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Simora [160]
3 years ago
15

Gerritt wants to buy a car that costs $30,000. The interest rate on his loan is 5.59 percent compounded monthly and the loan is

for 7 years. What are his monthly payments
Business
1 answer:
Nina [5.8K]3 years ago
3 0

Answer:

Using the formula to calculate the monthly payment: (rate*Present Value) /(1-(1+rate)^(-period). You can use excel to do the calculations with the function: PMT(rate;period;present value)

The amount will be US$ 1,694.57.

To do the calculation you have to remind that the rate must be in the same period, that means that if the interest is in a monthly period the period must be monthly too. In this case the period have to be 84 months (which is 7 years).

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You are considering purchasing the Zions Bank $4.50 preferred stock. If you require a 4% return on this investment, what should
wariber [46]

Answer:

option $112.50

Explanation:

Data provided in the question:

Value of the Zions Bank preferred stock =  $4.50

Required rate of return on investment, r =  4% = 0.04

Now,

Current stock price can be calculated using the relation:

Required rate of return = \frac{\textup{Dividend}}{\textup{current stock price}}

or

0.04 = \frac{\$4.50}{\textup{current stock price}}

or

current stock price =  \frac{\$4.50}{\textup{0.04}}

or

current stock price = $112.5

Therefore,

we should be willing to pay $112.50

Hence,

The answer is option $112.50

4 0
2 years ago
Salvatore and Annette are sales managers for Acme USA. Both work full-time in the Acme offices under the same manager, and share
harina [27]

Answer:

<em>A</em>

Explanation:

Acme classified Annette as an independent contractor and as such, isn't entitled to certain benefits as compared to Salvatore that was hired as an employee. A contracting staff's timing and work benefits are always limited in comparison to that of an actual employee.

6 0
3 years ago
Read 2 more answers
You need to have $30,250 in 17 in years. You can earn an annual interest rate of 4 percent for the first 5 years, 4.6 percent fo
mylen [45]

Answer:

The amount that has to be deposited today is $6205.63

Explanation:

The given parameters are;

The annual interest rate for the first 5 years = 4 percent

The annual interest rate for the next 4 years = 4.6 percent

The annual interest rate for the final 8 years = 5.3 percent

Let the amount deposited be X, we have;

X × (1 + 0.04)⁵ + X × (1 + 0.04)⁵×(1.046)⁴ + X × (1 + 0.04)⁵×(1.046)⁴ ×(1.053)⁸ = $30,250

X ((1.04)^5 + (1 + 0.04)^5×(1.046)^4 + (1 + 0.04)^5×(1.046)^4 ×(1.053)^8) = $30,250

X × 4.875 = $30,250

X = $30,250/$4.875 = $6205.63

The amount that has to be deposited today = $6205.63.

6 0
3 years ago
Derive a minumum cost circuit using nand gates for
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4 0
2 years ago
The emirates group has a workforce comprised of individuals with 160 different nationalities. Suppose that one individual is con
spin [16.1K]

The individual is being Ethnocentric.

Ethnocentrism, whether conscious or unconscious, is a term that applies to cultural or ethnic bias, where individuals see the world from the perspective of their own group and establish their own group as a prototype. And evaluate all other groups in relation to that ideal.

People with ethnocentrism judge other cultures by comparing them with their immediate culture. Ethnocentrism Americans may overlook the unique charm of any city in the world compared to New York City. If you use the standards of your own culture to judge another culture, you are ethnocentric.

"Ethnocentrism" is a commonly used word in circles where ethnicity, interethnic relationships, and similar intergroup issues are important. The usual definition of this term is "think your group is better than the other" or "decide that the other group is inferior to your group".

Learn more about Ethnocentric here: brainly.com/question/4458198

#SPJ1

8 0
2 years ago
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