1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
love history [14]
2 years ago
13

What+is+the+principal+remaining+after+monthly+payments+have+been+made+on+a+$+-year+loan?+the+annual+interest+rate+is+%+nominal+c

ompounded+monthly
Business
1 answer:
DanielleElmas [232]2 years ago
5 0

The Correct answer is $14,579

n= 5 years adjusted for monthly payment.
n=5*12
n=60
r= 12% adjusted for monthly payment
r = 0.12 / 12
r = 0.01
LLoan = $20,000
We must first determine the monthly payment:
A = P (A/P, 1%, 60)
A = $20,000 * 0.0222
A = $444
We know that after the 20 payments, 40 payments are remaining.
P = $444 * (P/A, 1%, 40)
Based on the compounding table, if i = 1% then (P/A, 1%, 40) = 32.8346
P = $444 * 32.8346
P = $14,578.56
P = $14,579

Learn more about compound interest here

brainly.com/question/18456266

You might be interested in
Joe's restaurant, a pizza chain, is known for its quick service. it takes the employees four minutes to prepare the dough and ad
serious [3.7K]
In this scenario, the employees of Joe's restaurant are engaged in work processes. 
All of these employees have specific duties within their job that they need to finish. Each of them does something different, so that they can cooperate and finish the job faster. They perform various tasks with the aim to produce great results for their restaurant.
8 0
3 years ago
Pretend you make $750 worth of purchases on your credit card, your bill arrives saying your minimum payment
Arte-miy333 [17]

Answer and Explanation:

You will be charged credit card interest on the outstanding balance. Your credit card interest is added to your outstanding balance for each day past your due date of payment(after the month you didn't pay the full amount)

You made a purchase of $750 and paid $150 and so you have an outstanding balance of $600. This outstanding balance will be charged interest on daily basis. Let's assume your APR(your annual interest over 12 months) is 24%, your interest is broken down into months and then days. Your monthly interest is therefore 24/12= 2% and your daily interest = 0.02/30 = 0.00067= 0.0067% per day.

Based on this assumption, you will be charged 0.0067% interest on your outstanding balance each day till you make full payment(interest + outstanding balance)

8 0
3 years ago
Laila created a new piece of workout gear. She's calling it the Toned Tushie. Although she couldn't initially find potential inv
exis [7]

Answer: Optimistic

Explanation: Being optimistic is expecting the best from the situation of life. It's a state of mind of always expecting the best out of life and also making the best of what life gives.

Laila is optimistic her idea would succeed, despite a few setbacks she experienced in the business, she still believes her business would be a success. To back up her believe she adds action, investing the resources at her disposal.

4 0
4 years ago
Discuss the role of ethics in operations.
ozzi

Answer:

Ethics serve as a guide to moral daily living and helps us judge whether our behavior can be justified. Ethics refers to society's sense of the right way of living our daily lives. It does this by establishing rules, principles, and values on which we can base our conduct.

5 0
3 years ago
Presented below is information related to Waterway Inc.’s inventory. (per unit) Skis Boots Parkas Historical cost $370.50 $206.7
mote1985 [20]

Answer:

(1) $313.95; $313.95

(2) $210.6; $206.70

(3) $97.49; $97.49

Explanation:

Skis:

Net realizable value = selling price - cost to sell - cost to complete      

                                  = 413.40 - 37.05 - 62.40

                                  = $313.95

Historical cost = $370.50

LCNRV = lower of historical cost or net realizable value

             = $313.95

Boots:

Net realizable value = selling price - cost to sell - cost to complete      

                                  = 282.75 - 15.60 - 56.55

                                  = $210.6

Historical cost = $206.70

LCNRV = lower of historical cost or net realizable value

             = $206.70

Parkas:

Net realizable value = selling price - cost to sell - cost to complete      

                                  = 143.81 - 4.88 - 41.44

                                  = $97.49

Historical cost = $103.35

LCNRV = lower of historical cost or net realizable value

             = $97.49

7 0
3 years ago
Other questions:
  • Schedule of Cash Collections on Accounts Receivable and Cash Budget
    7·1 answer
  • 3. Suppose that a firm can produce a part it uses for $875 per unit, with a fixed cost of $75,000. The company has been offered
    12·1 answer
  • Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $2,400,000.
    6·1 answer
  • Tresnan Brothers is expected to pay a $1.1 per share dividend at the end of the year (i.e., D1 = $1.1). The dividend is expected
    5·1 answer
  • Kaelker Corporation reports that at an activity level of 7,000 units, its total variable cost is $590,730 and its total fixed co
    15·1 answer
  • How to promoting a new software to a business?
    6·1 answer
  • g Foxx Company incurs $330000 overhead costs each year in its three main departments, setup ($15000), machining ($225000), and p
    14·1 answer
  • Domestic production is also known as? 
    13·2 answers
  • Partners Dennis and Lilly have decided to liquidate their business. The following information is available:
    15·1 answer
  • Which of the following best describes economics?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!