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Oxana [17]
3 years ago
8

An ATM Next to Your Apartment Building. Suppose an ATM connected to your own bank is installed right next to your apartment buil

ding.a. How will this affect the average amount of currency you carry around with​ you?
Business
1 answer:
kotegsom [21]3 years ago
7 0
It will decrease since you’ll have better access.
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5 0
3 years ago
The borrower in a $238,000 loan makes interest payments at the end of each six months for eight years. These are computed using
yanalaym [24]

Answer:

D = 7980.55

Explanation:

Since the borrower pays in 6 months wich is half a year, we calculate the semi-annual rate = \frac{Annual rate of intrest}{Number of months}

= \frac{0.042}{12}

= 0.0035 = 0.35%

The effective semi-annual rate is, [(0.0035)⁶- 1] = 0.02118461

\frac{D[(1.02118461)^{16}  - 1]}{1.02118461) - 1} + \frac{D[(1.02118461)^{10}  - 1]}{1.02118461) - 1} = 238000

\frac{D(1.398518 - 1)}{0.02118461} + \frac{D(1.233226 - 1)}{0.02118461} = 238000

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Therefore D = 7980.55

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2 years ago
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