Loan 1 and Loan 2 have the same principal and interest rate but different monthly payments and total loan costs, therefore, the loan repayment periods would be different.
<h3>What is the loan repayment period?</h3>
The loan repayment period refers to the time it takes to repay a loan.
When the amount being repaid is smaller, the loan repayment period tends to be longer, and vice versa.
Data and Calculations:
Loan Repayment Principal Interest Rate Monthly Total cost
Period Payment of the loan
Loan 1 5 years $5,000 6.47 percent $98 $5,866
Loan 2 10 years $5,000 6.47 percent $57 $6,804
Thus, the loan repayment periods are affected by the monthly payments and total costs to reflect the loan terms.
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Answer:
sales branches.
Explanation:
A sales branch can be defined as a wholesaler owned by a manufacturer and takes product title, assumes the risk associated with the ownership of this product, resells the product, as well as providing services to the end users or consumers. Thus, it's a form of business management set up by manufacturers in order to improve on their inventory control, sales, as well as the promotion of goods and services.
In this scenario, the management at Kohler Inc. is using sales branches in several key cities because it provide support services for its sales force in those geographical areas, carry inventory, as well as offering credit and other services to its retail plumbing customers.
Answer:
$6910.70
Explanation:
At the end of each year, the account balance will be 1.05 times the value at the beginning of the year. Thus, at the end of year 3, the value is 1.05^3 times the original value.
$8000 = (deposit)×1.05^3
deposit = $8000/1.05^3 ≈ $6910.70
James should deposit $6910.70 today.
Future value FV = $325,000
Investment I = $40,000
Number of years n = 16
Annual rate = r
We have the equation FV = I (1 + r) ^n => 325000 = 40000(1 + r)^16
(1 + r)^16 = 325 / 40 => 1 + r = (325 / 40) ^ (1/16) => 1 + r = 1.1398
Rate of Interest r = 1.1398 - 1 = 0.1398 that is 13.98%
Annual rate of Interest r = 13.98%
