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
lukranit [14]
3 years ago
7

Jane bought a $3,000 audio system and agreed to pay for the purchase in 10 equal annual installments beginning one year from tod

ay. The interest rate is 12%. What is the amount of the annual installment?
Business
1 answer:
Papessa [141]3 years ago
7 0

Answer:

Jane

The amount of the annual installment is:

$530.98

Explanation:

Present value of audio system = $3,000

Interest rate (r) = 12%

Number of years for installments (n) = 10 years

The future value = PV * (1 + r)∧n

= $3,000 * (1 + 0.12)∧10

= Future value of the audio system

= $9,318 ($3,000 * 3.106)

Jane will need to contribute $530.98 at the end of each period to reach the future value of $9,318.00.

From online financial calculator:

FV (Future Value) $9,318.00

PV (Present Value) $3,000.15

N (Number of Periods) 10.000

I/Y (Interest Rate) 12.000%

PMT (Periodic Payment) $530.98

Starting Investment $0.00

Total Principal $5,309.78

Total Interest $4,008.22

You might be interested in
Price level stability necessitates intelligent management or regulation of which of?
Kipish [7]

Price level stability necessitates intelligent management or regulation for money supply and interest rates.

Money supply alludes to how much money or cash coursing in an economy. The money supply is the aggregate sum of money present in an economy at a specific level.

The record of the absolute money supply is kept by the Central Bank of the country.

Interest rates is the sum a bank charges a borrower and is a level of the head - the sum credited. The financial cost on a credit it's regularly noted on a yearly premise known as the Annual Percentage Rate (APR).

To learn more about Money Supply.

brainly.com/question/12225192

To learn more about Interest Rates.

brainly.com/question/14556630

#SPJ4

3 0
1 year ago
What are 2 types of goods/services that lends themselves well to non-price competition?
Luden [163]
<h2>Answer:Non-price competition typically involves promotional expenditures (such as advertising, selling staff, the locations convenience, sales promotions, coupons, special orders, or free gifts), marketing research, new product development, and brand management costs.</h2>

Explanation:

4 0
3 years ago
"Which of the following are covered under the Securities Exchange Act of 1934? I Registration of new issues II Stabilization of
OleMash [197]

Answer: II. stabilization of new issues

III. registration of exchanges

IV. registration of broker-dealers

Explanation:

The Securities Exchange Act of 1934 was put in place in order to be in charge of security trading.

From the options, those that are covered under the Securities Exchange Act of 1934 include the stabilization of new issues, the registration of exchanges and the registration of broker/dealers.

It should be noted that the Securities Exchange Act of 1934 does not cover the registration of new issues.

6 0
3 years ago
Just because a firm is able to use its resources, capabilities, and competencies to
Arte-miy333 [17]

mind fact sub happy wala birthday quiz frist video

3 0
3 years ago
Elasticity is the percentage change in quantity divided by the percentage change in _____.
Snezhnost [94]

Answer:

The price.

Explanation:

Elasticity is the percentage change in quantity divided by the percentage change in price.

6 0
3 years ago
Other questions:
  • If a government is interested in knowing the total income of its citizens (including remittances, or money earned in a foreign c
    15·2 answers
  • ​michelle's business produces ceramic cups using​ labor, clay, and a kiln. she produces cups using a fixed proportion of labor a
    9·1 answer
  • A risk is something that causes the possibility of a loss.
    10·2 answers
  • The importance of knowing how to act or behave in a given situation is a very new concept. True or false
    15·1 answer
  • Suppose a stock had an initial price of $58 per share, paid a dividend of $1.90 per share during the year, and had an ending sha
    12·1 answer
  • Because all work ultimately entails some human interaction, effort, or involvement, Bossidy and Charan believe that focusing on
    14·1 answer
  • A firm has a Cobb-Douglas production function for its inputs of capital and labor. The firm is currently paying $4 per labor hou
    12·1 answer
  • You just received a $5,000 gift from your grandmother. You have decided to save this money so that you can gift it to your grand
    9·1 answer
  • Arona Corporation manufactures canoes in two departments, Fabrication and Waterproofing. In the Fabrication Department, fibergla
    9·1 answer
  • I lost my debit card on my house but it’s the temporary and my real card is late so i need to call my bank but it ask for my car
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!