Answer:
$21,796.14
Explanation:
Use the Time Value of Money techniques to calculate the amount of each installment (PMT)
PV = $250,000
i = 6 %
n = 20
P/yr = 1
FV = $0
PMT = ?
Using a Financial calculator to input the values as above, each annual instalment/payment will be $21,796.14.
It is a finance lease , because Jamal purchased a financial equity, which is the stock, with the cooperative and he moved to one of its units, therefore, the risk and rewards are transferred to Jamal and it is considered to be a finance lease.
Answer:
nominal interest rate
Explanation:
Titan State Bank offer of 6% interest is a quoted interest rate. A quoted interest rate is also annual payable rate (APR) and in this case, it is compounded quarterly. Additionally, since this quoted rate does not take into account the inflation rate, it is referred as a Nominal interest rate. However, when that nominal rate of 6% is adjusted for inflation, the rate you earn is the Real interest rate which you calculate using the Fisher equation.
Answer:
a- $ 838.50
b-$134.16
c- $618.59
d- see below
Explanation:
a- $10.75 X 78 hours = $v838.5
b- $ 838.5 X 16% = $ 134.16
c - $ 838.5 - federal and state income tax $ 134.16 - other ded $ 85.75 = 618.59
