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d1i1m1o1n [39]
3 years ago
12

Another bank is also offering favorable terms, so Raphael decides to take a loan of $15,000 from this bank. He signs the loan co

ntract at 13.00% compounded daily for three months. Based on a 365-day year, what is the total amount that Raphael 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:
Colt1911 [192]3 years ago
5 0

Answer:

$15,495.41

Explanation:

Given that,

Loan amount = $15,000

Annual Interest rate = 13%

Daily interest rate = Annual Interest rate ÷ 365

                              = 13% ÷ 365

                              = 0.035616%

Period of loan = 3 months

Number of days:

= 365 × (3 ÷ 12)

= 91.25 days

Total amount that Raphael owes the bank at the end of the loan’s term:

= P(1 + r)^n

= 15,000 × (1 + 0.035616%)^91.25

= 15,000 × (1.00035616)^91.25

= 15,000 × 1.0330275

= $15,495.41

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Answer:

Country x

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Labor force participation rate is the labor force divided by the population size.

= 64%

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The college majors that lead to the highest median earnings for both men and women tend to be those that
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Question 30.... are more quantitative and analytical. 
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Suppose there is a simple one good economy that only produces spinning rims. In 2015, the economy was able to produce 1 million
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Explanation:

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Answer:

Maximum price to be paid for the stock = $12.43

Explanation:

The Dividend Valuation Model is a technique used to value the worth of an asset. According to this model, the worth of an asset is the sum of the present values of its future cash flows discounted at the required rate of return.

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1                                          8  ×1.15^(-1)  

2                                           4 ×  1.15^(-2)  

3.                                              2 × 1.15^(-3)    

4                                                  2 × 1.15^(-4)    

PV of dividend =   (8 ×1.15^-1) +  (4 × 1.15^-2)  + (2 × 1.15^ -3) + (2× 1.15^-4) = 12.439

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The quantity theory is a framework to understand price changes in relation to the supply of money in an economy.

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