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Free_Kalibri [48]
3 years ago
15

A bank agrees to lend via simple loan $100 today to Thomas. The agreement is based on that the yearly interest rate is 15%. If T

homas must pay back the loan in 10 years, how much will he be required to reimburse to the bank?
Business
1 answer:
Ede4ka [16]3 years ago
7 0

Answer:

$404,55 (cumulative) or $250 (american)

Explanation:

This explanation considers a cumulative interest rate in the simplest way. And american amortization system. Consider that there is also French and German systems which works differently depending on the way the loan reimbursed

Cummulative Interest Rate:

Consider this:

If Thomas had to return it in one year he would have to return $115 ($100+15%) which is equal to 100*(1+0.15)

Now, at the begining of the second year, his debt is $115, and at the end its $115+15% = 132,25.  Which is equal 100*(1+0.15)*(1+0.15), this is equivalent to 100*(1+0.15)^{2}

The general formula for cummulative interest is C(1+i)^{n}

Where

C = is the loan amount [in this case: 100]

i = is the interest rate [in this case: 0.15]

n = is the number of periods until [in this case: 10]

American System

The american system is quite straight forward:

Thomas should pay $15 every year for 10 years, and with the last payment he should pay $115.

This is because in this system Thomas returns the capital (the amount of the loan) at the end; and each year he only pays the interest .

$15*10 + $100 = $250

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In a planned economy, prices of commodities are controlled by _________.
GalinKa [24]

The correct answer is C. The government

Explanation:

The key feature of a planned economy is the strong influence and control of government in the economy. Indeed, in a planned economy it is the government the entity that decides on trade and production, this includes the prices of goods and the types of products that should be manufactured. Moreover, this does not occur in market economies because in these customers, produces and the law of supply/demand determine factors of the economy. According to this, in a planned economy prices are controlled by government.

4 0
3 years ago
Before Puya's job interview, she wants to ensure that her social media presence is impressive to the employer. What should she d
saveliy_v [14]

In other to ensure that her social media is impressive to the employer, Puya has to do the following:

  • She has to remove all questionable online content that are going to make her appear like she is not a professional  
  • She has to try to set up a professional page on social media.
  • She has to be deliberate and selective about the people that she has on her friends list.

Maintaining a good social media presence is of great importance. Employers would not want to employ a person with questionable character or abnormal behavior as a worker in their company.

Read more on brainly.com/question/8293640?referrer=searchResults

8 0
2 years ago
Gwinnett Barbecue Sauce Corporation manufactures a specialty barbecue sauce. Gwinnett has the capacity to manufacture and sell 1
Gennadij [26K]

Answer:

b. decrease by $1,000

Explanation:

There is an option below the question ask for details

For computing the profit or loss, first we have to determine the variable cost per unit which is shown below:

= Total variable cost ÷ Number of cases sold

= $144,000 ÷ 9,000 cases

= $16 per cases

The total variable cost would be

= $126,000 + $18,000

= $144,000

And, profit per case is $15

So, the loss per case would be

= $15 per case - $16 per case

= -$1 per case

So, the total loss would be

= 1,000 cases × $1

= $1,000 decrease

7 0
3 years ago
​Barrett, Inc. reports the following information for the year ended December​ 31: Beginning Finished Goods Inventory 70 units Un
Dmitry_Shevchenko [17]

Answer:

Operating Income 20,600

Explanation:

First Step will be to calculate the contribution of the begining inventory and the contribution of the untis produced in this period:

BEGINNING INVENTORY

70 units at $150 = $10,500

cost of BI                 $3,600

Contribution Begining Inventory         $6,900

get the production of this year contribution

Sales Units              150

Direct Materials 25

Direct Labour     10

Variable MO       15

Variable S&A       6

Total Variable           56

Contribution            94

Unit produced 450

Contribution Produced units 42300

Second, the operating income:

     Contribution Begining Inventory         $6,900

     + Contribution Produced units             42,300

                                    Total contribution = 49,200

 Fixed Cost

fixed MO 15,600

fixed S&A 13,000

                                       Total Fixed Cost    28,600

                                     Operating Income 20,600

4 0
3 years ago
PLEASEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE HELPPPPPPPPPPPP 20 pts
jeka57 [31]

Answer:

Is there any multiple choice?

5 0
3 years ago
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