Answer:
Monthly payment = $469.701
Explanation:
<em>Loan Amortization: A loan repayment method structured such that a series of equal periodic installments will be paid for certain number of periods to offset both the loan principal amount and the accrued interest. </em>
The monthly equal installment is calculated as follows:
Monthly equal installment= Loan amount/Monthly annuity factor
Loan amount = 20,000
Monthly annuity factor =
=( 1-(1+r)^(-n))/r
r- Monthly interest rate (r)
= 6/12= 0.5%
n- Number of months ( n) = 20 × 4 = 48
Annuity factor
= ( 1- (1.005)^(-48)/0.005= 42.5803
Monthly installment= 20,000 /42.5803 = $469.701
Monthly installment = $469.701
Monthly payment = $469.701
Answer:
11.68 years
Explanation:
For computing the number of years first we have to applied the NPER formula i.e to be shown in the attachment below:
Given that,
Present value = $11,000
Future value = $19,000
Rate of interest = 6.5%
PMT = $0
The formula is shown below:
= NPER(Rate;PMT;-PV;FV;type)
The present value come in negative
So, after applying the above formula, the number of years is 8.68
Now after 3 years, it would be
= 8.68 + 3
= 11.68 years
D. Know ahead of time what the teacher expects of you.
The best fit for Suri will be MARKETING.
To be an effective marketer, one needs certain skills which are crucial to success in the marketing field. These skills include: good interpersonal relationship, good writing skills, great creativity and expression, good team player, etc. Suri has these qualities; the qualities will make her a good marketer.
Answer:
1 . b
2. 84.03 euro
3. 135.28 euros
4. 177.22 dollars
5. 0.77
6. 0.154
Explanation:
1. Dollar depreciated
2. 1 Euro = 1.19 dollars
So therefore
1 dollar = 1 euro/1.19
So 100 dollars = 100 * (1/1.19) = 84.03 Euro.
3. A = p * (1 + (r/n))^(nt)
Where p = principal = 84.03
A = accrued amount after maturity
r = rate = 10%
n = number of compounding = yearly = 1
t = time of maturity = 5
So therefore:
A = 84.03 (1 +0.1)^5
A = 135.28 Euro
4. Convert 135.28 euros to dollars after 5 years
Since 1 Euro = 1.31 dollars
So therefore 135.28Euro will be 1358.28 * 1.31 = 177.22 dollars
5 - (final value/initial value) - 1 )
Where final value = 177.22
Initial value = 100
So therefore [ (177.22/100) - 1] = 0.77
6 - average annual return = sum of earning after maturity / time of maturity
So therefore : 0.77/ 5 = 0.154
