1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stich3 [128]
3 years ago
8

Ken just purchased new furniture for his house at a cost of $15,000. The loan calls for weekly payments for the next 5 years at

an annual interest rate of 10.15 percent. How much are his weekly payments
Business
1 answer:
Stells [14]3 years ago
3 0

Answer:

His Weekly Payment is $73.62

Explanation:

Loan is paid in installment over the allowed period of the loan. It includes the principal payment and interest payment as well. Ultimately after a defined period the loan becomes zero. The loan installment amount is calculated as below.

Loan Payment per year = r ( PV ) / 1 - ( 1 + r )^-n

r = rate per period = 10.15% per year = 10.15%/52 = 0.1952% per week

n = number of Years= 5 years x 52 = 260 weeks

PV =  Loan amount = $15,000

P = payment per year = ?

P = 0.1952% ( $15,000 ) / 1 - ( 1 + 0.1952% )^-260

P = $29.28 / 0.3977

P = $73.62

You might be interested in
1.1
Hatshy [7]

Answer:

jjjjjjjjjjjjjjjjjjjj

Explanation:

hhhhhhhhhhhhhhhhhh

4 0
3 years ago
Embryologist salary thanks
dsp73

Answer:

The payscale is $48k - $110k per year in the united states

Explanation: Hope this helps:).........if not then I hope you find what you're looking for:)

5 0
2 years ago
Mesquite, Inc. has held-to-maturity debt securities it purchased in 20X1. At December 31, 20X2, the amortized cost basis of the
BabaBlast [244]

Answer:

"$10,000" is the appropriate solution.

Explanation:

According to the question, the values are:

Future cash flows,

= $2,10,000

Amortization Cost,

= $2,20,000

Now,

The loss amount will be:

=  Future \ Cash \ Flows - Amortization \ Cost

On substituting the given values, we get

=  2,10,000 - 2,20,000

=  10,000

5 0
3 years ago
Blight Financial has an investment in bonds issued by Searing Industries that are classified as trading securities. At December
Paul [167]

Answer:

b. Credit to Fair value adjustment for $5,000

Explanation:

Particulars                                Amount

Beginning balance of fair value adjustment   $20,000

Less: Unrealized gain on Dec 31, year 3         <u>$15,000</u>  ($515,000-$500,000)

Credit to Fair value adjustment                      <u>$5,000</u>

So, Credit to Fair value adjustment for $5,000 will be included in the related journal entry dated December 31, Year 3.

7 0
3 years ago
Financial statements can be prepared _____. (select all that apply.) multiple select question.
marysya [2.9K]

Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.

<h3>What is financial statement?</h3>

Financial statement help to summarize the financial position of a business and it as well help to show  the day to day transaction of a company or day to day activities of a business at a particular period of time.

Financial statement of a company can be prepared more that once in a year and financial statement may tend to have fiscal year end that is other than last month of the year which is 31st December.

Therefore Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.

Learn more about financial statement here:brainly.com/question/21307159

#SPJ1

The complete question is:

Financial statements ______. (Select all that apply.)

a. must have a calendar year end of December 31

b. may be prepared more than once a year

c. may have a fiscal year end other than December 31

d. are prepared just once a year

8 0
2 years ago
Other questions:
  • The fourth step of the marketing research approach is to __________.
    7·1 answer
  • Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of
    15·2 answers
  • In financial markets, firms and governments in search of funds to pay for their daily operations would be the:___________.
    12·1 answer
  • Mr. and Mrs. Yeager want to buy a home valued at $320,000. If they have 15% of this amount saved for a down payment, how much ha
    9·2 answers
  • PLS, I NEED THIS REALLY FAST!!!
    12·1 answer
  • Monty loaned his friend Ned $20,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remain
    12·1 answer
  • Turquoise Games relies on its employees to provide innovative ideas for new educational products. To foster intrinsic motivation
    10·1 answer
  • CHECKPOINT QUESTION
    15·1 answer
  • Organizational behavior clearly indicates that managers should be held accountable for task performance results but not job sati
    11·1 answer
  • There are significant differences between marketing internationally and marketing domestically. quizlet
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!