1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
UNO [17]
3 years ago
14

A bank customer borrows X at an annual effective rate of 12.5% and makes level payments at the end of each year for n years.(whi

ch fully repays the loan).
i. The interest portion of the final payment is 142.78.
ii. The total principal repaid as of time (n − 1) is 6009.12.
iii. The principal repaid in the first payment is Y .

Calculate Y
Business
1 answer:
Evgesh-ka [11]3 years ago
4 0

Answer:

Y = $391.10

Explanation:

We have 0.125<em>B</em>(n-1) = i

B(n-1) = In = 142.78

So that B(n-1) = 142.78/0.125 = 1142.24

Furthermore, B(n-1) = <em>Px = Pv </em>= P/(1+0.125) = 1142.24

P/1.125 = 1142.24

P = 1142.24*1.125

P = 1285.02.

The total amount of the loan = Principal repaid as of time (n-1) + Principal repaid in last payment

= 6009.12 + 1142.24

= 7151.36

So, the total amount of the loan is 7151.36.

The principal repaid in the first payment Y = 1285.02 - 0.125*7151.36

Y = 1285.02 - 893.92

Y = $391.10

You might be interested in
Accounting profit differs from economic profit because
nlexa [21]
Economic profit<span> is the difference between total monetary revenue and total costs, but total costs include both explicit and implicit costs. </span>Economic profit<span> includes the opportunity costs associated with production and is therefore lower than </span>accounting profit<span>.</span>
3 0
3 years ago
Tamarisk, inc. has assets of $4393000, common stock of $1077000, and retained earnings of $604000. what are the creditors’ claim
Kamila [148]

$2712000 are the creditors’ claims on their assets.

The given assets = $4393000, common stock = $1077000, retained earnings = $604000, creditor's = ?

libilities = assets

creditors + common stock + retained earnings = assets

creditors + $1077000 + $604000 = $4393000

creditors + $1681000 = $4393000

creditors = $4393000 - $1681000

creditors = $2712000

Hence, creditors' claim on their assets is $2712000.

Still, a car is an assets if it's cheaper than what you paid for it because it's readily available on the market and can be turned into cash. That alone, by definition, makes it an asset. It's these additional costs and constant depreciation that make a car worthless.

Learn more about assets at

brainly.com/question/25821437

#SPJ4

4 0
1 year ago
Name the market structure in which agriculture farming operate​
erica [24]

Answer:

primary sector involves agricultural stuufs

hope it is helpful

4 0
3 years ago
Trusper Company was organized on January 1, Year 1 and has had 1,000 shares of $200 par value, 10% cumulative preferred stock ou
Masja [62]

Answer:

Trusper Company

The total amount of dividends that will be paid to common stockholders during Year 2 is:

$40,000.

Explanation:

a) Data and Calculations:

10% cumulative preferred stock = $200,000 ($200 * 1,000)

Common stock = $3,000 (3,000 * $1)

Dividends in Year 1 for cumulative preferred stockholders = $20,000 ($200,000 * 10%)

Dividends outstanding after Year 1 for cumulative preferred stockholders = $15,000 ($20,000 - $5,000)

Dividends for Year 2 for cumulative preferred stockholders = $35,000 ($20,000 + $15,000).

Total dividend paid to common stockholders during Year 2 = $40,000 ($75,000 - $35,000)

b) The unpaid cumulative preferred stock dividend of $15,000 for Year 1 will be added to the dividend of the Year 2.  The common stockholders are not paid any dividends in Year 1.  But in Year 2, they will get $40,000 after the cumulative preferred stock dividends are paid.

3 0
2 years ago
Nicki paid $900 for a camera that she thought was worth $1100 for all the features included in it. for the consumer electronics
FinnZ [79.3K]

Consumer surplus is difference between the amount that consumers are willing and able to pay for a good or service

In this case, Nicki is willing to pay $1,100 for the camera, but she is only asked to pay 900. So Nicki has a consumer surplus of $200

7 0
3 years ago
Other questions:
  • The law of comparative advantage explains why a. specialization and exchange will make it possible for trading partners to expan
    9·1 answer
  • What is the difference between a marketing strategy and a marketing plan?
    15·1 answer
  • Adieu Enterprises, based in Toronto, decides to expand into the South American market. To do so, it establishes a separate opera
    11·1 answer
  • The payment represents rent for the years 2022 and 2023, the period covered by the lease. Kraft Company is a cash basis taxpayer
    11·1 answer
  • Assume that Kubin Company produced 30,750 units and expects to sell 30,390 of them. If a new customer unexpectedly emerges and e
    15·2 answers
  • Part A Smith Company experienced the following accounting events during 2018:
    5·1 answer
  • Marginal analysis studies how individuals decide: a. whether to go to college. b. whether to live on the margin of society. c. h
    13·1 answer
  • Explain any four consumer rights as stipulated in the CPA​
    5·2 answers
  • What is the present value of 4360 to be received at the beginning of each of 30 periods discounted at 5% compound interest
    15·1 answer
  • _____ means transmitting information across functional boundaries in an organization to align all functions with customer expect
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!