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
Delicious77 [7]
2 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]2 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

You might be interested in
A company reports the amounts below in its financial statements. Net cash flow from operating activities $37,570 Total net cash
balandron [24]

Answer:

Ratio will be 0.92

So option (A) will be the correct option

Explanation:

We have given net cash flow from operating activities = $37570

So net operating cash flow = $37570

Current liabilities at the bugging of the year = $38400

Current liabilities at the end of the year = $43200

So average current liabilities =\frac{38400+43200}{2}=$40800

We have to find the ratio of operating cash flow to current liabilities

So ratio will be =\frac{37570}{40800}=0.92

So option (A) will be the correct option

3 0
3 years ago
"Jen operates Jen's Fruits & Vegetables, a small market stocked entirely with produce grown on her adjacent farm. Under what
GarryVolchara [31]

Answer:

The federal government can regulate Jen's activity citing the supreme court rule of the government ability to regulate any activity interstate or intrastate that affects interstate commerce.

In the line of this argument it means that a farmer growing and of goods affects interstate commerce.

The farmers best argument concerning the federal government regulating their activities due to interstate commerce is that his activities are purely local and although I don't believe any court will hear him out.

Explanation:

6 0
3 years ago
You are considering the purchase of a certain stock. You expect to own the stock for the next four years. The current market pri
murzikaleks [220]

Answer:

The answer is: The expected rate of return from this investment is 26.68%

Explanation:

We are given the following cash flows for this operation:

  • Initial investment = -$24.50
  • Cash flow 1 = $1.25 (dividend year 1)
  • Cash flow 2 = $1.35 (dividend year 2)
  • Cash flow 3 = $1.45 (dividend year 3)
  • Cash flow 4 = $56.55 ($1.55 dividend year 4 + $55 stock's sales price)

Using an excel spreadsheet and the IRR function:

=IRR(value 1: value 5) =26.68%  

where

  • value 1 = -24.50
  • value 2 = 1.25
  • value 3 = 1.35
  • value 4 = 1.45
  • value 5 = 56.55

7 0
3 years ago
A time standard was set as 0.20 hour per unit based on the 20th unit produced. Assume the task has a 60 percent learning curve.
Sliva [168]

Answer:

40th unit = 0.11 hr

80th unit = 0.06 hr

160th unit = 0.03 hr

Explanation:

Given :

$T_{20} = 0.2$

Learning rate = 60% = 0.6 (r)

Now using the learning curve equation,

$ T_n = T_1(n)^b$

where b is  $b= \frac{\ln r}{\ln 2} = \frac{\ln 0.6}{\ln 2} $  = -0.833

Now

$ T_{20} = T_1(20)^{-0.833}$

$ 0.20 = T_1 (0.0824)$

$T_1$ = 2.5

For 40th unit

$ T_{40} = 2.5(40)^{-0.833}$

      = 0.11 hrs

For 80th unit

$ T_{80} = 2.5(80)^{-0.833}$

      = 0.06 hrs

For 160th unit

$ T_{160} = 2.5(160)^{-0.833}$

        = 0.03 hr

6 0
2 years ago
Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the
larisa86 [58]

Answer:

The EFF of card is 27.45%.

Explanation:

EFF interest rate is an interest rate which is actually paid or received on debt or investment. It is also known as Effective Interest rate.

APR = 24.50%

EFF = ( ( 1 + r/m )^m ) - 1

EFF = ( ( 1 + 0.245/12 )^12 ) - 1

EFF = ( ( 1 + 0.020417 )^12 ) - 1

EFF = ( ( 1.020417 )^12 ) - 1

EFF =  1.27447765 - 1

EFF = 0.2745

EFF = 27.45%

6 0
3 years ago
Other questions:
  • Suppose a tire manufacturer wants to set a mileage guarantee on its new XB 70 tire. Tests revealed that the tire's mileage is no
    12·2 answers
  • How do economists calculate GDP for one year using the expenditure approach?
    5·1 answer
  • All of the following costs are likely to decrease as a result of better quality except:
    9·1 answer
  • Market pressures tend to move prices toward a(n) _____. price that causes shortages price that causes surpluses equilibrium pric
    7·2 answers
  • The effectiveness of an advertising campaign can be measured a. only after the campaign has been carried out completely and resu
    6·1 answer
  • The addition of acceptance criteria factors to the milestone schedule in a project charter helps the team understand who will ju
    11·1 answer
  • Galaxy Co. distributes wireless routers to Internet service providers. Galaxy procures each router for $75 from its supplier and
    12·1 answer
  • A small risk of loss in an investment.
    11·1 answer
  • 3. If you are the victim of fraud in Oklahoma, the best place to start is by
    13·1 answer
  • A customer asks about or expresses concern that the rogue vc-turbo has three cylinders. What are some ways to respond?.
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!