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kicyunya [14]
3 years ago
13

Your uncle the banker offers to lend you $25,000 to start a new business. You will have to make a payment of $7,000 at the end o

f each of the next 3 years plus a final payment of $10,000 at the end of Year 4. What annual interest rate is built into this loan?
Business
1 answer:
Sergio [31]3 years ago
7 0

Answer:

Annual interest rate = 6%

Explanation:

Amount of loan = $25,000

The total amount repaid:

($7,000 × 3 years) + ($10,000 balloon payment)

= (7,000 × 3) + (10,000)

21,000 + 10,000 = $31,000

Interest on payment = repayed amount - loaned amoun

Interest on payment = 31,000 - 25,000 = $6,000

Let the total percentage on the loaned amount be x

Therefore we are looking for what percentage rate of the loaned amount ($25,000) will give the interest of $6,000

x % of 25,000 = 6,000

\frac{x}{100} \times\ 25,000 = 6,000\\\frac{25,000x}{100} = 6,000\\25,000x = 600,000\\x = \frac{600,000}{25,000}\\x = 24

Therefore the total percentage interest rate = 24%

Annual interest rate = Total interest rate ÷ number of years

Annual interest rate = 24 ÷ 4 = 6%

∴ Annual interest rate = 6%

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5 importance of communication​
olga55 [171]

Answer:

1-Communication is important to express oneself.

2-Need for effective leadership.

3-Helps in proper planning.

4-Improve public Relationships.

5-Helps in providing the full information.

Explanation:

Good communication also improves relationships, and in your personal life with friends and family members. Listening carefully and offering quality feedback helps people to feel heard and understood. This, in turn, nurtures mutual respect. Communication is important to express oneself. It also satisfies one's needs. One should have effective communication for advancement in the career. In your personal life, effective communication skills can smooth your way and your relationships with others by helping you to understand others, and to be understood. Communication not only conveys information, but it encourages effort, modifies attitudes, and stimulates thinking

I hope it helps!

Please mark me as the brainliest. (I need it)

A piece of advice for every learner:

Never stop believing In yourself, And never underestimate your ability As it takes time To be a master in anything.

You can do it!

You can achieve your goals!

8 0
2 years ago
Help me with this please the answer I choose is incorrect !!
fiasKO [112]
Probably direct social service work
3 0
3 years ago
Read 2 more answers
According to a recent survey, insurance was cited as the biggest problem for small businesses. What is cited as the second most
Murljashka [212]
A health care costs sorry if i am wrong
7 0
3 years ago
Ruiz Co.’s budget includes the following credit sales for the current year: September, $165,000; October, $156,000; November, $1
Minchanka [31]

Answer:

$150,350

Explanation:

The computation of the cash collected in December is shown below:

Particulars          Sept          Oct           Nov           Dec

Sales                 $165,000      $156,000       $140,000        $177,000

Given percentage                        30%                 55%                 15%                      

December collection amount   $46,800          $77,000           $26,550

Total December collection                    $150,350

8 0
3 years ago
It is safe to use your bright headlights if there is a car ahead of you within 300 feet. True or False?
monitta
True.
At 200 feet you turn on low beams :)
6 0
3 years ago
Read 2 more answers
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