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Korolek [52]
3 years ago
10

You are borrowing money to buy a car. If you can make payments of $320 per month starting one month from now at an interest rate

of 12%, how much will you be able to borrow for the car today if you finance the amount over 4 years
Business
1 answer:
Lilit [14]3 years ago
7 0

Answer:

the present value is $12,151.67

Explanation:

The computation of the amount that should be borrowed today i.e. present value is shown below:

Given that

PMT = $320

Rate of interest = 12 ÷ 12% = 1%

NPER = 4 × 12 = 48

FV = $0

The formula is shown below

= -PV(RATE;NPER;PMT;FV;TYPE)

After applying the above formula, the present value is $12,151.67

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Anettt [7]
Something can be categorized as a need if it is needed of your survival as a human being, such as food, shelter & clothing. If it is something that does not affect your survival, it is considered a want, such as video games and a new denim jacket. Clothing is not always a need, like if you want to go buy a suit, you won't use that very often, which makes that item of clothing a want. Hopefully, that helps.
7 0
4 years ago
All of the following are the responsibilities of the registrar EXCEPT the registrar:
Makovka662 [10]

Answer:

(A) Distributes dividends, corporate reports, and voting materials

Explanation:

  • A registrar is an official responsible for keeping a register or official records

Their duties/responsibilities include:

- Act as a watchdog over the transfer agent

- Account for the number of shares issued and canceled

- Maintain the integrity of the record of all shareholder names

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7 0
3 years ago
An appraiser must not allow the intended use of an assignment or a clientâs objectives to cause the assignment results to be ___
attashe74 [19]

Answer:

biased

Explanation:

In general an appraiser must not allow assignment results to be biased. This is strictly stated in the Standards Rule 1-1(a) which states the following: "An appraiser must “be aware of, understand, and correctly employ those recognized methods and techniques that are necessary to produce a credible appraisal." Therefore, the appraiser must do everything in his/her power to provide credible and non-biased appraisals everytime.

4 0
4 years ago
Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rat
LiRa [457]

Answer:

6.00%

Explanation:

Rate of return can be calculated using RATE function in excel or I/Y on calculator or using the formula for annuity

Annuity Rate = RATE(nper=8, pmt=1100, pv=-6,830.77, fv = 0, 0)

Annuity Rate = 0.06000118

Annuity Rate = 6.00%

7 0
3 years ago
If interest rates​ rise, bonds become more attractive to​ investors, so bond prices will rise.​ Therefore, when interest rates​
nikklg [1K]

Answer:

The statement is false.

Explanation:

Bond prices and interest rates have an inverse relationship, as the interest on a bond rises its price will fall and vice versa.

For example if a bond has a face value of $80 and at maturity it pays $100, it means the interest rate is 20% and a $20 gain on the investment. At the high interest the investment is attractive, price of bonds is ($80) is low.

If however interest falls to 5% for the same bond. It will now have a face value of $95 (price rises) and a gain of $5 (interest falls).

So an inverse relationship exists between a bond's price and the interest rate.

8 0
3 years ago
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