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vlabodo [156]
3 years ago
14

You have just received an offer in the mail from Friendly Loans. The company is offering to loan you $4,250 with low monthly pay

ments of $90 per month. If the interest rate on the loan is an APR of 15.3 percent compounded monthly, how long will it take for you to pay off the loan
Business
1 answer:
Kobotan [32]3 years ago
8 0

Answer:

73 months

approximately 6 years

Explanation:

The period of time it would take to pay off the loan can be determined using excel nper function as below:

=nper(rate,pmt,-pv,fv)

rate is the interest expressed in monthly terms which is 15.3%/12

pmt is the amount payment per month i.e $90

pv is the amount of loan which is $4250

fv is the balance of the loan after all payments have been made i.e $0

=nper(15.3%/12,90,-4250,0)= 73 months

73 months/12 months=approximately 6 years  

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The promotional mix consists of:a. public relations, direct marketing, personal selling, and publicityb. advertising, personal s
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3 years ago
Galena is a new agent for a financial services company. She decides to join the local chamber of commerce, the local association
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Answer:

B) networking

Explanation:

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4 0
3 years ago
The College Bookstore sells a unique calculator to college students. The demand for this calculator has a normal distribution wi
Strike441 [17]

Answer:

Option (A) is correct.

Explanation:

Given that,

Mean daily demand, M = 20 calculators per day

Standard deviation, SD = 4 calculators per day

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Normal consumption during lead-time:

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= 20 × 9

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Safety Stock = z value × SD × L^(0.5)

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                     = 1.65 × 4 × 3

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                        = 199.8 or 200 units (Approx)

5 0
3 years ago
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Answer:

Jack has claim while Jill didn't have.

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Jack has claim against Deuce Hardware because his performance is tremendous and make more sales for the company. He done his work very well so he can claim against Deuce Hardware Supplies while on the other hand, Jill has no claim against Deuce Hardware because he commit a crime on the basis of which the company has the authority to terminate him from the job. He works very well in the company but his crime is big enough to terminate him.

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3 years ago
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