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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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Kipish [7]

Answer:

1) Lower interest rate

2) Devaluation of Local Currency Risk

Explanation:

1) The main reason why so many East Asian companies and banks borrow dollars, yen, and Deutsche marks instead of their local currencies to finance their operations is that the loans/finance obtained in the local currencies (from local financial institutions i.e. commercial banks, etc) carry a higher interest rate making the debt more costly than the foreign currency debt.

2) The major risk those companies are exposing themselves to is the devaluation risk of their respective local currencies against the foreign currencies, which eventually makes the foreign currency loans higher in terms of payment in the local currency.

3 0
4 years ago
To spur trade, Cormoran, Brithea, and Asmakush decided on economic integration where there were no barriers to trade between the
LekaFEV [45]

Answer:

Common market.

Explanation:

In order to spur trade, Cormoran, Brithea, and Asmakush decided on economic integration where there were no barriers to trade between the three countries, they agreed on a common external trade policy, and allowed factors of production to move freely between the three countries. In short, the three countries formed a common market.

A common market can be defined as a formal agreement between a group of countries in which they adopt a common external tariff on products imported from countries outside the union. It is simply a type of market involving the formal organization of countries who have collectively agree to trade freely with one another with eliminated internal tariffs but imposes a common external tariff on trade with other countries.

Common market was founded in 1958 and was made up of countries like Luxembourg, France, Belgium, Netherlands, West Germany and Italy.

The main purpose and advantage of the common market is that, it avails member countries the opportunity to move goods, people, services and capital freely.

4 0
3 years ago
HELP ASAP NEED THIS
KonstantinChe [14]

Answer:

Shirly would be suitable for the following races; law, public safety and security.

Explanation:

the careers of law, public safety and security, are those that describe the characteristics that Shirly presented in his evaluation, since they reflect the qualities of justice, security and good physical condition to face risk situations, and that all of them They are aimed at the common good of the people around them.

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3 years ago
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Ben and Chris combined their love of football with a business venture. They purchased a small portable cart and began selling fo
wolverine [178]

Answer: Option C

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In the given case, the business of Ben and Chris slowed down due to the economic breakdown in the country. These factors are inescapable and affect all the businesses in the economy.

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4 0
3 years ago
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Assoli18 [71]

Answer:

Word of Mouth.

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As Magnira Inc. is trying to promote its cosmetics. It offers discounts to customers who post about its products' benefits in their social media accounts. This enables others to know about the company's products. In this case, customers of Magnira Inc. are involved in word of mouth. Word of mouth is considered as more authentic, valid and reliable source of information for the customers. Customers truly believe that its more genuine kind of information which is coming from the customers not the company itself, therefore, customer pay more attention to it and give more weightage to it. Customers do not believe much on the advertisement because they know that ads are being aired by the company itself and it is the paid from but word of mouth are the true and genuine comments and feedback of the customers who have used the brand by themselves.

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