Answer:
PV= $1,173.44
Explanation:
Giving the following information:
your tenant has agreed to pay $150 per month. There are eight months left on the lease, the appropriate interest rate is 6%, compounded monthly.
<u>To calculate the net present value, first, we need to calculate the final value and then use the present value formula.</u>
FV= {A*[(1+i)^n-1]}/i
A= annual pay= 150
i=0.06/12= 0.005
n=8
FV= {140[(1.005^8)-1]}/0.005= 1,221.21
Now, we calculate the present value:
PV= FV/(1+i)^n
PV= 1,221.21/1.005^8= $1,173.44
Answer: B. . The business address can be used for Customer Identification purposes and the account can be opened
Explanation:
From the question, we are told that a new customer wants to open an account at a firm and that when he was asked for his street address, he said that he will be moving soon to a different apartment complex and wants to use his business address.
Since the customer will be moving to a new apartment and therefore may not yet know his street address, the customer can use his business address for identification purpose. Therefore, the customer can open the account.
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Answer: "statuses" .
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