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
Svetach [21]
3 years ago
14

On the day you entered college, you borrowed $30,000 from your local bank. The terms of the loan include an interest rate of 4.7

5 percent. The terms stipulate that the principal is due in full one year after you graduate. Interest is to be paid annually at the end of each year. Assume that you complete college in four years. How much total interest will you pay on this loan assuming you paid as agreed?
Business
1 answer:
Hitman42 [59]3 years ago
5 0

Answer:

The total interest paid on this student loan will be equal to:

$

Explanation:

a) Data and Calculations:

Amount of loan = $30,000

Interest rate = 4.75%

Duration of loan = 5 years

Total interest = $30,000 * 4.75% * 5 = $7,125

b) Since interest is paid annually at the end of each year, this means that $1,425 will be paid each year for 5 years.  This gives a total of $7,125 ($1,425 * 5).  As a result, we can infer that this is a simple interest payment method, because the interests are not added to the principal.  That is, the interest is not compounded.  So, the calculation is based on the simple interest formula of principal by interest rate by number of periods.

You might be interested in
How long does someone stay on your best friend list on Snap chat??​
Dennis_Churaev [7]

it's for as long as u want except ur phone begins to malfunction

3 0
3 years ago
6. What do you pay for a twelve-ounce can? What are the real social costs of producing a can of Coke – in terms of water, power
VladimirAG [237]

Answer and Explanation:

To pay for a twelve ounce can it costs between 50 cents to a dollar. The social costs of producing a can coke, in which 9 liters of fresh water is used which effects fresh water supply on earth due to its contamination. The cost of making coke :costs more higher, where it has to maintain its employees, buildings, its road transportation, garbage disposal, and many more. People who are living near the coke plant building pays all these costs, and all people pays a equal part as it is taking from earth.

4 0
3 years ago
4. Part of delivering an effective slide presentation is making sure you present your material in a logical order. Before you be
grandymaker [24]

Answer: Arranging them in an orderly manner, easy to understand by the audience and when presented

Explanation:

When arranging your slide for presentation, it's necessary that they are arranged in a logical manner, one of the things to have in mind is your objectives, when this is understood, you begin the arrangement of your presentation with your with table of contents, introduction, abstract, would be followed by the chapters, your conclusion and references, all tailored in an orderly manner driving your point home to your audience.

5 0
3 years ago
A business has a key person insurance policy. Who or what would be the beneficiary of the policy ? A. The children of the key pe
Masja [62]

Answer: the business

Explanation:

A P E X

6 0
4 years ago
Read 2 more answers
Dennis Kozlowski, John Thain, and Raj Rajaratnam are former CEOs mentioned in the text that have been involved in corporate gove
denpristay [2]

Answer:

Dennis Kozlowski was found guilty of grand larceny, falsifying business records, securities fraud, and conspiracy.  He later admitted to have been driven by excessive greed as he overcompensated himself when he served as CEO of Tyco.

Explanation:

Dennis Kozlowski during his crime trial was found to have received "$81 million in unauthorized bonuses, the purchase of art for $14.725 million, and the payment by Tyco of a $20 million investment banking fee to Frank Walsh, a former Tyco director," according to wikipedia.com.

4 0
4 years ago
Other questions:
  • Which of the following should be pracited among all co workers in the workplace
    11·1 answer
  • Gracie showed up at a new hair salon with her special color treatment coupon. A hairdresser named Bunny applied the color to Gra
    5·1 answer
  • "1. When a T-shirt manufacturer states, ""We sell it only in black because that way we can buy plenty of black fabric and run ou
    7·2 answers
  • During the Great Recession, a major financial crisis followed the collapse of housing prices, which led to ____. Multiple Choice
    5·2 answers
  • Javier is currently paying ​$1 comma 200 in interest on his credit cards annually.​ If, instead of paying​ interest, he saved th
    14·1 answer
  • At December 31, 2017 Sheridan Company had 294000 shares of common stock and 9500 shares of 6%, $100 par value cumulative preferr
    11·2 answers
  • A man of seemingly modest means died, leaving his nephew as his sole heir. Among the items inherited by the nephew were some old
    9·1 answer
  • Following information relates to Acco Co.
    14·1 answer
  • The unit rate for 63 meters in 36 minutes
    11·1 answer
  • Hi, this is Business statistics. Please help me. Thank you
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!