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Delicious77 [7]
3 years ago
7

How long will it take to pay off a loan of ​$50,000 at an annual rate of 9 percent compounded monthly if you make monthly paymen

ts of ​$500​?
Use five decimal places for the monthly percentage rate in your calculations.

The number of years it takes to pay off the loan is __ years.  ​(Round to one decimal​ place.)

Business
1 answer:
nalin [4]3 years ago
4 0

Answer:

185.531532 months

15.5 years

Explanation:

We use the NPER formula in this question that is shown in the spreadsheet.

The NPER represents the time period.

Given that,  

Present value = $50,000

Future value = $0

Rate of interest = 9% ÷ 12  months = 0.75%

PMT = $500

The formula is given below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the answer in months would be 185.531532 month

And, in year it would be 15.5 years after dividing by 12 months, the number of year comes

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 Below you can read further to understand more on customer relationship Management.

<h3>What is Customer Relationship Management?</h3>

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4 0
1 year ago
Price discrimination is the practice of charging different prices for the same product that are not justified by cost difference
Sergeu [11.5K]

Answer:

<h2>Because firms in a perfectly competitive market does not have any price making ability or market power,they are not able to engage in any price discrimination.Hence,the correct answer is  the last option or True,because perfectly competitive firms have no market power.</h2>

Explanation:

In Microeconomics,perfectly competitive markets are characterized by many buyers and sellers in which the sellers and firms usually sell homogeneous or identical products.Now,as there are many firms in the market and no barriers to entry for new firms into the market,the market competition or rivalry is high and hence,no single firm has the ability to determine and manipulate the market price according to their own economic advantage because if any firm tries to do so,it will loose significant market share as most customers would move to other sellers/firms charging lower price or regular market price.Therefore,the market price is fixed in the perfectly competitive market as the firms do not have price making or market power.Consequently,they are not able to charge different prices to different customers according to their maximum willingness to pay or differences in price preferences.

3 0
3 years ago
West Corp. issued 20-year bonds two years ago at a coupon rate of 8.6 percent. The bonds make semiannual payments. If these bond
Troyanec [42]

23.6

Explanation:

it become right answer

3 0
3 years ago
Which action would be most likely to affect whether scroll bars appear in a Word document?
Luden [163]

Answer:

-D

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I'm pretty sure it's zooming in or out on the document

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3 years ago
At year-end (December 31), Chan Company estimates its bad debts as 0.50% of its annual credit sales of $823,000. Chan records it
Rudiy27

Explanation:

The journal entries are as follows

On December 31

Bad debt expense Dr  $4,115        ($823,000 × 0.50%)

       To Allowance for doubtful debts  $4,115

(Being the bad debt expense is recorded)      

On Feb 01

Allowance for doubtful debts Dr $412

      To Account receivable $412

(Being the uncollectible amount is recorded)

On June 5

Account receivable $412

          To Allowance for doubtful debts Dr $412

(Being the  uncollectible amount is recorded)

On June 5

Cash Dr $412

   To Account receivable $412

(Being the cash received is recorded)

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3 years ago
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