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Alex
3 years ago
8

If your uncle borrows $56,000 from the bank at 10 percent interest over the eight-year life of the loan. Use Appendix D for an a

pproximate answer but calculate your final answer using the formula and financial calculator methods. a. What equal annual payments must be made to discharge the loan, plus pay the bank its required rate of interest? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Business
1 answer:
Elan Coil [88]3 years ago
7 0

Answer:

a. Annually equal instalment = Principal x rate x ( (1+rate)n / (1+rate)n -1 )

Explanation:

Accrding to the following formula, we calculate the anually equal instalment.

So, instalment = 56000 x 0.10 x ( (1.10)8 / (1.10)8 -1) = $10496.86498 ~ $10496.86

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The correct answer is Habitual Practice

Explanation:

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3 years ago
Vijay Company reports the following information regarding its production costs. Direct materials $ 10 per unit Direct labor $ 20
kirill115 [55]

Answer:

Unitary variable cost= $40

Total variable cost= $800,000

Explanation:

Giving the following information:

Direct materials $ 10 per unit

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Fixed overhead $ 160,000

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Total variable cost= 20000units* 40= $800,000

7 0
3 years ago
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Symon's Suppers Co. has announced that it will pay a dividend of $4.23 per share one year from today. Additionally, the company
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Answer:

$68.23

Explanation:

In this question, we apply the dividend growth rate model which is shown below:

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= ($4.23) ÷ (6.2%)

= $68.23

We simply find out the ratio between the current year dividend per share and difference between the rate of return and the growth rate

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3 years ago
If there are 100 transactions in a year and the average value of each transaction is $10, then if there is $200 of money in the
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Answer:

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2 years ago
State a reason to justify that marketing is a beneficial concept.​
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