Answer:
Annual payment= $3,250.77
Explanation:
Giving the following information:
You are thinking of purchasing a home. The house costs $300,000. You have $43,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 6% per year.
FV= 300,000 - 43,000= $257,000
i=6%
n= 30
Annual payment= ?
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (257,000*0.06)/{[1.06^30]-1}= $3,250.77
Answer:
Friendly's would say you were paying <u>1042.86% APR</u>.
Explanation:
Annual percentage rate (APR) can be described as the yearly interest rate that is paid by a borrower to a lender which is expressed in percentage term without taking compounding into consideration.
Annual Percentage Rate (APR) can be determined using the following formula:
APR = {[(Fees + Interest amount) / Principal / n] * 365} * 100 ……………… (1)
Where;
APR = ?
Fees = 0
Interest amount = Amount to repay - Amount to borrow = $12.00 - $10.00 = $2.00
Principal = Amount to borrow = $10.00
n = Number of days in the loan term = One week = 7 days
Substituting the values into equation (1), we have:
APR = {[(0 + 2) / 10 / 7] * 365} * 100
APR = 1042.86%
Therefore, friendly's would say you were paying <u>1042.86% APR</u>.
Answer:
A. 100,000 equivalent units
Explanation:
Calculation for what the Total equivalent units for Material P under the weighted-average method are calculated to
First step is to calculate the Unit transferred out
Unit transferred out = 28,000+72,000-16,000
Unit transferred out =84,000
Now let calculate the Total equivalent units for Material P
Total Equivalent unit of material P = 84,000+16,000
Total Equivalent unit of material P = 100,000
Therefore the Total equivalent units for Material P under the weighted-average method are calculated to 100,000 equivalent units
Answer:
a. The factor distribution of income describes the relationship between
3. capital and total income
b. The factor market and factor prices
1. allocation of income.
Explanation:
In economics, income distribution is defined as how a nation's total GDP is distributed amongst its population. On the other-hand, The factor distribution of income is the division of total income among labor, land, and capital. <em>Factor prices, which are set in factor markets, helps in the determination of the factor distribution of income.</em>
Answer:
C is the answer. The service provided at Toy Corner exceeds customer expectations.
Explanation:
When a store offers a broad assortment of goods tailored for different age groups, it will really attract more patronage.
But, when it ensures the home-delivery of goods that are not available at its store to customers who have placed orders, then it can be said to be exceeding the expectations of its customers.
This is moreso, when such home-delivered goods are sold to customers at discounted prices. This shows that the store not only cares for its customers, it surely does not want the customers to leave its store to buy goods from others. This ensures customer loyalty and continued patronage.
The approach is very competitive and customer-friendly.
