1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nikdorinn [45]
3 years ago
11

arren has a loan with an effective interest rate of 5 percent per annum. He makes payments at the end of each year for 10 years.

The first payment is 200, and each subsequent payment increases by 10 per year. Calculate the interest portion in the fifth payment.
Business
1 answer:
Bond [772]3 years ago
6 0

Answer:

interest portion of fifth payment = $66.89 ≈ $67

Explanation:

effective interest rate = 5% yearly

first payment = $200

second payment = $210

third payment = $220

fourth payment = $230

fifth payment = $240

sixth payment = $250

seventh payment = $260

eighth payment = $270

ninth payment = $280

tenth = $290

using a financial calculator, I determined the present value (principal) of the loan = $1,860.87

then I prepared an amortization schedule:

interest portion of fifth payment = $66.89 ≈ $67

Download pdf
You might be interested in
Identify each account as asset​ (a), liability​ (l), or equity​ (e).
posledela

Identify each account as Asset (A), Liability (L), or Equity (E)

A. Accounts Payable - liability

B. Cash - asset

C. Owners Capital- Equity

D. Accounts Receivable- asset

E. Rent Expenses - equity

F. Service Revenue - equity

G. Office Supplies - asset

H. Owners Withdrawal - equity

I. Land -asset

J. Salaries Expenses -equity

<span> </span>

4 0
3 years ago
Publix has 2,700 pounds of bananas with a total cost of $864. Because the bananas have become too ripe, Publix is contemplating
tamaranim1 [39]

Answer: an increment in profit $1615

Explanation:

2700 pounds of Banana

Total cost = $864

If sold = $1485

When converted into bread $2565 and sold at the cost of $4480

Oven rentage = $300

What is the incremental effect on income if Publix converts the bananas to banana bread?

Sales Amount - Expenses incurred

= $4480 - $2565 + $300

= $4480 - $2865

= $1615

If he had sold the bananas

Sales amount - cost amount

= $1485 - $864

= $621

By converting the bananas to bread the incremental effect on income is it would yield more profits at $1615 compared to when sold at which is $621

3 0
3 years ago
Tim, who works for Peachtree Realty, referred a buyer to a broker who works for Pinetop Realty. The referring agent is to receiv
IrinaK [193]

Answer:

$1,312.50

Explanation:

Calculation for How much was the referring agent paid

First step is to find the buyer agent amount by using the buyer's agent percentage to multiply the buyer purchased amount of the home

Using this formula

Buyer agent amount =Buyer's agent percentage× Home purchased amount

Let plug in the formula

Buyer agent amount=1.5%×$350,000

Buyer agent amount=$5,250

The last step is to find How much was the referring agent paid

Using this formula

Amount referring agent paid =Buyer agent amount× Percentage of buyer side commission

Let plug in the formula

Amount referring agent paid=$5,250×25%

Amount referring agent paid=$1,312.50

Therefore the amount that the referring agent paid will be $1,312.50

5 0
2 years ago
The marginal benefit Bob gets from purchasing a third pair of gloves is Select one:_____.
babymother [125]

Answer:

d. the total benefit he gets from purchasing four pairs of gloves minus the total benefit he gets from purchasing three pairs of gloves.

Explanation:

Marginal benefits refer to the additional gains obtained by the sales, purchase, or manufacture of an extra unit. It the advantage associated with buying or selling one more unit. Marginal benefit is compared with the marginal cost to determine if continuous production is profitable.

Since marginal benefits are associated with an extra item, obtaining the value of the additional items must exclude the previous units. In this case, getting the marginal benefit of the fourth item can be calculated by adding up the gains of all the four gloves then subtracting the gains of the first three.

6 0
3 years ago
"Pinkmake Inc. is expanding its global operations into Jartainia in spite of the frequent changes in its government due to the a
exis [7]

Answer:

... it must deal with criminal aspects, dangerous situation and violence in general.

Explanation:

5 0
3 years ago
Read 2 more answers
Other questions:
  • Edna is a leading brain surgeon in the United States. She enters into a contract to perform a complicated brain surgery on Ben.
    11·1 answer
  • A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took
    15·1 answer
  • The Marshall Company has a process costing system. All materials are added when the process is first begun. At the beginning of
    8·1 answer
  • The shift of population from rural to urban areas in countries such as india helps global marketers by
    9·1 answer
  • A company has designed a new product and tested the prototype. what is the next step in product development?
    8·1 answer
  • A person who can afford a monthly payment of and signs a loan agreement with a monthly payment of is most likely a victim of pre
    14·1 answer
  • Dinklage Corp. has 6 million shares of common stock outstanding. The current share price is $72, and the book value per share is
    15·1 answer
  • Technology often offers the potential of improving efficiency and effectiveness of trans-portation companies, but water carriers
    13·1 answer
  • Suppose 2 athletes sign 10-year contracts for $80 million. In one case, we're told that the $80 million will be paid in 10 equal
    15·1 answer
  • Anyone who wants to use copyright material must obtain permission from the copyright owner in the form of a ____.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!