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shtirl [24]
2 years ago
11

Ann Hopkins borrowed $60,000 for her child’s education. She must repay the loan at the end of 8 years in one payment with 512% i

nterest. What is the maturity value Ann must repay?
Business
1 answer:
mart [117]2 years ago
7 0

The Maturity Value that Ann must pay is $89,461.

Assuming the rate of interest is compounded annually.

Given,

Principal value = $60,000 = P

Rate of interest = 5.12% = i

Number of years = 8 = T

Since maturity value = Amount

Now, using the formula for calculating the amount,

Amount = P × {(1+i)^T}

Now, substituting the given values in the above formula for amount we get,

Amount = $60,000 × {(1+0.0512)^8}

             = $60,000 × {(1.0512)^8}

             = $60,000 × 1.49101776418

             = $89,461.0658

             = $89,461 (Approximately)

Hence, The Maturity Value that Ann must pay is $89,461.

Learn more about maturity value:

brainly.com/question/9099365

#SPJ1

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D the bored of directors
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2 years ago
To record a​ 6% stock​ dividend, accountants use​ ________. To record a​ 55% stock​ dividend, accountants use​ ________. A. par
RoseWind [281]

Answer:

Computers

Explanation:

They use computers these days.

5 0
3 years ago
Read 2 more answers
Organizations that assist in moving goods and services from producers to businesses (B2B) and from businesses to consumers (B2C)
klemol [59]

Organizations that assist in moving goods and services from producers to businesses (B2B) and from businesses to consumers (B2C) are called marketing intermediaries.

<h3>What is the purpose of marketing intermediaries?</h3>

marketing intermediaries are those organizations that stand in the gap to

make sure the goods from the producer get to the consumers.

They usually appears as wholesaler and they Organizations that assist in moving goods and services from producers to businesses.

Learn more about marketing intermediaries at:

brainly.com/question/14457086

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5 0
1 year ago
Identify the true statement in each of the three modules. Identify the true statement. Deregulation can describe removing govern
Maksim231197 [3]

Answer:

Deregulation can describe either removing government control of the price of a good or the removal of government control of quantities.

Explanation:

Deregulation is the removal of government control , regulation or power in a particular sector or industry. An example of deregulation is the mail delivery. The government had a monopoly on the royal mail for many years

Deregulation can involve :

  • removal of government control on price
  • Removal of control on quantities

Advantages of deregulation

  1. It increases the rate of innovation and competition. This increases consumer choice.
  2. Efficiency of corporations are increased and this lowers cost

Disadvantages of deregulation  

  1. Customers are more vulnerable to high  risk-taking by companies.

6 0
2 years ago
The total market value of a municipality is $25,000,000 and the total assessed value of a municipality is $11,250,000. What is t
gulaghasi [49]

Answer: The equalization rate for the municipality is 45%.

Explanation:

Given that,

Total market value of a municipality = $25,000,000

Total assessed value of a municipality = $11,250,000

Therefore,

Equalization rate for the municipality =\frac{Assesed\ value}{market\ value}

= \frac{11250000}{25000000}

= 0.45

= 45%

Hence, the equalization rate for the municipality is 45%.

6 0
3 years ago
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