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OLEGan [10]
3 years ago
11

Ken just purchased new furniture for his house at a cost of $16,700. The loan calls for weekly payments for the next 6 years at

an annual interest rate of 11.17 percent. How much are his weekly payments
Business
1 answer:
sergij07 [2.7K]3 years ago
8 0

Answer: $73.51

Explanation:

No. of periods = 6 * 52 weeks = 312 weeks

Weekly Interest rate = 11.17%/52 = 0.2148%

Weekly Payment = Cost * (rate / ( 1 - ( 1 + r ) ^ -n))

= 16,700 * (0.2148% / (1 - (1 + 0.2148%)⁻³¹²))

= $73.51

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<span>Hewlett-packard is multinational information technology company based in America.
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6 0
3 years ago
C has a $100,000 traditional whole life insurance policy with a $30,000 cash surrender value. He applies for and receives a $10,
Ivenika [448]

Answer:

If C were disabled, his beneficiaries would receive $70,000, less any outstanding interest charges

Explanation:

Policy loans can generally amount up to 100% of the cash surrender value of the policy, in this case C only requested $10,000 (1/3 of the cash value). This type of loan is fully collateralized by the cash value of the policy and the borrower can even miss some payments or pay on a later date because interests keep adding.

This type of loan can carry a fixed or variable interest rate, depends on the insurer.

If C surrenders his policy, he will receive the total cash surrender value minus the loan amount = $30,000 - $10,000 = $20,000

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3 years ago
Jacob lost his wallet but did not report his credit card lost until 3 days later. When he checked his balance, he saw 5 unauthor
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4 0
3 years ago
Read 2 more answers
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Answer:

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8 0
3 years ago
The standard deviation of return on investment A is 10%, while the standard deviation of return on investment B is 5%. If the co
ahrayia [7]

Answer:

<em>The answer is 60.</em>

Explanation:

<em>The First step in solving the example given, is to recall the following steps to be taken </em>

<em>The standard deviation of return on investment A =10%</em>

<em>The standard deviation of return on investment B =5%</em>

<em>The co-variance of returns both on A and B =.0030</em>

<em>The next step is as follows</em>

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<em>Therefore the correlation coefficient between the returns of A and B is 60</em>

8 0
3 years ago
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