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ratelena [41]
3 years ago
11

You have graduated from college but unfortunately have $39,000 in outstanding loans. The loans require payments of $3,435 per ye

ar, which covers interest and principal repayment (that is, the loan has the same basic features as a mortgage). If the interest rate is 4 percent, how long will it take you to repay the debt
Business
1 answer:
vladimir1956 [14]3 years ago
3 0

Answer:

15.44 years

Explanation:

Using both excel rate function and financial calculator, the time taken to repay the debt can be computed thus:

Excel rate function:

=nper(rate,pmt,-pv,fv)

rate= interest rate=4%

pmt=yearly payment=c

pv=loan oustanding=-39000

fv=the balance after all payments should be zero=0

=nper(4%,3435,-39000,0)= 15.44 years

Financial calculate

PMT= 3435

RATE=4

PV=-39000

FV=0

CPT N=15.44 years

This means a payment of $3,435 per year for 15 years  and $ 1,511.40  ($3,435*0.44) in the sixteenth year

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Answer:

B. To weigh the various alternatives and choose a course of action

Explanation:

The major steps involved in a proper decision-making process include; Identifying the problem, understanding the problem by obtaining the necessary information, developing alternatives, choosing the best alternative that would address the ethical issue at hand, and implementing the best alternative.

The aim of the entire process of decision-making would be faulted if at the end, a course of action is not taken. The decision made at the end of the day, should address the initial concern raised. This decision would also need to be reviewed to ensure that it is the right step.

Determining ways to maximize profit for the company may not be the issue at hand, as several factors could inform the decision making process.

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3 years ago
An operation that closes due to an imminent health hazard can reopen only after getting approval from what agency?
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Answer:

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Explanation:

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However, according to the FDA food code, <em>"if immediate corrective action is taken, there is no "Imminent Health Hazard," meaning</em> the operation can get approval from the agency to reopen.

3 0
3 years ago
Internationalization is the vision of creating one world unit, a single market entity.
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Iternationa;zation is the vision of creating one world unit a single market entity, b.
3 0
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Timothy McGreggor, Attorney, P.C., began the year with total assets of $129,000, liabilities of $77,000, and stockholders’ equit
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Answer:

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Explanation:

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Add: Net income for the year                  $  79,000

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7 0
3 years ago
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charle [14.2K]

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