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mr Goodwill [35]
3 years ago
13

You have accumulated $85,000 in student loans that average 5% interest. You graduate next month and will be paying off the loans

over 10 years. Which of the following is most likely to be your monthly payment assuming you pay interest and a portion of the principal each month?
Business
1 answer:
photoshop1234 [79]3 years ago
8 0
Use the formula of the present value of an annuity ordinary which is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 85000
PMT monthly payment?
R interest rate 0.05
K compounded monthly 12
N time 10 years
Solve the formula for PMT
PMT=Pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
PMT=85,000÷((1−(1+0.05÷12)^(
−12×10))÷(0.05÷12))
=901.55 round to the nearest tenth to get 900

Hope it helps!
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The current highest interest rate on a savings account is 1.85%. the current rate of inflation is 1.9%. what is the real dollar
adoni [48]

Answer: 0.51

Explanation:

Nominal rate = 1.85%

Inflation rate = 1.90%

Real rate of return = (1 + nominal rate / 1 +inflation rate) - 1

Real rate of return = ((1 + 0.0185) / (1 + 0.019)) - 1

= (1.0185 / 1.019) - 1

= 0.9995 - 1 = - 0.0005

Therefore, the real dollar return I. $1,020 equals

0.0005 × 1020 = 0.51

3 0
3 years ago
A client is to be transferred from the coronary care unit to a progressive care unit. The client asks the nurse, "Are you sure I
german

Complete/Correct Question:

A client is to be transferred from the coronary care unit to a progressive care unit. The client asks the nurse, "Are you sure I'm ready for this move?" What should the nurse determine that the client most likely is experiencing based on this statement?

Answer:

Fear

Explanation:

The client is fearful because he/she is being transferred from a high supervised unit to one perceived as less supervised.

This is because the client wants to avoid a recurrence of his condition as a result of the unit change to a lesser supervised area as thought by the client.

In this regard, the nurse is meant to reassure the client about the continuous supervision of his/her situation no matter which unit he/she in in.

Cheers.

7 0
3 years ago
Gardner electric has a beta of 0.88 and an expected dividend growth rate of 4.00% per year. the t-bill rate is 4.00%, and the t-
coldgirl [10]
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8 0
3 years ago
Which sentence in the passage refers to the "analysis" of a given problem?
GrogVix [38]

Answer:

Last paragraph

Explanation:

Finally, Jeremey has also divided the problem into smaller parts, such as production costs, overheads, downtime expense, repair expenditure, and so on.

7 0
2 years ago
Read 2 more answers
The following inventory valuation errors have been discovered for Knox Corporation:
Whitepunk [10]

Answer:

Income +/- inventory adjustment

2015:   138,000 - 23,000 = 115,000

2016:  254,000 + 61,000 = 315,000

2017:   168,000 + 17,000 = 185,000

Explanation:

<u>Inventory Identity:</u>

Beginning + Purchases = Ending + COGS

As the mistake is on the right side it compensates by the other component which is COGS

<u><em>When the inventory is overstated</em></u> this means COGS is understated.

We didn't record the cost of good sold thefore our gross profit is higher making the net income higher.

<u><em>When the inventory is understated</em></u> this means COGS is overstated.

We record more cost of goods sold thefore our gross profit is lower making the net income fewer as well.

7 0
3 years ago
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