Answer:
Development of society means transformation of the societies structure and its relations. For there to be a development in a society, its structure has to be changed.
Explanation:
Development of society means transformation of the societies structure and its relations. For there to be a development in a society, its structure has to be changed.
Over the years, various rules and regulations restricting the activities of people living in society have been made. Some of these regulations have been positive while some negative. This has lead to various society transformation like from simple to complex, unity to diversity, uncivilization to civilization and primitive and so on.
For there to be development they have to be transformation.
Answer:
c. accept the loan with the lower effective annual rate rather than the loan with the lower annual percentage rate.
Explanation:
In the above scenario it will be a good financial decision to choose a loan with lower effective rate than the one with lower percentage rate.
Effective rate is defined as the real interest rate on a loan or the actual amount that is to be repaid annually on a loan. It gives a truer picture of cost of borrowing money.
Percentage rate is interest paid on a loan expressed as a percentage of the total amount collected. It usually includes various fees and charges collected by the lender. So it is not a true reflection of the cost of borrowing
Answer:
The value of the settlement is $ 62,604.06
Explanation:
The value of the settlement is the present values of all cash flows less lawyer's fees of $10000
In discounting the cash flows, I used the Present Value formula,which is:
PV=FV/(1+r)^n
FV =future value,amount receivable at each point time
r=rate of return=6%
n is the applicable number of years to each future value amount, for instance the $30000 last payment is receivable in the eleventh year,hence n is 11 years
The settlement value is the figure in the excel spreadsheet attached.
