Answer: 2.72%
Explanation:
An annuity is a series of payments that is made at equal intervals. Examples are monthly home mortgage payments, regular deposits to a savings account, pension payments.
Number of payment period (NPER) = 12 years
Payment per period (PMT) = $15000
Amount needed, PV = $156000
The formula for an annuity is calculated as:
P = PMT x ((1 – (1 / (1 + r) ^ -n)) / r)
= Rate(12,15000,-156000,1)
Rate = 2.72%
Answer:
D
Explanation:
I got this answer due to how the costumer preference had nothing to due with the price
Answer: To send a copy of the message to multiple recipients without revealing the entire list of recipients.
I hope this helped! (:
0.05
To find the required reserve ratio, we need to know the total deposits and the required reserves amount.
Next, we divide the required reserve amount by the total deposits.
$10,000 / $200,000 = 0.05
The 0.05 is the required reserve ratio for First Bank of Commerce.