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Dafna11 [192]
2 years ago
12

Letitia borrowed $6,000 from her bank two years ago. The loan term is four years. Each year, she must repay the bank $1,500 in p

rincipal plus the annual interest. The payments are in equal amounts, with the entire loan paid off by the end of the four years. Which type of loan does she have
Business
1 answer:
marysya [2.9K]2 years ago
5 0

Answer:

amortised loan

Explanation:

Letitia borrowed money from the bank, and according to the loan regulations, she has to pay an equal amount for the rest of two years, which shows that it is a type of amortised loan. In amortised loan customers pay back the loan in stages, and they pay that according to the criteria of the bank.

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Studdard Controls recently declared a quarterly dividend of $1.25 payable on Thursday, April 25, to holder of record of Friday,
elena-14-01-66 [18.8K]

Answer:

April 11th

Explanation:

the dividends will be paid to the owner of the share one day before the record.  This is defined asthe Ex-date ofthe dividends.

DISCLAMER

Assuming it refers to 2019 Apil 12th

the previous business day will be April 11th (we should liook into the calendar and avoid counting Friday and saturdays

for the year 2019 April 12th is a friday so it is okay to define it as April 11th

7 0
3 years ago
You find a mutual fund that offers approximately 6% APR compounded
aliya0001 [1]

Answer:72.19

Explanation:

8 0
3 years ago
if Alexis invest $2,000 into a fund that earns 5.5% interest compounded annually, how long will it take for her investment to gr
madreJ [45]

Answer:

73 years

Explanation:

To solve this problem, we can use the formula for the annual compound interest, which is:

A=P(1+r)^t

where:

A is the final amount after time t

P is the principal

r is the rate of interest

t is the time

In this problem, we have:

P=\$2000 is the principal

r=0.055 is the interest rate (5.5%)

We want to find the time t at which the amount of money is

A = $100,000

Therefore, we can re-arrange the equation and solve for t:

(1+r)^t=\frac{A}{P}\\t=log_{1+r}(\frac{A}{P})=log_{1+0.055}(\frac{100,000}{2000})=73

So, it will take 73 years.

3 0
2 years ago
List three or four effects of financial irresponsibility.
Aleksandr-060686 [28]
Debt
Fraud
being broke
5 0
3 years ago
Once a business has sold a service, it no longer needs to be concerned with customer satisfaction. True False
kobusy [5.1K]

Answer:

False

Explanation:

' Once a business has sold a service, it no longer needs to be concerned with customer satisfaction' is a False statement.

Customers are the pillars on which every business stands & their satisfaction should be a supreme priority for a business.

There is need of 'After Sale Services' after selling a service. This is important to ensure customer's expectations from the product are met, & they are satisfied with the business' services.

After sale services make customers feel valued. This generates customer retention, customers' loyalty towards business. Such customers are also likely to do word marketing & build a business' reputation in front of other customers.

4 0
3 years ago
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