B. Food service franchise
C. Independent food service operation
D. Food service chain​

Answers

Answer:

D. Food service chain​

Explanation:

In business ownership, a chain of restaurants refers to several restaurants owned by one organization. In other words, in a food service chain, the owner(s) will have many branches located in different locations. Because the restaurant belongs to one entity, they are similar in appearance and operations.

A chain of business is different from a franchise business. In a franchise, the branches are identical but have different owners.

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Chimps can use sign language to talk to their trainers. Monkeys can learn to count. A crow can figure out how to use a stick to get at that hard-to-reach grub. Chickens can learn to play checkers. Even worms can be taught to run mazes. So which animal is the smartest? You're probably thinking that chimps are smarter than chickens. And that crows are smarter than worms. And that youre smarter than all of them.Which statement best explains how the passage supports the author's purpose?A. The purpose is to instruct; it provides many supporting details about the abilities of chimps.B.The purpose is to entertain; it uses a humourous tone.C. The purpose is to persuade; it is trying to convince you that humans are the smartest animal of all.D.The purpose is to inform; it asks a question that will be answered by the text. PLSSS HELP THANK U AND Ill mark brainly and u get points Describe the relationship between God and the bailiff in the story. How is this relationship significant to be story's plot? Cite specific evidence from the text in your response. What type of climate does Mississippi have? arid subtropical temperate tropical Gene regulation in eukaryotes islesscomplex than in prokaryotestrue or false Which region of Brazil has the lowest GDP per capita, and what is its GDP? I was supposed to do this last week but forgot, it's an art ptoject. I rushed through it this morning and need to know if I should turn it in or not. Also need feed back on things I should change.... The project is called "whats in your head" so I am supposed to draw me then add whatever im thinking in a pic, I covered that part i just need to know ab the person. THX! :P I need helpppp pleaseee :( What is the mass of 4.50 moles of magnesium chloride, MgCl2? Identify three tasks commonly performed by griots in west African society Why is it important to learn about the culture while learning a language Which of these is a reason why a company may want to recruit internally? A Better chance of fresh ideas o B. Broader experience within the industry c. Familiarity with the company mission D. Saving money on salaries Lymph is a clear, watery fluid containing and proteins. A. waste B. electrolytes C. fat I think this one will be easier for you guys Which sentence is in the past tense?A) Teddy Roosevelt, Jr., the son of president and conservationist Theodore Roosevelt, is thought to be the first person ever to shoot a panda.B) Pandas dont like other pandas and prefer to be alone.C) Pandas may go extinct because of habitat loss.D) A bone in the wrist of pandas evolved into an extra thumb. Helpp picture above I will mark "Mom, have you seen my hat?" Derrick asked as he fumbled around his room. Picking up a sombrero, Mom replied, "You mean this one?" "No, Mom, my baseball cap." "Well, you should wear this hat. It will protect you from the Sun better." "Nah, I like my baseball cap more," Derrick answered. "I don't get it," Mom said. "You begged and pleaded for this sombrero when we were on vacation in Santa Fe. I tried to talk you out of it because I knew you'd never wear it. You promised that you would. I paid $30, and you haven't worn it once." "But, Mom . . ." "Don't 'But Mom' me, Mister. Here's the deal. You will earn the money to pay me back, or you will wear this sombrero out somewhere at least once within the next week. You've got to think about the effects of wasting money. If I have buyer's remorse over that hat, you should too. You need to fully consider whether or not you'll use what you ask for. Which choice will it be?" "Raising $30 will take forever," Derrick said and sighed. "Okay, I'll wear the hat, Mom, but I'll look silly compared to everyone else. None of the other kids wear sombreros." As the days passed, Derrick wasn't sure where he could wear his hat without looking out of place. School was out of the question. Baseball practice was out, too. Derrick didn't even want to consider wearing it to church. At the end of the week, Mom asked Derrick, "You want to grab some Mexican food from Amigos?" Derrick bolted to his room and grabbed his sombrero. When he returned, Mom added, "You'll probably still be the only one in a sombrero." "I know, but Amigos is still the best possible place to wear it," said Derrick. "Thanks, Mom." theme Help me find mariah025 please please help me and ill mark brainlist also explain Alyssa is opening a bicycle shop, and her monthly expenditures to get the shop up and running exceed her monthly income. Alyssa is best described as Given h(x) = 5x + 2, find h(-6).