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dangina [55]
3 years ago
14

Industrial tools owes you $38,600. this amount is seriously delinquent so you have offered to accept weekly payments for one yea

r at an interest rate of 3 percent to settle this debt in full. what is the amount of each payment?
Business
1 answer:
lesantik [10]3 years ago
3 0
The problem could be solved by using the future value (FV) formula: FV = PV × (1 + r)ⁿ, where;
PV = Present value
r = interest rate
n period

So, substituting the formula with the value:

FV = $38,600 × (1 + (.03÷52))⁵²
     ≈ $39,775.20

Note that the interest is divided by 52 since it has to be compounded weekly.

So, the weekly payment will amount to $764.91 ($39,775.20÷52).
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A company that utilizes carbon fiber 3-D printing wants to have money available two years from now to add new equipment. The com
Alenkinab [10]

Answer:

Total amount available in two years is $1,354,125.

Explanation:

The total amount available in two years can be calculated as follows:

Total amount in the deposit now = Current deposit + Amount planned to be deposited = $650,000 + $200,000 = $850,000

Future value of the total amount the deposit now = Total amount in the deposit now * (1 + Annual interest rate)^Number of years the deposit used = $850,000 + (1 + 15%)^2 = $1,124,125

Future value of next year's deposit = Next year's deposit * (1 + Annual interest rate)^Number of years the deposit used = $200,000 * (1 + 15%)^1 = $230,000

Total amount available in two years = Future value of the total amount the deposit now + Future value of next year's deposit = $1,124,125 + $230,000 = $1,354,125

5 0
3 years ago
Ernesto owns a house painting company. Total sales for the past year were $75,000. His bills for running the business were $30,0
pentagon [3]

Answer:

Accounting profit = $45,000

Economic profit = $5,000

Explanation:

The computation of accounting profit and economic profit is shown below:-

Accounting profit = Sales - External expenses

= $75,000 - $30,000

= $45,000

Economic profit = Accounting profit - Implicit cost

= $45,000 - $40,000

= $5,000

Therefore for computing the accounting profit and economic profit we simply applied the above formula so that each one could arrive

7 0
3 years ago
1. apply what you’ve learned - managing credit cards and consumerloans
krok68 [10]

Answer:

The chips do nothing to protect against online payment card fraud, which depends on account numbers and passwords rather than the physical cards. As one security expert noted, computers and mobile devices don't have card readers attached.Explanation:

The chips do nothing to protect against online payment card fraud, which depends on account numbers and passwords rather than the physical cards. As one security expert noted, computers and mobile devices don't have card readers attached.

7 0
3 years ago
Treasury bills are currently paying 6 percent and the inflation rate is 3 percent. a. What is the approximate real rate of inter
nexus9112 [7]

Answer: a. 2.90%

b. 2.81%

Explanation:

Nominal rate = 6%

Inflation rate = 3.1%

a. What is the approximate real rate of interest?

The approximate real rate of interest will be calculated as:

= Nominal rate - Inflation rate

= 6.0% - 3.1%

= 2.90%

b. What is the exact real rate?

Exact real rate will be calculated as:

= (nominal-inflation) / (1+inflation)

= (6.0% - 3.1%) / (1 + 3.1%)

= 2.9% / 1.031

= 2.81%

3 0
3 years ago
How do fixed costs per unit​ behave?
ipn [44]
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7 0
3 years ago
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