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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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Therefore, the correct answer is
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_____ refers to the actions of consumers directly involved in obtaining, consuming, and disposing of products, and the decision
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Answer:

Consumer behavior

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3 years ago
The income effect causes quantity demanded to​ ________ when the price of a normal good​ decreases, and causes quantity demanded
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c. ​increase; decrease

4 0
3 years ago
You bought one of Great White Shark Repellant Co.’s 5.8 percent coupon bonds one year ago for $1,030. These bonds make annual pa
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Answer:

total rate of return on the Bond = 9.40%

Explanation:

given data

coupon bonds  = 5.8%

bonds price =  $1,030

maturity time = 14 year

required return on the bonds = 5.1 percent

solution

we know here market price of the bond is Present Value of Coupon Payments + Present face Value  

so that face Valueof  bond = $1,000

and here annual Coupon Amount will be

annual coupon amount = $1000 × 5.80%

annual coupon amount = $58

and here Market Price of the Bond will be

Market Price of Bond = Present Value of Coupon Payments + Present face Value    ......................1

here Present Value of Coupon Payments  at PVIFA 5.10% and 14 Years

Present Value Annuity Inflow Factor (PVIFA) =  \frac{1-(1/(1+r)^t}{r}  ....2

Present Value Annuity Inflow Factor =  \frac{1-(1/(1+0.0510)^14}{0.0510}

Present Value Annuity Inflow Factor = 9.83566

and

Present Value Inflow Factor (PVIF) 5.10%, 14 Years= \frac{1}{(1+r)^t}   ...........3

Present Value Inflow Factor (PVIF) = \frac{1}{(1+0.0510)^14}

Present Value Inflow Factor = 0.49838

so

Market Price of Bond = ( $58 × 9.83566 ) + ( $1,000 × 0.49838 )

Market Price of Bond = $1,068.85

so total rate of return on the Bond will be

total rate of return on the Bond = [ { Annual Coupon Amount + ( Change in Bond Price ) } ÷ Current Price]  ...............4

total rate of return on the Bond = \frac{58+(1068.85-1030)}{1030}

total rate of return on the Bond = 9.40%

5 0
3 years ago
For the month of May, the company planned for activity of 112 births, but the actual level of activity was 114 births. The actua
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Answer:

D)

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i think its right.. but i may be wrong.. i tried either way.

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