<u>Part A</u>
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<u>Answer:</u>
$207,021
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<u>Explanation:</u>
The balance on the account at the end of the year 2020 is $1,000,000
The question asks us to calculate the balance on the account at the end of the year 1970, which is exactly 50 years ago.
We would simply discount the $1,000,000 by using an interest rate of 3.2%
=
= $207,021
<u>Part B</u>
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<u>Answer:</u>
$17,892.88
<u>Explanation:</u>
We have the value at year 1970 which is $207,021
Now to calculate the annual payment (PMT) we would plug the following values in the financial calculator,
PV = 0
N = 10
FV =207021
I/Y = 3.2
PMT = ?
PMT = $17,892.88
https://www.calculator.net/finance-calculator.html?ctype=contributeamount&ctargetamountv=207021&cyearsv=10&cstartingprinciplev=0&cinterestratev=3.2&ccontributeamountv=1000&ciadditionat1=end&printit=0&x=102&y=11
Answer:
1,073.54 total interest
Explanation:
39,000 x 9% x 80days/360 = 780 interest expense
Payment 4,200 - 780 = 3,420 deducted form the note:
39,000 - 3,420 = 35,580
35,580 x 9% x 33/360 = 293.54 interest expense
6,200 - 293.54 = 5,906.47 deduced form the note
35,580 - 5,906.47 = 29,673,53
293.54 interest expense
780 interest expense
1,073.54 total interest
Answer:
Rooftop farming, popularly known as "Kaushi Kheti" is the cultivation of different food crops in the roof of buildings which is usually done in the city areas where there is no adequate agricultural lands.Start with a plan. ...
Consult with the building engineer. ...
Check into access. ...
Use sturdy materials. ...
Find a water source. ...
Look for storage space. ...
Pick the right planting medium.
Explanation:
D to limit the amount of financial loss if there is an illness or injury
Answer:
The proportion of each payment that represents interest versus repayment of principal would be higher if the interest rate were higher
Explanation:
Amount of interest component in a loan instalment will be higher as compared with principal amount in the initial period of repayment . As period lapses , interest amount reduces progressively and principal amount increases . When the tenure of loan is increased , proportion of interest increases in an instalment .