Answer:
Annual deposit= $188,842.66
Explanation:
Giving the following information:
Williamsburg Nursing Home is investing in a restricted fund for a new assisted-living home that will cost $6 million.
n= 15 years
i= 10%
We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (6,000,000*0.10)/[(1.10^15)-1]
A= $188,842.66
Answer: 59 days
Explanation: As we know that,
And,
where,
= $550,000
so,
=6.19
Now, putting the values into first formula we have :-
= 59 days
Answer: their gross income
Explanation:
Since Mohammad and Fatima have to total the income they earned in the past year and include all of their investment dividends and any income they earned from their jobs. This is their gross income.
Gross income for an individual is made up of the income that is gotten from wages and salary and other ways the individual makes income like dividends, interest, pensions, and rental income.
Answer:
The interest rate on the car loan over the entire term of the loan is higher than the interest rate on her savings account.
Answer:
Choose Project A whose payback is 2.492 years and therefore falls within the 2.5 year required payback period.
Explanation:
Project A
Year Cash-flow Balance
0 (72,000) (72,000)
1 21,400 (50,600)
2 22,900 (27,700)
3 56,300 28,600
Project B
Year Cash-flow Balance
0 (81,000) (81,000)
1 20,100 (60,900)
2 22,200 (38,700)
3 74,800 36,100