You will need a law degree
Answer:
The annual payment at the end of each year: $4,572.23
Explanation:
The formular for calculating Present value of Annuity is applied in this case to help us find the equal annual payment.
Applying information in the question, we have the annuity that have:
n= 10 as there are 10 equal annual payments paid at the end of each year during 10 years;
i = 8.5% per annum compounded annually, as stated in the question;
PV = Borrowed amount = $30,000;
C = the equal annual payment.
The formular for PV of Annuity: PV = (C/i) x [ 1- (1+i)^(-n)] <=> C = (PV x i) / [ 1- (1+i)^(-n)]
Thus, C = (30,000 x 8.5%) / [ 1- 1.085^(-10) ] = $4,572.23
Answer:
Business
Explanation:
entrepreneurship is just a map in which successful are those just make this web
The panel of economists appointed by the senate finance committee estimated that the cpi <u>overestimates</u> inflation by approximately <u>1</u> percentage point(s) per year.
An economist is a professional and practitioner within the social technology subject of economics. The individual may additionally take a look at, increase, and follow theories and ideas from economics and write about economic coverage.
Economists look at the manufacturing and distribution of sources, items, and services by gathering and studying facts, gaining knowledge of trends, and comparing monetary problems.
An economist is a person who studies the reasoning behind the back of choices humans make and is interested in using the information to boost income, create better public coverage, or conduct research.
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