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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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A person with a poor self-concept is more likely to be hired for a position, because they are easier to “mould”.
Charra [1.4K]

Answer:

False.

Explanation:

Self-concept describes the kind of person or personality an individual thinks he or she has.

People that have a realistic self-concept about themselves basically see themselves as they are, not what they or the society at large wants them to be.

The statement that a person with a poor self-concept is more likely to be hired for a position, because they are easier to “mould” is false and an absolutely incorrect notion.

First of all, no organization is interested in hiring an individual with a poor self-concept because they can't add any value to the organization in the long-run.

6 0
3 years ago
When the price of good A is $50, the quantity demanded of good A is 500 units. When the price of good A rises to $70, the quanti
olga55 [171]

Answer: The price elasticity of demand for good A is 0.67, and an increase in price will result in a increase in total revenue for good A

Explanation:

The following can be deduced form the question:

P1 = $50

P2 = $70

Q1 = 500 units

Q2 = 400 units

Percentage change in quantity = [Q2 - Q1 / (Q2 + Q1) ÷ 2 ] × 100

Percentage change in price = [P2 - P1 / (P2 + P1) ÷ 2 ] × 100

% change in quantity = (400 - 500)/(400 + 500)/2 × 100

= -100/450 × 100

= -22.22%

% change on price = (70 - 50)/(70 + 50)/2 × 100

= 20/60 × 100

= 33

Price elasticity of demand = % change in quantity / % change on price

= -22.22 / 33

= -0.67

This means that a 1% change in price will lead to a 0.67% change in quantity demanded. As there was a price change, there'll be a little change in quantity demanded because demand is inelastic. Thereby, he increase in price will lead to an increase in the total revenue.

Therefore, the price elasticity of demand for good A is 0.67, and an increase in price will result in an increase in total revenue for good A

7 0
3 years ago
The federal reserve's target rate for the federal funds rate is an extra policy tool for the central bank, in addition to and in
blondinia [14]

Answer:

Commits the fed to set a particular money supply so that it hits the announced target

Explanation:

The target rate and money supply need to be alligned for the FED to achieve its goals.

8 0
3 years ago
A movement along the demand curve might be caused by a change in:____.
dolphi86 [110]

A movement along the demand curve might be caused by a change in the price of the good or service that is being demanded.

<h3>What is Demand?</h3>

This is the quantity of goods and services that consumers are able to purchase at a given price and at a particular time.

The price of the goods and services greatly influences the level of demand thereby bringing about movement along the demand curve. This makes the option D the most appropriate choice.

Read more about Demand here  brainly.com/question/2398546

7 0
2 years ago
Zander Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at
Margarita [4]

Answer:

Find attached complete question:

The correct option is A,$ 746,200

Explanation:

The total standard costs for the whole items of inventory completed in the month of July is the sum of the beginning balance of inventory plus direct materials costs, direct labor cost as well as manufacturing overhead cost applied.

Total cost of completed units=$44,100+$564,900+$195,300+$315,000=$ 1,119,300.00  

standard cost per unit=$1,119,300.00/21000=$53.3

Cost of goods sold(unadjusted)=$53.3 *14,000=$ 746,200.00  

6 0
3 years ago
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