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Sever21 [200]
3 years ago
14

Your parents are giving you $205 a month for 4 years while you are in college. At an interest rate of .48 percent per month, wha

t are these payments worth to you when you first start college

Business
1 answer:
luda_lava [24]3 years ago
7 0

Answer:

$8,770.00

Explanation:

In this question we use the present value formula i.e shown in the attachment below:

Data provided in the question

Future value = $0

Rate of interest = 0.48%

NPER = 4 years × 12 months = 48 months

PMT = $205

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be $8,770.00

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An indifference curve shows all the alternative combinations of two consumption goods that... Select one: a. can be produced by
Rainbow [258]

Answer: Option (d) is correct.

Explanation:

An indifference curve is a graphical representation of two goods which reflects all the combination of two goods to be consumed by the individual.

Indifference curves are convex to the origin and two indifference curves never intersect each other.

All the combination of two goods on a single indifference gives equal level of satisfaction and yield the same level of total utility.

5 0
3 years ago
Sam and Joan made an offer of $250,000 asking the seller to pay all closing costs. They will put 10% down and pay one discount p
Archy [21]

Answer:

$27,500

Explanation:

Discount points are also called mortgage points and are fees paid as prepaid interest rate on a mortgage property.

One discount point is equivalent to 1% of the loan amount.

In the given scenario a down payment of 10% was made.

Also they are pay one discount point to close.

So total down payment to be made is 10% + 1% = 11%

Amount is cash for closing = 0.11 * 250,000 = $27,500

3 0
2 years ago
Florida state saving bond can be converted to $1000 at maturity date of five year from purchase if the state bond are to be comp
melisa1 [442]

Answer:

The price will the state bonds sell would be $951.46

Explanation:

In order to calculate the price will the state bonds sell we would have to make the following calculation:

price will the state bonds sell=price to be converted/(1+interest rate)∧n

According to given data we have the following:

price to be converted=can be converted to $1,000 at maturity date of five year from purchase

interest rate=1%

n=5

Therefore, price will the state bonds sell=$1,000/(1+1%)^5

price will the state bonds sell=$951.46

The price will the state bonds sell would be $951.46

3 0
3 years ago
The following is not a distinguishing characteristic of a life estate.
CaHeK987 [17]

Answer:

The correct answer is letter "B": Holders of future interest own only a reversionary interest.

Explanation:

A life estate is a grant provided by the owner of a property to another individual for his or her lifetime. That individual -<em>called the life tenant</em>, is right to use the property at will bound only to waste. The distinguishing characteristics of the life estate imply that <em>holders of future own revisionary or remainder interest</em>, and that <em>the estate could be created by agreement from private parties or by law under prescribed scenarios</em>.

6 0
3 years ago
Assume that you will be opening a savings account today by depositing $100,000. The savings account pays 5 percent compound annu
Oksi-84 [34.3K]

Answer:

5000

Explanation:

100,000x5%= 5000

5000x4 years= 20,000x5%= 1000

5000x5=25,000x5%= 1250

1250+ 1000= 2250

R= 1750

5000-2250-1000= 1750

I might be wrong

7 0
1 year ago
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