Answer:
$41,400
Explanation:
Tuition will increase by $500 each year
Year 1 tuition = $17,300
Year 2 tuition = $17,800
Year 3 tuition = $18,300
Year 4 tuition = $18,800
Total = $72,200
Scholarship per year = $5000
Total scholarship for 4 years = 4 * $5000
= $20,000
Earnings per year = $2,700
Total earnings for four years = 4 * $2,700
= $10,800
She plans to take out a loan to cover the remaining tuition costs
Loan = Total tuition - (Total scholarship for 4 years + Total earnings for four years)
= $72,200 - ( $20,000 + $10,800)
= 72,200 - (30,800)
= 72,200 - 30,800
= 41,400
Loan = $41,400
Michelle need to borrow $41,400
Answer:
The reason is that the Pauline's parents are performing parental orders which includes the imposition of conditions. These imposed conditions and rules for the children are for their benefit and will help them in forming habits and protect themselves from the world evil beings. All the habits structuring of Pauline which her parent desire are of immense importance for her future life. Neither of the condition or rule mentioned in the case are unethical and are what a proactive person possesses and are also desirable. This shows that the parents are working hard with their children to let them have a good set of habits and reflects good parenting. Though initiallt it seems that the liberty of Pauline is diminished but will ensure its future safety and liberty in the long run. People have choice to drink wine but this doesn't mean that the childrem must also taste them. This is because its not good for health and that the lack of good parenting will affect them most.
Answer:
Ans. The effective annual interest rate charged on the loan is 12.99% effective annually. (Please see the attached excel spread sheet)
Explanation:
Hi, attached is the amortization table that I made for this case. Notice that there is a yellow and green cell, the yellow one is the result of using the "IRR" function of MS Excel which provides an effective monthly rate, since the payments are made every month, then we have to transform that monthly effective rate into an effective annual rate, this is the formula to use.
That is:
Which we round to 12.99% effective annually.
Finally, notice that I didnt use the payments to find the effective rate, I used the cash flow, that was because you didn´t receive all the 100K (the fee, remember?), you received $98,000.
Best of luck.
Answer:
Workplace discrimination prevents the firm from using the full potential of those employees that are being discriminated against.
Explanation:
For example, if the firm discriminates against a specific group of people when hiring (for example, it can discriminate against older people), the firm could lose valuable potential employees that could have provided great skill and experience for the firm.
If the firm practices discrimination against employees, the operation in the company will not be as streamlined as it could be against discrimination because those who are being treated poorly will be less motivated and have lesser output.
