Answer:
I can borrow $24,000
Explanation:
A fix Payment for a specified period of time is called annuity. The discounting of these payment on a specified rate is known as present value of annuity.
The amount of loan can be calculated as follow
PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]
Amount of Loan = $632 x [ ( 1- ( 1 + 1% )^-48 ) / 1% ]
Amount of Loan = $632 x [ ( 1- ( 1.01 )^-48 ) / 0.01 ]
Amount of Loan = $24,000
r = 7.17%
Interest rate is 7.17%
Where is the video? I can't see it.
The answer for this statement is TRUE
The five M's of advertising are mission, money, message, media, and measure. Among the five, Jasmine's focus is media. She wants to make sure that the type of platform she uses can help get the message across more effectively. She is also focused on the specification and style of the ad she will publish via print media.