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
Setler79 [48]
3 years ago
5

2. Suppose you borrow $2,000 at 5% and you are going to make annual payments of $734.42. How long before you pay off the loan

Business
1 answer:
Alona [7]3 years ago
6 0

Answer:

3 years

Explanation:

The computation of the time period is shown below

Present value of annuity = Annuity × [1 - (1 + interest rate)^-time period] ÷ rate

$2,000 = $734.42 × [1 - (1.05)^-n] ÷ 0.05

$2,000 = $14,688.4 × [1-(1.05)^-n]

1-(1.05)^-n = ($2000 ÷ $14,688.4)

(1.05)^-n = 1 - ($2000 ÷ $14,688.4)

( 1 ÷ 1.05)^n = 0.86383813

Now take the log to the both sides

n × log(1 ÷ 1.05) = log0.86383813

n = log0.86383813 ÷ log (1 ÷ 1.05)

= 3 years

You might be interested in
Which reason for trade barriers is being used when the us refuses to trade with another country because they use child labor to
Kruka [31]

The reason why trade barriers is being used when the us refuses to trade with another country is: Upholding standards.

<h3>What is upholding standard?</h3>

Upholding standard is the process were a country tend to follow and maintain their set standard without deviating from it.

United states refuse to trade with others country because  other country were using children as a laborer to produce goods and United state is against it leading to what is called trade barrier.

Inconclusion the reason why trade barriers is being used when the us refuses to trade with another country is: Upholding standards.

Learn more about upholding standard here:brainly.com/question/6868717

4 0
2 years ago
In the management assistance area, the Small Business Administration (SBA) provides all of the following EXCEPT: Group of answer
polet [3.4K]

Answer: Free college credit courses in management

Explanation:

The Small Business Administration (SBA) is a Federal government agency that aims to help small businesses and entrepreneurs by providing them with resources to make them grow.

They have toll-free phone numbers that entrepreneurs and small businesses can call for advice, they have trading training programs and business development offices who offer advice and counsel on business techniques and they even free publications on business topics.

They do not however offer free college credit courses in management.

4 0
3 years ago
A stadium is considering an offer from Mass Insurance to change the name to Mass Stadium. The company is offering to pay $1,000,
tino4ka555 [31]

Answer:

b) 1,250,000

Explanation:

1,000,000+ 250,000 = 1,250,000

8 0
2 years ago
Which of the following statements is true regarding depreciation methods?
r-ruslan [8.4K]

Answer:

The correct answer is letter "D": The use of a higher estimated life and a higher residual value will lower the annual amount of depreciation expense recognized on the income statement.

Explanation:

Depreciation distributes the cost and cost over the useful life of the assets of tangible and real assets. A business could depreciate an asset over a period of up to thirty years, depending on the type of asset it is. There are many depreciation methods but, among the most common we can find the <em>Straight-line method, the Double Declining Balance method</em>, and <em>the Units of Production method</em>. As long as the estimated life of the asset and its residual value is high, the amount filed for the depreciation will be lower.

7 0
3 years ago
Listening skills are often as difficult to develop as speaking skills.<br><br> True<br> False
Drupady [299]

some people say its true others say its false

I would say its false

hope this helps :)

5 0
3 years ago
Other questions:
  • What step must be taken before investigators can determine if data tampering has occurred?
    7·1 answer
  • Can these two countries gain from trading oil and fish​ oil?
    10·1 answer
  • To what aspect of a business structure does the term sole proprietorship refer?
    15·1 answer
  • Why is finance a matter of general interest and not only individual?
    8·1 answer
  • Suppose the United States can produce two goods, cloth and tea. Suppose there was a technological breakthrough in making cloth O
    11·1 answer
  • A business client is looking for ways to decrease its monthly premiums. To get down to the premium level sought after by the com
    15·1 answer
  • In 1993, Novak Company completed the construction of a building at a cost of $2,500,000 and first occupied it in January 1994. I
    14·1 answer
  • Cutter Enterprises purchased equipment for $72,000 on January 1, 2011. The equipment is expected to have a five-year life and a
    6·1 answer
  • Enrollment in a particular class for the last four semesters has been 122, 128, 100, and 155 (listed from oldest to most recent)
    14·1 answer
  • Bowie Glass purchased 17,000 shares of Lenz Framing common stock for $382,500 in 2016. When they created their December 31, 2016
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!