Answer:
$1,295.03
Explanation:
To find the answer, we will use the present value of an annuity formula:
PV = A ( 1 - (1 + i)^-n) / i
Where:
- PV = Present Value of the investment (in this case, the value of the loan)
- A = Value of the Annuity (which will be our incognita)
- i = interest rate
- n = number of compounding periods
Now, we convert the 7.9 APR to a monthly rate. The result is a 0.6% monthly rate.
Finally, we plug the amounts into the formula, and solve:
75,500 = A (1 - (1 + 0.006)^-72) / 0.006
75,500 = A (58.3)
75,500 / 58.3 = A
1,295.03 = A
Thus, the monthly payments of the car loan will be $1,295.03 each month.
The price elasticity of supply is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.
<span>The human population grew from 1 billion in the year 1800 to 6 billion in the year 2000. People are living longer than they ever have with newer medical practices. Families are also having more children.</span>
Answer:
Societally speaking, charity giving improves the community at large. Organisations such as homes for the less privileged, foster care homes, motherless babies homes, who are trying hard to make ends meet are usually relieved when reasonable charity donations flow in.
The community is better off with it more charitable givers than less.
At the personal level, people find fulfilment when they give.
It is also theorised that giving for an individual may be stimulated by any of the factors in the first three levels (descending order) of Abraham Maslows Hierarchy of needs.
The factors are:
- Self Actualization (becoming one's highest self)
- the Satisfaction of self-esteem needs. Many people give in order to feel that their lives are meaningful find happiness in giving. They usually find it.
- Others give because due to the need to belong and be accepted
Cheers!
