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OLEGan [10]
2 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]2 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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Answer:

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Hill Corporation issued $2,100,000 of 8% bonds at 98 on January 2, 2019. Interest is paid semiannually on June 30 and December 3
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Answer:

Hill Corporation

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Explanation:

a) Data and Calculations:

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2 years ago
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Answer:

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