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
Arisa [49]
3 years ago
5

Mr. G obtains a $70,000 loan today. He will repay the bank with equal payments to be made at the end of each 6-month period, or

twice each year, for 6 years. If the interest rate the bank charges is an 8% annual percentage rate, what amount of money will each payment be?
Business
1 answer:
g100num [7]3 years ago
3 0

Answer:

The amount of each payment after every 6 months will be $7,458

Explanation:

We need to find the amount of payment made every 6 months. For that we need to know the present value of the loan which is 70,000, the interest rate which is 8% but we will divide it by 2 because there are semiannual payments so interest rate will be 4%, after that we need to know the number of compounding periods, because the payments are semi annual and there are 6  years we will multiply 6 by 2 and get 12 which is our compounding periods. Because there are equal payments and no payment to be made at end the future value of the loan is 0. Now we will input the following data in a financial calculator.

PV= 70,000

I= 4

N= 12

Fv=0

Compute PMT=7,458

You might be interested in
An increase in the price of gasoline will reduce the amount of gasoline purchased. This is
nekit [7.7K]

Answer:

<h2>In this case,the answer is option is B. or a positive economic statement.</h2>

Explanation:

  • In Economics or any Social Science,a positive statement basically refers to an assertion,proposition,fact etc. that can be practically tested or evaluated by examining statistical or empirical data,information and/or facts.
  • In this instance,the statement given represents an economic relationship between two economic variables,that is,price of gasoline and its consumption level.
  • Therefore,this is a general statement that can be verified or evaluated by collecting and examining relevant numerical data or facts on the price of gasoline and its consumption level at various parts of the country.
  • Following the data or numerical fact collection on both price of gasoline and its consumption or purchase level,a basic correlation study can be conducted between the two concerned variables to determine whether the gasoline price has any practical impact on its consumption level.
5 0
3 years ago
8. In a car insurance policy, collision insurance covers
prisoha [69]
I am pretty sure that it's d, the cost of your car if it's stolen because its a car insurance

4 0
3 years ago
Read 2 more answers
The ________ section details the tactics the firm will use to develop, market, and sell the offering.a. executive summarySelect
r-ruslan [8.4K]

Answer:

The correct answer is letter "B": strategy.

Explanation:

The strategy section of a business plan highlights all the techniques the firm could carry out to produce, publish, and sell its goods or services. Besides, in this section, the main problems a company might face during operations are exposed and the methods specialists will implement to attempt to figure out those situations.

3 0
4 years ago
Prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted eac
bekas [8.4K]

Answer:

Answer for the question:

Prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. (Round "Direct labor time per unit (hours)" and "Direct labor cost per hour" answers to 2 decimal places.)

is explained in the attachment.

Explanation:

Download pdf
7 0
4 years ago
Mars Inc. produces 100,000 boxes of Snickers bars which sell for $4 a box. If variable costs are $3 per box, and it has $150,000
Maru [420]

Answer:

keep producing as variable costs are being met.

Explanation:

A firm should shutdown in the short run if price is less than average variable cost. But since price is greater than the average variable cost, the firm should keep producing in the short run.

I hope my answer helps you

6 0
3 years ago
Other questions:
  • How many airports are privatised in USA?
    14·1 answer
  • Donaldson's purchased some property for $1.2 million, paid 25 percent down in cash, and financed the balance for 12 years at 7.2
    5·1 answer
  • Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one depa
    14·1 answer
  • On January 1, 2021, Blair Company sold $800,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December
    10·1 answer
  • The difference between representative money and fiat money is that?
    11·1 answer
  • The new classical critique of activist fiscal policy is theoretically different from the crowding-out critique. Crowding-out occ
    6·1 answer
  • What occurs when the goods available are too few to satisfy individuals desire
    7·1 answer
  • What is accountancy​
    11·2 answers
  • When Alice started working, she has decided to deposit $250 a pay check into a savings account that earns an interest of 1% per
    5·1 answer
  • Discuss and develop a theoretical network architecture for a small business in the area that wishes to expand into new facilitie
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!