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rosijanka [135]
3 years ago
5

Prescott Bank offers you a five-year loan for $55,000 at an annual interest rate of 7.25 percent. What will your annual loan pay

ment be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
Studentka2010 [4]3 years ago
6 0

Answer:

Annual loan payment = $13,146.78

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  

Monthly annuity factor  

=( 1-(1+r)^(-n))/r  

r- Monthly interest rate (r)  

= 7.25%/12= 0.604 %  

n- Number of months ( n) in 5 years  

= 12* 6 = 60  

Annuity factor  

= ( 1- (1.00604)^(-60)/0.00604= 50.2024

Monthly installment= 55,000 /50.2024 = $1,095.56

 Monthly installment = $1,095.56

Annual loan payment = monthly installment × 12

Annual loan payment =$1,095.56 ×12=13,146.78

Annual loan payment = $13,146.78

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In economics, the forces of___________________and__________________ determine the ____________________ in the market. Group of a
ASHA 777 [7]

Answer:

Supply and demand and price

Explanation:

In economics, the forces of supply and demand determine the price in the market.

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2 years ago
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Outline the differences between chain stores and departmental stores.​
dlinn [17]

Answer:

For chain stores, prices are uniform in all branches while for departmental stores, each department sets its own price. Chain stores sell similar goods while departmental stores deal with different line of goods.

Explanation:

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3 years ago
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Northwestern Lumber Products currently has 17,500 shares of stock outstanding. Patricia, the financial manager, is considering i
SpyIntel [72]

Answer:

<em>15,101.15 shares</em>

Explanation:

<em>Northwestern Lumber products has =17,500 shares of stock</em>

<em>The Manager Patricia considers issuing  $135,000 of debt, at an interest rate of 6.6%</em>

<em>Let us find how many shares of stock will be outstanding once the debt is issued,</em>

<em>Given that </em>

<em>$65,000/17,500 =  ($65,000 − 135,000(.066))/X </em>

<em>Then X = 15,101.15 shares</em>

5 0
3 years ago
Read the following sentence, and determine which technique is most applicable to improve its readability.
Sunny_sXe [5.5K]

Answer:

The correct option is A. Using numbered or bulleted lists.

Explanation:

EXPLANATION

A. Using numbered or bulleted lists

<em>Use numbered lists when you're explaining instructions that need to be performed in sequence. In situations where numbers are not essential use bullets, especially in business related documents</em>

<em>Bulleted lists are used to make items stand out from the text without implying order of importance. They may include punctuation marks like commas and semicolons</em>

This is the correct answer, use of numbered list. We were told in the question to follow a particular order to fill out an expense report. You begin by writing your name and end by obtaining the supervisor’s signature

B. Using graphic techniques

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This option is wrong. The expense report is not a new concept

C. Developing parallelism for balance

Parallelism in literature is the repetition of a word or phrase within a sentence or group of sentences. It is used to help organize ideas, but also to make the ideas memorable.  

This option is also wrong

6 0
3 years ago
WHICH OF THE FOLLOWING WILL CAUSE NO CHANGE IN PRODUCER SURPLUS? A) IMPOSITION OF A NON BINDING PRICE CEILING IN THE MARKET. B)
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Price Ceiling is  when a government impose a price limit over a specific product

Non-Binding Price ceiling is if that price limit that imposed to the product is still <em><u>higher than market equilibrium ,</u></em> which won't do anything to producer's surplus
5 0
3 years ago
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