Answer:
The amount that Canliss borrowed is $45,459.51
Explanation:
The amount borrowed is the present value of $10,500 for five years using the discount factor applicable to each to each year as shown below
The formula for discount factor=1/(1+r)^n
r is the rate of interest on the loan which is 5%
n is the year relating to each cash flow ,for instance 1 for year one
present value of the loan=$10,500/(1+5%)^1+$10,500/(1+5%)^2+$10,500/(1+5%)^3+$10,500/(1+5%)^4+$10,500/(1+5%)^5=$45,459.51
Answer:
Write down order
Ask is they would like condiments
Input the order
Collect payment
Deliver order
Explanation:
Answer:
11 years is the required answer.
Explanation:
is the formula for compound interest.
Where, r is the interest rate in decimals and n is the number of times interest is compounded anually. Putting the values, we get:
Best Regards!
The amount of mortgage a person is eligible for will be larger when there is lower interest rate.
<h3>What is a mortgage?</h3>
This refers to an agreement that exist between a lender and a borrower in which a lender can take over the borrower's properties incase of any default in payment.
A mortgage is like a loan, obtained by a borrower with a promise to pay at a future date.
Learn more about mortgage here :brainly.com/question/24732162
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Hello! So, $1,000 is invested in the account. You lost 13% of that later on. To find out how much is left after that, multiply 1,000 by 87%. This is because although you have lost 13% of it, you still have 87% of it left. 100 - 13 is 87. 1,000 * 87% (0.87) is 870. So your statement is down to $870. However, you gain 13% of the current amount. To find out the amount in the account, add 1 to the rate in decimal form, and then multiply that by the amount in the statement. We add 1 to the rate when we're looking for total amount, because doing that will take you straight to the total amount and makes you less likely to make an error. 13% is 0.13 in decimal form. 1 + 0.13 is 1.13. 870 * 1.13 is 983.1. There. The value of your account is $983.10.