Based on the amount borrowed and the interest per year, Big Brothers, Inc will pay an annual payment of $59,973.15.
<h3>How much will Big Brothers, Inc. pay annually?</h3>
This can be found by using the present value of an annuity formula because the annual payment will be constant and therefore like an annuity.
Formula is:
Present value of annuity = Annual payment x ( 1 - (1 + rate) ^ -number of periods) / rate
Solving gives:
267,999 = Amount x ( 1 - ( 1 + 18.16%)⁻¹⁰) / 18.16%
267,999 = Amount x 4.46865
Amount = 267,999 / 4.46865
= $59,973.15
Find out more on loan present value at brainly.com/question/15088278.
#SPJ1
Answer:
sorry
Step-by-step explanation:
Given:
Height of statue or liberty from the ground = 305 feet
Model is 
the actual size of the statue of liberty.
To find:
The height of the model of statue.
Solution:
According to the question,
Model = of the actual size
Therefore, the height of the model of statue is 3.05 feet.
