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
eimsori [14]
3 years ago
8

You have borrowed $28,000 at an interest rate of 12% compounded annually. Equal payments will be made over a four-year period, w

ith each payment made at the end of the corresponding year. What is the amount of the annual payment foe the second year?
Business
1 answer:
Sloan [31]3 years ago
6 0

Answer:

A = 28000 [\frac{0.12 (1.12)^4}{(1.12)^4 -1}]

A = 28000 [\frac{0.12*1.574}{1.574-1}]

A=28000*0.3292 = 9218.564

So then the annual pay would be $ 9218.564 for this case

Explanation:

For this question we can use the Equivalent annual value (A) given by the following expression:

A = PV [\frac{i (1+i)^t}{(1+i)^t -1}]

Where PV = 28000 represent the pesent value

i = 0.12 since the rate is yearly

t = 4 since we have 4 years to pay

So then we have everything to replace and we got:

A = 28000 [\frac{0.12 (1.12)^4}{(1.12)^4 -1}]

A = 28000 [\frac{0.12*1.574}{1.574-1}]

A=28000*0.3292 = 9218.564

So then the annual pay would be $ 9218.564 for this case

And this amount would be paid each year in order to pay all the money after 4 years.

You might be interested in
The concept by which pay is distributed based on work produced rather than hours worked was called _______________.
Andrei [34K]
The concept by which pay is distributed based on work produced rather than hours worked was called piece work. <span>Piece </span>work<span>, or output </span>work<span> as it is sometimes </span>called<span>, is </span>the concept<span> that workers are </span>paid<span> for </span>work produced rather than<span> the number of </span>hours worked<span>. Hope this answers the question. Have a nice day.</span>
7 0
3 years ago
Marcie frequently requests meetings between her team and counterparts in portland. she often spots issues that will affect both
Lesechka [4]
<span>Marcie is being a leader, but is playing a task role for her team. She is concentrating on what the team needs to get the job or tasks completed. Her behavior is a proactive approach to keep this process running smoothly with no surprises.</span>
6 0
2 years ago
What is the best example of a short-run adjustment?
k0ka [10]

Answer:

Short-run economics primarily affect price.

Explanation:

When demand decreases for any reason, prices go down in the short term. When demand spikes, prices go up. ... Long-run adjustments occur when sustained increases or decreases in demand cause a business to change its practices and can affect both price and the means of production.

8 0
2 years ago
Read 2 more answers
Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 3.5 percent;
WARRIOR [948]

Answer:

20 years (scenario A) and 16 years (scenario B)

Explanation:

The real GDP will double in "n" number of years, with "n" estimated by interpolation using the formula below.

current GDP * (1+Growth Rate)^{n} = 2 * current GDP

In the solutions below, we assumed current GDP to be 1, and as a result, the GDP will double to 2.

Scenario A

1 * (1+0.35)^{n} =2

When you substitute 20 for "n" in the left hand side (LHS) of the equation, you will arrive at 1.99 which is approximately equal to 2. Any number below 20 will result in a number less than 2.

Thus, with an average annual real GDP growth rate of 3.5%, real GDP will double in about 20 years.

Scenario B

1 * (1+0.45)^{n} =2

When you substitute 16 for "n" in the left hand side (LHS) of the equation, you will arrive at 2.02 which is approximately equal to 2. Any number below 16 will result in a number less than 2.

Thus, with an average annual real GDP growth rate of 4.5%, real GDP will double in about 16 years.

6 0
3 years ago
Which of the following is the type of logical database model that treats data as if they were stored in two-dimensional tables?
Luden [163]

Answer: (C) Relational DBMS

Explanation:

 The relational database management system (DBMS) is specifically designed for the purpose of relational databases by using the concept database management system.

 The relational database is basically refers to the DBMS which store the data or information in the form of structured format by using various columns and rows.

The relational DBMS makes more easy to access the values which is more specific in the database management system.

Therefore, the relational DBMS is one of the type of logical database system that basically treats the data in the form of dimensional table

4 0
3 years ago
Read 2 more answers
Other questions:
  • Vulnerability assessment is a curvey of a system to identify:_____.
    15·2 answers
  • Which of the following would cause a shift in the demand curve loading from point A to point B?
    7·1 answer
  • Total revenue is defined as a. price minus quantity sold. b. price divided by quantity sold. c. price multiplied by quantity sol
    7·1 answer
  • Pharoah Company purchased a new machine on October 1, 2019, at a cost of $138,000. The company estimated that the machine will h
    13·1 answer
  • he Steel Mill is currently operating at 84 percent of capacity. Annual sales are $28,400 and net income is $2,250. The firm has
    8·1 answer
  • Characteristics of customer _____ include customer retention and loyalty, customers’ willingness to make an effort to do busines
    9·1 answer
  • In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2017 were
    13·1 answer
  • Tharaldson Corporation makes a product with the following standard costs:Standard Quantity or Hours Standard Price or Rate Stand
    11·1 answer
  • The following transactions occurred during December 31, 2021, for the Microchip Company. On October 1, 2021, Microchip lent $115
    12·1 answer
  • Francis Real Estate Company has the following account balances at December 31, the end of its fiscal year. Debit Credit Commissi
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!