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
The number-one cash crop in the united states was marijuana prior to 1890.
Ede4ka [16]

<span>A. </span>True. Based on the history of marijuana and other cannabis products, Marijuana was the number-one cash crop in the united states prior to 1890. Marijuana is a depressant and does not contain nicotine. It is a schedule I controlled substance, according to U.S. federal regulations where there is approximately 77% of illicit drug users smoke marijuana. The use of marijuana for medicinal purposes is illegal in the U.S but legal in Canada. The "reverse tolerance" turns out to be due to variations in the manner in which the drug is ingested is one of the long-term effect of Marijuana.





8 0
3 years ago
Wilson, a marketing VP for Productivity Advertising, has been introducing concepts to help guide the marketing effort. A timeles
Ann [662]

Answer:

a communication task

Explanation:

Advertisement refers to the promotional multimedia messages designed and developed to make the products or services of a company known to its customers and potential customers.

The Defining Advertising Goals for Measured Advertising Results (DAGMAR) model states that an advertising goal involves a communication task that is specific and measurable over a specific period of time.

Basically, it is a timeless model that avails businesses the ability to set advertising objectives while also measuring the results of an advert campaign.

3 0
3 years ago
You are provided the following information:
Mama L [17]

Answer:

Total period costs= $12,500

Explanation:

iving the following information:

Salaries for assembly workers $32,000

Cost of materials $1,400

Lubricants for machines $680

Accountant’s salary $4,600

Factory supervisor’s salary $4,700

Sales commissions $3,200

Period costs are not directly tied to the production process.

Period costs:

Accountant’s salary $4,600

Factory supervisor’s salary $4,700

Sales commissions $3,200

Total period costs= 12,500

8 0
3 years ago
This is to inform you that I will be leaving work early today.
worty [1.4K]
wow thanks for sharing
5 0
3 years ago
What are the pros and cons of putting your money into your superannuation?
almond37 [142]
One way to make the most of your money is to put any you have left over into your super
For many people, this is a tax effective way to save for the long term.
3 0
3 years ago
Other questions:
  • Millie Co. completed its first year of operations on December 31, 2017, with pre-tax financial income of $400,000. Millie accrue
    15·1 answer
  • Dream Home Inc., a real estate developing company, was accounting for its long-term contracts using the completed contract metho
    7·1 answer
  • Bartlett Car Wash Co. is considering the purchase of a new facility. It would allow Bartlett to increase its net income by $53,0
    7·1 answer
  • Regal Corporation has a component that is a discontinued operation. The revenues and expenses of the component were $120,000 and
    13·1 answer
  • Pinto Corp. sells $300,000 of bonds to private investors. The bonds have a 4% coupon rate and interest is paid semiannually. The
    5·1 answer
  • Harrison, Inc. acquires 100% of the voting stock of Rhine Company on January 1, 2010, for $400,000 cash. A contingent payment of
    7·1 answer
  • ACNielsen conducts weekly surveys of television viewing throughout the United States. The ACNielsen statistical ratings indicate
    15·1 answer
  • Your division is considering two investment projects, each of which requires an up-front expenditure of $17 million. You estimat
    13·1 answer
  • Swifty Corporation estimates its sales at 190000 units in the first quarter and that sales will increase by 11000 units each qua
    11·1 answer
  • How is it different to approach someone with good news versus bad news? Answer in a few short sentences.
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!