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dmitriy555 [2]
3 years ago
10

You just received a loan offer from friendly loans. the company is offering you $5,000 at 9.3 percent interest. the monthly paym

ent is only $100. if you accept this offer, how long will it take you to pay off the loan? 5.84 years 5.29 years 6.80 years 6.33 years 7.59 years
Business
1 answer:
lisabon 2012 [21]3 years ago
4 0
EMI= (P*R*(1+R)^N)/((1+R)N-1)

<span>P= Loan amount= 5000<span>Rate=9.3%= 9.3/12 = .775%  = .00775<span>Time= xEMI= 100 <span>EMI= (P*R*(1+R)^N)/((1+R)N-1)<span>100 = 5000*.00775(1.00775)x / 1.00775x-1</span>N= 63.5 months= 5.29 years</span></span></span></span>
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3 years ago
Smith Corporation makes and sells a single product called a Pod. Each Pod requires 2.4 direct labor-hours at $10.60 per direct l
kramer

Answer:

$585,120

Explanation:

The computation of Budgeted direct labor costs is shown below:-

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dem82 [27]

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