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Andrej [43]
3 years ago
12

A homeowner has a ten‑year home-improvement loan for $36,875. What are the annual payments required by the loan if the annual ra

te of interest is 4 percent

Business
1 answer:
neonofarm [45]3 years ago
4 0

Answer:

$4,546.35

Explanation:

We use the PMT formula that is to be presented in the attachment. kindly find out below:

Provided that,  

Present value = $36,875

Future value or Face value = $0

Rate = 4%

NPER = 10 years

The formula is shown below:  

= -PMT(Rate;NPER;PV;FV;type)  

So, after solving this, the annual payment required is $4,546.35

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Explanation: In simple words, seed capital refers to the funding under which a venture capitalist invests in a project that involves introducing a completely new product or service.

Usually the projects that involves funding of seed capital have no physical existence or assets. These projects are just in from of idea and the venture capitalist feels that it can be a success so he invest in it. Generally, under such projects venture capitalist takes majority of capital in his hold for fully enjoying the potential benefit.

 

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3 years ago
Prior to adjustment at August 31, Salary Expense has a debit balance of $322,200. Salaries owed but not paid as of the same date
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Explanation:

The Journal entry is shown below:-

a. Salary Expense Dr,             $2,550

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3 years ago
Taxes that have wealthy people pay a higher rate of tax than average or poor people are called __________.
Furkat [3]
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3 years ago
Wild Trails Inc., an adventure resort in Texas, has 500 shares of outstanding common stock and has not issued any preferred stoc
erma4kov [3.2K]

Answer:

$55

Explanation:

The earnings per share indicate the profit per outstanding stocks and it is calculated by dividing the net income by the number of shares of outstanding stocks. According to this,

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3 years ago
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