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7nadin3 [17]
3 years ago
8

Suppose you borrowed $37,000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years.

How large would your payments be?
Business
1 answer:
Eva8 [605]3 years ago
3 0

Answer:

C = 11,420.7405

Explanation:

Loan for 37,000 at 9% in four annual payment

We have to calculate the cuota of an annuity

C * \frac{1-(1+r)^{-time}}{rate} = PV\\

where rate = 0.09

time = 4

and present value is the 37,000 we receive today

C \times \frac{1-(1+0.09)^{-4}}{0.09} = 37,000\\\\\frac{37,000}{3.239719877} = C

C = 11,420.7405

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A recent Gallup study reported that firms with top engagement scores had 18% higher productivity. 
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3 years ago
You are saving for retirement. To live​ comfortably, you decide you will need to save $ 1million by the time you are 65.Today is
kozerog [31]

Answer:

Monthly pay= 5344.67

Explanation:

Giving the following information:

To live​ comfortably, you decide you will need to save $ 1million by the time you are 65.

Today is your 29th ​birthday, and you​ decide to put the same amount into a savings account. If the interest rate is 8%​.

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n= 36

i= 0.08

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We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

We need to isolate A (monthly pay):

<u>A= (FV*i)/[(1+i)^n-1]</u>

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8 0
3 years ago
If you were originally a lender, remain a lender even after a decline in interest rates. Will you get better or worse after the
Anestetic [448]

Answer:

If the lender rate decline he will be worst of due to consumer buying behavior.

Explanation:

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3 years ago
What type of budget is used to forecast income and expense over some period of years?
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A stabilized budget is used to forecast income and expense over some period of years.

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After construction or a large refurbishment, the projected rental income, cost, or Net Operating Income Example: Stabilized income was predicted two years after an office building opened.

Thus, A stabilized budget is used to forecast income and expense

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2 years ago
a(n) blank market is created when a customs union lifts restrictions on the mobility of services, labor, and capital among membe
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A common market is created when a customs union lifts restrictions on the mobility of services, labor, and capital among member nations.

<h3>Why was the common market formed?</h3>

Through the removal of the majority of trade barriers and the development of a unified external trade strategy, the EEC was created with the goal of establishing a common market among its members. In order to shield EEC farmers against agricultural imports, the treaty also called for the creation of a unified agricultural policy, which was implemented in 1962.

A free trade zone with a reasonably unrestricted circulation of goods and services is referred to as a common market. When it was a regional organization from 1958 to 1993, the European Economic Community was known as the "Common Market."

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