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wel
3 years ago
13

You borrow $8000 to buy a car, at an annual interest rate of 6%. Assume interest is compounded continuously. You make monthly pa

yments (approximate as continuous payments).
How much should you pay each month to pay off the loan in 3 years?
Business
1 answer:
hram777 [196]3 years ago
8 0

Answer:

We should pay $243.3 each month to pay of the loan.

Explanation

The present value of the loan is 8,000, the number of compounding periods are (3*12) =36 because payment is going to be made monthly for 3 years, the future value of the loan is 0 as there will be no lump sum payment at the end of the loan and equal payments each month, the monthly interest rate is 6%/12= 0.5%. We input these 4 values to find the monthly payment.

PV= 8,000

FV=0

N=36

I=0.5

Compute PMT= 243.3

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One year ago, you bought shares of Aaon, Inc at $36.48 a share. You received a dividend of $1.62 per share last month and sold t
Pie

Answer: 12.88%

Explanation:

The following information can.be inferred from the question:

Purchase price of share = $36.48

Dividend = $1.62

Selling price = $41.18

Capital gain = $41.18 - $36.48 = $4.70

Capital gain yield:

= Capital gain / Purchase price × 100

= (4.70 / 36.48) × 100

= 0.1288

= 12.88%

7 0
3 years ago
A practitioner may perform an agreed-upon procedures engagement on prospective financial statements provided that which of the f
Marat540 [252]

Answer:

Option b is correct

Explanation:

The requirement of this service is to be independently derived because the procedures vary according to needs of the parties involved in the agreement.

6 0
3 years ago
A popular clothing brand has released a new range of pants. The brand manager wants to target several sections of youth with thi
Andrej [43]

.Answer:

A.  customer classification

Explanation:

Classification of consumers is the process of grouping customers according to shared traits. Customers in the same group will share some common characteristics that a business can use to serve them better. In customer classification, the firm seeks to identify the common traits that make customers have similar buying patterns.

The manager in the clothing brand has identified traits he can use to classify the target customers into four groups. He has applied customer classification. If he subdivides each group by specific attributes such as age, gender, or other similarities, he would be doing customer segmentation

7 0
3 years ago
Given the following owner’s income and expense estimates for an apartment property, formulate a reconstructed operat-ing stateme
scoundrel [369]

Answer:

$363,000

Explanation:

Calculation for the property’s indicate market value.

First step

Operating Statement

PGI: $66,000

(10 units x $550 x 12 month )

Less: Vacancy Loss(3,300)

(5%*66,000)

EGI:62,700

Less: Operating Expenses

Power$2,200

Heat1,700

Janitor4,600

Water3,700

Maintenance4,800

Management3,000

Reserve for CAPX2,800

Total Operating Expenses$22,800

Net Operating Income$39,900

(62,700-22,800)

Second step is to find the property’s indicate market value.

Using this formula

Market Value=NOI/ Ro

Let plug in the formula

Market Value=$39,900/11.0%

Market Value=$363,000

Therefore the property’s indicate market value is

$363,000

6 0
3 years ago
I need help in this it’s personal finance
Lilit [14]

Answer:

it may personal finance

Explanation:

because it's is include personal site

7 0
2 years ago
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