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
dedylja [7]
1 year ago
14

an amount of 16000 is borrowed for 8 years at 3% interest, compounded annually. if the loan is paid in full at the end of that p

eriod, how much must be paid back?
Business
1 answer:
bezimeni [28]1 year ago
4 0

He must pay back 20268.32 of amount after borrowing 16000 for 8 years at the interest rate of  3% for one year.

<h3>How to calculate loan amount ?</h3>
  • The term "Loan Amount" refers to the sum of money we currently owe you for this mortgage. The loan amount may also include other fees, interest , defaulted payments, interest on defaulted payments, principal, and interest on unpaid principal.
  • The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate. The total interest on a loaned or borrowed sum is determined by the principal amount.

Amount he borrowed = 16000

No. of years = 8 years

Rate of interest = 3%

Calculate full amount (A) :

Equation for A = P(1 + r/n)^(nt)

A =  16000(1 + .03)^8

A = 20268.32

He need to pay 20268.32 after 8 years.

To learn more about Loan amount refer :

brainly.com/question/26011426

#SPJ4

You might be interested in
Pick a number from 1 to 50 winner gets 30 points. You can comment or answer on this question.
White raven [17]

Answer:

43

Explanation:

6 0
3 years ago
Read 2 more answers
When using straight line amortization on premium bonds:_______.
Vsevolod [243]

Answer: the same interest income is reported each year

Explanation:

The straight-line amortization method is a simple way to amortize a bond as an equal amount of interest are allocated over every accounting period.

When using straight line amortization on premium bonds, the same interest income is reported each year. Therefore, option A is the best answer.

5 0
3 years ago
What refers to a thorough analysis of the circulation procedures, outlets of distribution, readers, and other factors by compani
Elodia [21]

Answer:

circulation audit

Explanation:

A circulation audit is a term that describes a distinct form of audit which validates publisher's real printing and distribution, and at the same time, verifies publisher's books, records, and documents relating to circulation.

In other words, it is considered as a standardized, authoritative statement of a publication's printing, distribution, and readership.

Hence, CIRCULATION AUDIT refers to a thorough analysis of the circulation procedures, outlets of distribution, readers, and other factors by companies such as ABC

4 0
3 years ago
Which is a true statement?
Softa [21]

Answer:

O A real interest rate that is higher than current inflation is desirable,

Explanation:

The real rate is the nominal rate of interest after considering the inflation rate.  The nominal rate is the interest rate quoted by financial institutions.  It shows the percentage of return expected on a deposit or loan. The inflation rate communicates the rate at which prices are increasing in the economy.

The real rate is equivalent to the nominal minus the inflation rate. An ideal situation is when the real rate is higher than the inflation rate. In such a situation, the rate of money growth is higher than the price increases. It means the invested amount will increase in value. At the end of a period, the invested amounts will buy more goods and services than

3 0
3 years ago
In addition to regular Alka-Seltzer, there is an Alka-Seltzer product for each of the following: cold sufferers, people with ups
Elza [17]

Answer:

Full line Strategy

Explanation:

The company that pursues full line strategy actually have a diversified product offerings within the business industry. Let consider the offerings of Toyota which produces a range of car products from a low price and quality car to excellent quality car products that are priced high. This helps them to target all the customer segments who are willing to buy a car from a lower class to upper class customers. Likewise in this case, the pharmaceutical company is trying to target maximum number of different customer segments who are the industry customer in which the company is operating.

7 0
3 years ago
Other questions:
  • Larry Mitchell invested part of his $ 35 comma 000$35,000 advance at 4 %4% annual simple interest and the rest at 9 %9% annual s
    13·1 answer
  • Protecting intellectual property rights can result in new inventions that help the economy to grow. True False
    7·2 answers
  • A new company to produce state-of-the-art car stereo systems is being considered by Jagger Enterprises. The sales price would be
    6·1 answer
  • Parsley, a world-famous chef, signs a contract to give lessons in French cooking to Curry. Parsley wants to transfer his duties
    15·1 answer
  • A retail operation has an average gross margin of 35%. If the average monthly sales for the store is $200,000.00, what is the co
    12·1 answer
  • Which statements are true? Check all that apply: C-corporations are subject to double taxation. LLCs are best for taking venture
    10·1 answer
  • Far Side Corporation is expected to pay the following dividends over the next four years: $13, $12, $6, and $3. Afterward, the c
    5·1 answer
  • How do ethics and law govern how businesses conduct themselves ?
    8·1 answer
  • Company A has 279,000 basic shares outstanding and 26,000 outstanding options and warrants. The exercise price of these options
    10·1 answer
  • What is the opportunity cost of studying for an important exam
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!