Answer:
It will take 51 months.
Explanation:
As we know the constant payment of $290 monthly is the annuity payment to pay $12,000 with interest rate of 0.84% per month. The Number of Months can be calculated by following formula.
Loan amount = PV = $12,000
Rate of interest = r = 0.84 %
Monthly Payment = P = $290
PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]
$12,000 = $290 x [ ( 1 - ( 1 + 0.84% )^-n / 0.84% ]
$12000 x 0.84% / $290 = 1 - ( 1 + 0.84% )^-n
0.347586 = 1 - ( 1 + 0.84% )^-n
0.347586 - 1 = - ( 1 + 0.84% )^-n
-0.652414 = - ( 1 + 0.84% )^-n
1 / 0.652414 = 1.0084^n
1.532769 = 1.0084^n
Log 1.532769 = n x log 1.0084
n = Log 1.532769 / log 1.0084
n = 51
Answer:
approximately , a stack of 100 dimes is 5.3 inches tall. 100 dimes is equal to $10. So you need approximately 1,939,060,400 stacks of 100 dimes. This incredible amount of dimes is 1,939,060,400 x 5.3/12 = 856,418,343.3 feet tall.
Including the antenna, the Empire States Building is 1,454 feet tall.
So you need approximately 856,418,343.3 / 1,454 = 589,008.49 Empire State building‑height stacks of dimes
Answer:
The correct answer is A
Explanation:
Short term restrictive financing policy is the policy which is entails the low ratio of the current assets to the sales. This policy is grounded on the liabilities which are short term in nature.
In order to maintain the low ratio of the current assets to the sales, one needs to purchase or bought the inventory
Answer:
C.Principal
The amount of the loan is called the principal, and the extra amount they charge you to borrow the money is called interest.
hope this helps :)
