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Lynna [10]
3 years ago
14

Jackson has a loan that requires a $16,700 lump sum payment at the end of four years. The interest rate on the loan is 5%, compo

unded annually. How much did Jackson borrow today
Business
1 answer:
luda_lava [24]3 years ago
4 0

Answer:

$13,739.13

Explanation:

To determine the amount that Jackson borrowed today, we have to find the present value of $16,700

PV = FV (1 + r)^-n

FV = Future value

P = Present value

R = interest rate

N = number of years

$16,700 (1.05)^-4 = $13,739.13

I hope my answer helps you

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A local Best Buy sells 8 times as many iPods as Sears. The difference between their sales is 490 iPods. How many iPods did each
defon

Answer:

  • <u>Best Buy sells 560 iPods</u>
  • <u>Sears sells 70 iPods</u>

Explanation:

You may set a system of equations.

<u>1. Name the variables: </u>

  • B= <em>number of iPods</em> sold by <em>Best Buy</em>
  • S =<em> number of iPods</em> sold by <em>Sears</em>

<u>2. Translate every verbal statement into a mathematical expression</u>

a) <em>A local Best Buy sells 8 times as many iPods as Sears</em>.

  • B = 8S

b)  <em>The difference between their sales is 490 iPods</em>.

  • B - S = 490

<u>3. Solve the system of equations</u>

a) Substitute B = 8S into the second equation

  • 8S - S = 490

b) Add like terms

  • 7S = 490

c) Divide both sides by 7

  • S = 70

d) Substitue S = 70 into B = 8S

  • B = 8(70) = 560

<u>Solution:</u>

  • Best Buy sells 560 iPods
  • Sears sells 70 iPods
3 0
3 years ago
Suppose Robina Bank receives a deposit of $53,589 and the reserve requirement is 3%. Answer the questions using this information
g100num [7]

A) 2,679.45
B) 50,909.55
C) 1,071,780
Explanation:
The bank will keep 5% of the deposit:
53,589 x 5% = 2,679.45‬
Then, it will have in excess the remainder:
53,589 - 2,679.45 = 50,909.55‬
This amount can be used for another.
This makes a hypothetical loop. The borrower can also deposit and creating the chance or another loan and so on. The cycle repeats indefinitely
The maximum amount of new money can be determinate as follow:

53,589 / 0.05 = 1,071,780
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3 years ago
Crow manufacturers, inc. projected sales of 52,149 bicycles for 2012. the estimated january 1, 2012, inventory is 5,002 units, a
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The projected sales ar 52,149 units of bikes for 2012. On hand at Jan 1, 2012 are 5002 units. So 52,149-5002= 47137+6831= 53,978 bikes to make in 2012 in other words, the net production to make the 52149 is 47137 plus the desired inventory at the end of 2012 totals the 53,978.
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3 years ago
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When product designers use computer-aided design (CAD) software to produce technical drawings in three dimensions, they are using: Utility software
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3 years ago
Abby received requests from three families to babysit a toddler for four hours on Friday night. She can only babysit for one of
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The answer is $40 because that is her final pay

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