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
Jim Moore opens a new savings account. He deposits $12,000 at 12% compounded semiannually. At the start of the fourth year, Jim
hjlf

Answer:$119,735.6

Explanation:

To calculate the total in the account,we use the compound interest formula

A= P ( 1+ ( R/2)/100)∧2n

P = $ 12,000 n = 4 R = 12%

A = 12,000 (1+(12/2/100)∧2*4

A = 12,000 ( 1+ ( 6)/100)∧2*4

A = 12,000 ( 1+0.06)∧8

A= 12,000 ( 1.06)∧8

A = 12,000 ( 1.5938)

A= 12,000* 1.5938

A= $ 19,125.6

Another deposit into the account

A = P ( 1+(R/2)/100)∧2n

A= 50,000 (1+12/2/100)∧2*6

A= 50,000 (1+6/100∧12

A = 50,000 ( 1+0.06)∧12

A = 50,000 (1.06)∧12

A= 50,000 ( 2.0122)

A = 50,000* 2.0122

A = 100,610

Therefore, the total in the account

$19,125.6 + $100,610

= $119,735.6

5 0
3 years ago
Donna is a very smart accountant. She is friendly and outgoing but sometimes she gets distracted and does not turn in her work o
Pachacha [2.7K]

Donna is lacking <u>motivation</u>.

The reason is Donna having a friendly quality, if you having this quality then you can build a trust in your leadership. and also Donna is a very smart personality which ensures it's positivity and dependability.

6 0
3 years ago
g The corporate charter of Imp Company authorized the issuance of 10 million, $1 par common shares. During 2021, its first year
slavikrds [6]

Answer:

$116 million

Explanation:

Calculation of Additional Paid-in-Capital

Jan 1: 8 million*$14             $112 million

June 3: 2 million*$17         ($34 million)

Dec 28: 2 million*$19        $38 million

Paid-in-Excess capital      $116 million

So, the company should report $116 million as additional paid-in capital in its December 31, 2021, balance sheet.

8 0
3 years ago
Do you think marketing intelligence tools and techniques has the potential to invade the privacy of private citizens? why or why
Afina-wow [57]

Market intelligence tools (also named marketing intelligence software) support businesses collect and aggregating required information about companies and people in their marketplace.

<h3>What is marketing intelligence tools?</h3>

Market intelligence tools (also named marketing intelligence software) support businesses collect and aggregating required information about companies and people in their marketplace. This can include firm graphic information. financials and allocation rounds. competitive knowledge and analysis. Market intelligence allows you to become more customer-centric, gain a better understanding of market demands and consumer opinions, gather real-time relevant data, improve upselling chances, minimize risks, improve market share, and gain a competitive edge.

Technological innovation holds outpaced our privacy protections. As a result, our digital footprint can be tracked by the government and corporations in practices that were once unthinkable. This digital footprint lives constantly growing, including more and more data about the most intimate elements of our lives. As connectivity improves access to information, it also increases the possibility for agents to act established on the new sources of information. When these sources include personal information, risks of damage, inequality, discrimination, and loss of autonomy easily occur.

Anti-virus software exists becoming increasingly concentrated on online protection since this stands where most malware and attacks on privacy come from. Anti-virus tools like Bit defender can block unauthorized environment connections, warn you about suspect sites, and pick up any phishing exercise.

To learn more about marketing intelligence tools refer to:

brainly.com/question/14611936

#SPJ4

7 0
2 years ago
Under FINRA rules, to recommend a direct participation program to a customer, the registered representative must ascertain that
mylen [45]

Answer:

has a fair market net worth sufficient to sustain the risks of the program.

Explanation:

FINRA is an acronym for Financial Industry Regulatory Authority. It is a non-profit agency in the United States of America, which is saddled with the responsibility of handling the licensing and regulation of broker-dealers in securities.

A direct participation program (DPP) can be defined as a financial security which gives an investor (customer) access to the cash flow and tax benefits of a business venture.

Under FINRA rules, to recommend a direct participation program (DPP) to a customer, the registered representative must ascertain and ensure that the customer has a fair market net worth that is considered to be sufficient to sustain the risks associated with the program, including loss of investment and lack of liquidity.

5 0
3 years ago
Other questions:
  • Kilt Company had the following information for the year: Direct materials used $ 119,300 Direct labor incurred (5,750 hours) $ 1
    8·1 answer
  • A computed ___________ is a calculation that a DBMS performs, similar to the way a spreadsheet computes a formula.
    15·2 answers
  • Dennis has made a purchase of $50,000 using trade credit with terms of 2/10 net 30. how much discount will a he receive if the b
    10·1 answer
  • In 2021, CPS Company changed its method of valuing inventory from the FIFO method to the average cost method. At December 31, 20
    5·1 answer
  • On January 1, 2017, Grand Haven, Inc., reports net assets of $945,300 although equipment (with a four-year remaining life) havin
    5·1 answer
  • If you were a project manager, which of the following documents would be the most helpful in evaluating project risks and determ
    6·1 answer
  • Bonita Industries estimates its sales at 160000 units in the first quarter and that sales will increase by 27000 units each quar
    13·1 answer
  • The next dividend payment by Hoffman, Inc., will be $3.10 per share. The dividends are anticipated to maintain a growth rate of
    15·1 answer
  • One way to have a positive impact on animals is:
    14·1 answer
  • When the government transfers resources to the poor in the form of a good or service, it is called?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!