1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
babunello [35]
3 years ago
6

Cal Lury owes $25,000 now. A lender will carry the debt for four more years at 10 percent interest. That is, in this particular

case, the amount owed will go up by 10 percent per year for four years. The lender then will require that Cal pay off the loan over the next 12 years at 13 percent interest. What will his annual payment be
Business
1 answer:
vitfil [10]3 years ago
4 0

Answer:

$6,185.31

Explanation:

Value of debt at end of 4 years = $25,000 * (1 + 10%)^4

Value of debt at end of 4 years = $25,000 * (1.10^4)

Value of debt at end of 4 years = $25,000 * 1.4641

Value of debt at end of 4 years = $36,602.50

Let x be the annual payments

x * [1 - (1 + 13%)^-12] / 13% = $36,602.50

x * [1 - (1.13)^-12] / 13% = $36,602.50

x * [1 - 0.2307059] / 13% = $36,602.50

x * 0.7692941/0.13 = $36,602.50

x * 5.91764692 = $36,602.50

x = $36,602.50/5.91764692

x = 6185.313266375142

x = $6,185.31

So therefore, his annual payment will be $6,185.31.

You might be interested in
You have a small business that makes $50,000 accounting and economic profit for you. As a disabled person, you must work at home
kifflom [539]

Answer: This means: "d. Your economic profit has gone down and your accounting profit has stayed the same."

Explanation: The difference between the accounting and economic benefit is associated with the type of cost that each includes:

The accounting benefit is nothing more than the difference between income and cost.  In this case it is still $50000.

The economic benefit includes not only explicit costs. The economic benefit is the difference between income and total costs (explicit and implicit). Therefore, this benefit is less than the accounting benefit. Because in this case the cost of working at home is considered.

5 0
3 years ago
The cases filed at The Cross Company related to gender discrimination include one in which a 33-year-old sales representative wa
Romashka-Z-Leto [24]

Answer:

Title VII of the CRA

Explanation:

Title VII of the Civil Rights Act (CRA) is a landmark federal law that aims to protect employees against discrimination based on race, colour, sex, nation of origin, or religion.

The act was made law in 1964.

In the given scenario a female sales representative with excellent performance review was not promoted for 8 years, while Jim a male sales representative was promoted in just 18 months.

This is a gender based discrimination and is covered by Title VII of the CRA.

Age discrimination does not apply because it addresses discrimination of employees with minimum age of 40 years.

Equity act requires that employees on the same job role are compensated equally. This does not also apply.

Rehabilitation act prevents discrimination based on disability. This does not also apply

5 0
3 years ago
How would a computer enhance the productivity of a business
Bas_tet [7]
A computer would enhance the productivity of a business because it would produce better communication and would also help things be accomplished faster. hope that helps if not lmk

7 0
3 years ago
Read 2 more answers
Sharon is purchasing a food processor and has done extensive research on all the models available in the market. she is convince
Scrat [10]
Sharon is in the "purchase decision and purchase act" <span>stage of consumer decision process.

</span><span>The buying decision process is the basic leadership process utilized by buyers with respect to advertise exchanges previously, during, and after the buy of a good or administration. It can be viewed as a specific type of a cost– advantage examination within the sight of various options.The five stages of this process includes:

Problem Identification
Information Search
Evaluation of Alternatives
Purchase Decision
Post-purchase Decisions</span>
8 0
3 years ago
Does everyone have an inner voice that is not subject to control ?<br> A. True <br> B. False
Blababa [14]
False is the correct answer.
6 0
3 years ago
Read 2 more answers
Other questions:
  • When does a substance releases heat?? (it's about changing state of matter)
    15·1 answer
  • If menu costs were​ eliminated, the​ short-run aggregate supply curve will be
    14·1 answer
  • Consider two points on the production possibilities frontier (PPF): point A, at which there are 50 oranges and 100 apricots, and
    7·1 answer
  • Alfonso wants to know what the cost of living would be in four different cities. He looks at circular ads from each of the citie
    15·1 answer
  • Country A and Country B have had an informal trading arrangement for many years wherein merchants on the border of the countries
    10·1 answer
  • Arthur, an Air Force major, received a permanent change of station transfer from Alabama to Spain. His spouse did not accompany
    9·1 answer
  • Walters Corporation sells radios for $50 per unit. The fixed costs are $525,000 and the variable costs are 60% of the selling pr
    9·1 answer
  • (a) Based on the information provided, describe the ways in which Volkswagen did not fulfill the requirements of effective corpo
    11·1 answer
  • What is a public good?
    8·1 answer
  • Help will give Brainly points
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!