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Anna [14]
3 years ago
11

Another bank is also offering favorable terms, so Rahul decides to take a loan of $14,000 from this bank. He signs the loan cont

ract at 9% compounded daily for four months. Based on a 365-day year, what is the total amount that Rahul owes the bank at the end of the loan’s term? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.)
Business
1 answer:
nikklg [1K]3 years ago
3 0

Answer: $14,426.43

Explanation:

At the end of 4 months and assuming a  12 months and 365 days in a year, the formula to be used to calculate how much Rahul owes is;

We use the formula:

Amount owed = Present Value ( 1 + rate/365 ) ^ 365 * time period

Amount owed = 14,000 * ( 1 + 0.09/365 ) ^ (365 *4/12 )

Amount owed  = $14,426.43

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Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and sna
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Floor ready shipment

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The fictional country of Alpetra increases the income tax rate so that tax revenues increase by $50 million. If GDP, consumption
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There is no change in investment for Apletra.

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Money serves as a good store of value except when an economy experiences a period of _____.
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3 years ago
Countess Corp. is expected to pay an annual dividend of $5.29 on its common stock in one year. The current stock price is $79.83
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Answer:

10.03%

Explanation:

Using the dividend discount formula, find the cost of equity; r

r = \frac{D1}{P0} +g

whereby,

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P0 = Current price of the stock = 79.83

g = growth rate of dividends = 3.40% or 0.034 as a decimal

Next, plug in the numbers to the formula above;

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Therefore, the company's cost of equity is 10.03%

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