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kolbaska11 [484]
3 years ago
8

You are thinking about buying a piece of art that costs $ 20 comma 000. The art dealer is proposing the following​ deal: He will

lend you the​ money, and you will repay the loan by making the same payment every two years for the next 30 years​ (i.e., a total of 15 ​payments). If the interest rate is 7 % per​ year, how much will you have to pay every two​ years?
Business
1 answer:
Irina-Kira [14]3 years ago
3 0

Answer:

Explanation:

This is an annuity question. You can solve this using a financial calculator with the following inputs;

Present value ; PV = -20,000

Duration; N = 15 payments

2 year interest rate; I = [(1.07)^2 ] -1 = 14.49%

One-time future cashflow; FV = 0

Then compute recurring payment ; CPT PMT = $3,336.28

Therefore, you'll pay $3,336.28 every 2 years

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a. micromarketing

Explanation:

Micromarketing -

It is the strategy of marketing , where the advertising is done on the basis of the location and the taste of the people , is referred to as micromarketing .

In this method ,

The ares are bifurcated into small regions , and for each and every region different method of marketing is used , depending on the people and location .

This enables to market the goods and services in a better manner .

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The graph shows excess demand. A graph titled Excess supply has quantity on the x-axis and price on the y-axis. A line with posi
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Answer:

The price of goods needs to be increased.

Explanation:

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The best way to solve excess demand is to raise the price, in order to reach equilibrium. Once in equilibrium, the price will coordinate the quantity supplied and the quantity demanded so that they're roughly equal.

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MC Qu. 114 Lowden Company has an overhead application... Lowden Company has an overhead application rate of 155% and allocates o
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Answer:

the  overhead amount recorded is $139,500

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The computation of the overhead amount recorded is shown below:

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We simply applied the above formula so that the correct value could come

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Advantages of installment paying
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Answer:Advantages of installment payment for your big-ticket spending

Installment allows you to spend smart. If you have the funds, you can always purchase and pay in full. ...

You can make unexpected purchases or payments without putting a dent on your budget. ...

You get to track your finances better. ...

It enables you to stretch the cost of your purchases over a manageable period of time

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