Answer:
Amortization schedule for a five-year loan
Year 1
Principle $11,195.19
Interest $6,030.00
Balance $55,804.81
Year 2
Principle $12,202.76
Interest $5,022.43
Balance $43,602.04
Year 3
Principle $13,301.01
Interest $3,924.18
Balance $30,301.03
Year 4
Principle $14,498.10
Interest $2,727.09
Balance $15,802.93
Year 5
Principle $15,802.93
Interest $1,422.26
Balance $0.00
Explanation:
<em>First Calculate the equal annual payments, </em><em>Pmt</em><em> of the loan as follows :</em>
Pv = $67,000
n = 5
r = 9.00 %
p/yr = 1
Fv = $ 0
Pmt = ?
Using a financial calculator, the equal annual payments, Pmt is - $17,255.19
<em>Then Construct the amortization schedule :</em>
This can be obtained from a financial calculator as SHIFT AMORT
False. Phishing is usually considered emails that are sent that look genuine but are actually from scammers trying to obtain personal or financial information.
Answer: Option B
Explanation: In simple words, cost cutting refers to the process in which an organisation modifies or re- implement its production and distribution process with the sole object of reducing the cost of production.
By reducing the cost of production an organisation can charge low prices for the product in the market and attract more customers. Although this process sounds straight but it is not easy for the firms orating at small level.
Large firms can easily cut their cost without affecting quality as they have huge scale of operations and they purchase inputs at a high volume which makes them applicable for particular discounts.
Thus, from the above we can conclude that the correct option is B.
Answer:
a). You will have a total of $186,587.66 at the end of 42 years
b). You will have total of $78,816.64 at the end of 32 years
Explanation:
a). How much you will earn after 42 years
Step 1: Determine amount earned in 42 years
The total amount earned can be expressed as;
A=P(1+r)^n
where;
A=total amount earned
P=Initial investment amount
r=Annual interest rate
n=number of years of investment
In our case;
P=$5,000
r=9%=9/100=0.09
n=42 years
replacing;
A=5,000(1+0.09)^42
A=5,000(1.09)^42
A=186,587.66
You will have a total of $186,587.66 at the end of 42 years
b). Amount after 32 years
where;
P=5,000
r=9%=9/100=0.09
n=32 years
replacing;
A=5,000(1+0.09)^32
A=5,000(1.09)^32
A=78,816.64
You will have total of $78,816.64 at the end of 32 years
Answer:
D
Explanation:
The federal deposit Insurance Corporation is an independent federal agencies that insures deposit in banks against any bank failures. It includes commercial banks and state chartered banks as its members.
In order to ensure that bank failures are prevented , the FDIC monitors the operational safety and effectiveness of members bank . This insurance is limited to $250,000 per depositor per bank and it covers only the depository account like the checks and savings account.
