Answer:
$427,011.92
Explanation:
We use the present value formula i.e to be shown in the attached spreadsheet
Given that,
Future value = $0
Rate of interest = 7.5%
NPER = 15 years
PMT = $45,000
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
And, in type we write the 1 instead of 0
So, after solving this, the present value is $427,011.92
Answer:
Explanation:
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Answer:
5%
Explanation:
nominal interest rate = 5%
real interest rate = nominal interest rate - increase in GDP deflator (inflation rate) = 5% - 2% = 3%
The nominal interest rate is the interest rate earned or charged without considering the effects of inflation. The real interest rate adjusts the nominal interest rate against the year's inflation rate.
Answer:
See explanation section
Explanation:
See the image below to get the answer:
Answer:=Jones recognizes $386.9 as interest
Explanation:
Fiscal year ending July 31st
there are 23 days between when the cash as issued ie July 8 and the end of the fiscal year on July 31st
Given amount or Principal amount = $75,700
Rate= 8%
Interest = Principal x Rate x Time
$75,700 x 8% x 23/360=$75,700 x 0.08 x 23/360
=$386.9
Jones recognizes $386.9 as interest in the current fiscal year.
