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kicyunya [14]
3 years ago
12

Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those pre

sented here. For long-term loans, the differences may be pronounced. Assume that you take out a $2000 loan for 30 months at 9% APR. How much of the first month's payment is interest
Business
1 answer:
zloy xaker [14]3 years ago
5 0

Answer:

the  first month payment of interest is $74.70

Explanation:

The computation of the first month payment of interest is shown below

Given that

PV = $2,000

NPER = 30

RATE = 9% ÷ 12 = 0.75%

FV = $0

The formula is given below:

= -PMT(RATE;NPER;PV;FV;TYPE)

After applying the above formula, the monthly interest payment is $74.70

hence, the  first month payment of interest is $74.70

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g Assume that a hypothetical economy with an MPC of 0.8 is experiencing severe recession. Instructions: In part a, round your an
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First find the spending multiplier which is a multiplier that shows how Aggregate demand increases as a result of additional spending.

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2 years ago
Below are the expected afterminustax cash flows for Projects Y and Z. Both projects have an initial cash outlay of​ $20,000 and
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3 years ago
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Healthy Measures Inc. produces a Bath and Gym version of its popular electronic scale. The anticipated unit sales for the scales
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Answer:

Explanation:

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Northern region                     25,500                              33,300

Southern region                     27,500                              28,900

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Closing inventory                     900                                     2,700    

Total units to be produced     52,700                               62,400

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3 years ago
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