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I am Lyosha [343]
3 years ago
12

If the house you are looking at currently costs ​$160 comma 000 and is expected to increase in value each year at a rate of 3 ​p

ercent, what will the value of the house be when you retire in 6 ​years?
Business
1 answer:
AlladinOne [14]3 years ago
3 0

Answer:

A = $ 191 048.36

Explanation:

In this case of <em>rate over rate</em>, in other words, the continous house valuation. The compound interest can be applied as follows:

A = P(1+\frac{r}{n}) ^{nt} eq 1

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

By replacing the values from the exercise into the equation I, we have:

A = 160 000(1+\frac{0.03}{1}) ^{1*6}

A = $ 191 048.36

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Based on Committee of Sponsoring Organizations (COSO) framework, there are 5 interrelated components of internal control, which are: Control environment, Risk assessment, Control activities, Information and communication and Monitoring.

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If the interest rates of loans are high, capital demand will be reduced but in the event that interest rates are low, capital demand is high or increases.

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3 years ago
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tatiyna
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