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LekaFEV [45]
3 years ago
9

4. Your car loan requires payments of $200 per month for the first year and payments of $400 per month during the second year. T

he annual interest rate is 12% and payments begin in one month. What is the present value of this 2-year loan?
Business
1 answer:
anyanavicka [17]3 years ago
7 0

Answer:

present value = $6,246.34

Explanation:

given data

loan payment 1st year  = $200 per month

loan payment 2nd year = $400 per month

annual interest rate =  12%

solution

we get here present value of 2 year loan that is express as

present value of 1st and 2

present value = present value of 1st + present value of 2nd year

we get here

present value = { $200 × \frac{1}{0.01} - \frac{1}{0.01(1.01)12} + $400 × \frac{1}{0.01} - \frac{1}{0.01(1.01)12} } ÷ 1.0112

present value = $6,246.34

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Answer:

Results are below.

Explanation:

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<u>Now, the unitary variable cost per composite unit:</u>

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4 0
3 years ago
self-organization versus hierarchical organization — a mathematical investigation of the anarchist philosophy of social organiza
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self-organization versus hierarchical organization — a mathematical investigation of the anarchist philosophy of social organization

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2 years ago
&gt;Leland pays premiums of $5,000 for an insurance policy in the face amount of $25,000 upon the life of Caleb and subsequently
Ymorist [56]

Answer:

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As the life insurance policy was transferred for some valuable consideration so the amount of valuable consideration will be deducted from the insurance proceeds.

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6 0
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If a customer's bill is $45.00 for the first month their subscription starts and $30.00 each month after that, which date did th
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Answer:

cannot be provided to one person without making it available to others as well.

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Public goods contrasts with club goods and private goods

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6 0
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