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BigorU [14]
3 years ago
6

Sarah takes out a loan today for $26,000 at an interest rate of 2 percent a year. She plans to repay the loan after 5 years. How

much will he have to pay?
Sarah will have to pay:__________
Business
1 answer:
Trava [24]3 years ago
3 0

Answer:

$28,706.10

Explanation:

The computation of the amount of pay is shown below:

Here we have to find the future value by using the following formula

Future value = Present value × (1 + interest rate)^number of years

= $26,000 × (1 + 0.02)^5

= $28,706.10

We simply applied the above formula so that the amount of pay could be come and the same is to be considered

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3 0
3 years ago
Suppose you purchase five put contracts on Testaburger Co. The strike price is $45, and the premium is $3. If, at expiration, th
andriy [413]

Answer:

3000

1500

Explanation:

For each of the answers in this question I have added the formulas to solve them in the attachment below

1.

(45-39)*5*100

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3 years ago
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3 years ago
You purchased a new smart-phone. The cost to you is $39.95 per month for 2 years. Warranty coverage is $12.99 per month. What is
Kobotan [32]

Answer:

The total cost of the phone is $1,270.56

Explanation:

The total cost of the phone is computed as:

Total cost = Cost of phone for 2 years + Cost of warranty coverage for 2 years

where

Firstly, the cost of phone for 2 years is computed as:

Cost of phone =( For first year) Per month Cost × 12 months  +( For second year ) Per month Cost × 12 months

= $39.95 × 12 + $39.95 × 12

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Cost of warranty = ( For first year) Per month Cost × 12 months  +( For second year ) Per month Cost × 12 months

= $12.99 × 12 + $12.99 × 12

= 155.88 + $155.88

= $311.76

Therefore, the total cost would be:

Total cost = $958. 8 + $311.76

= $1,270.56

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3 years ago
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