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Vinil7 [7]
3 years ago
13

Assume you graduate from college with ​$26 comma 000 in student loans. If your interest rate is fixed at 4.70​% APR with monthly

compounding and you repay the loans over a 10​-year ​period, what will be your monthly​ payment?

Business
1 answer:
mylen [45]3 years ago
3 0

Answer:

$271.97

Explanation:

For this question we use the PMT i.e monthly payment that is presented on the attached spreadsheet. Kindly find it below:

Data provided in the question

Given that,  

Present value = $30,000

Future value = $0

Rate of interest = 4.70% ÷ 12 months = 0.391666%

NPER = 10 years × 12 months = 120 months

The formula is shown below:

= PMT(Rate;NPER;-PV;FV;type)

The present value come in negative

So, after solving this, the monthly payment is $271.97

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Answer:

Paired Comparison

Explanation:

Paired Comparison is a type of job evaluation method in which individual jobs are evaluated in relation to every other job, based on a ranking system, and an overall score is given for each job, determining the highest-valued job to the lowest-valued job. Here in paired comparison method an employee's work is basically evaluated by looking to every job being performed in that organisation, then after doing the comparison the relative scores are assigned to the job which needs to be evaluated. This method is different to the methods which most organisation use where jobs are evaluated specifically on the basis of your skills, performance and your knowledge. One of the drawback which this method has is that the employees start comparing themselves with other employees, not their job but their personalities and knowledge etc. which in turn creates jealousy factor which in return can decrease the overall performance of organisation.

6 0
3 years ago
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gayaneshka [121]

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6 0
4 years ago
Davis and Thompson have earnings of $850 each. The social security tax rate is 6% and the Medicare tax rate is 1.5%. Assuming th
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8 0
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erma4kov [3.2K]

Answer:

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Explanation:

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To learn more about it, refer

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4 years ago
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