Answer:
$509
Explanation:
First, we find the lump sum to pay under the bank terms. The interest rate is 0.5% monthly, which is equivalent to 6.2% annually.
The formula is:
Where:
- P = Present value
- i = interest rate
- n = number of compounding periods of the interest rate
- X = lump sum we need to find
Now, we simply plug the amounts into the formula:
Next, we find the value of the lump sum under the company's preferred terms:
Finally, we susbtract the two figures to find the difference:
Flooding because of dam failures, subsidence, etc. are secondary effects, whereas shaking of structures, liquefaction, etc. by faulting are direct damage.
<h3>What are secondary catastrophic effects?</h3>
Secondary effects are indirectly associated with the occurrence of a catastrophic event (in this case, a earthquake).
Moreover, direct damage makes reference to eventual immediate effects that such catastrophic events may have.
In conclusion, flooding because of dam failures, subsidence, etc. are secondary effects, whereas shaking of structures, liquefaction, etc. by faulting are direct damage.
Learn more about immediate catastrophic effects here:
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<span>Patagonia region is located at the southern end
of South America which is shared by the country Argentina and Chile. Patagonia
comprises of two coast and two countries lies inside Patagonia. The main source
of income in the Patagonia region is thru mining, livestock, and by
agricultural products like wheat and fruits.</span>
