Denote the principal amount: P
In 25 years, a bond with a 4.75% annual interest rate earned $2,375 as interest.
=> P x (1 + 4.75/100)^25 - P = 2375
=> P x 3.19 - P = 2375
=> P x 2.19 = 2375
=> P = 2375/2.19 = 1084.48$
The principal is most commonly used to refer to the original amount borrowed on a loan or invested in an investment. It can also refer to the face value of a bond, the owner of a private company, or a key participant in a transaction.
Suppose you buy a home for $ 300,000 with a 20% down payment. In this case, you will pay back $ 60,000 on your loan. The mortgage lender then pays $ 240,000, which is the cost of the loan balance. In this case, the principal balance will be $ 240,000.
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Unsubsidized federal loan
Answer:
Prepare for the future
Explanation:
Personal financial planning is the term used to describe the way an individual or a family manage their finances to meet their short-term and long-term goals. It involves developing personal financial goals and making plans on how to achieve them.
In developing and making plans, an individual considers the current and expected future income, present and expected expenditures such as medical health insurance expenses and school fees. An individual may opt to engage the services of a personal finance manager who advances on the savings and investments required to achieve the intended goals. Financial Planning Planning assists one prepare for the future.
The S<u>mall Business Administration</u><u> </u> helps economically weaker sections of the society to apply for loans to set up small businesses and facilitate their development
Explanation:
- The Small Business Administration (SBA) was established in the year 1953 to provide financial assistance to the small businesses.
- Apart from providing financial assistance SBA also counsel individual who are trying to setup or grow their businesses.
- SBA also acts as an advocate as it provides legislative advice's to the small business houses .
Answer:
B. Floor Broker
Explanation:
Floor brokers on the Chicago Board Options Exchange ( CBOE ) accept orders from member firms for execution. Orders are filled under an open outcry auction system in the trading "pits."
Market makers maintain bid and ask quotes in options contracts.
Order book officials maintain the book of public orders that cannot be immediately filled.
