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ololo11 [35]
3 years ago
7

A solar energy system is to be paid for with a loan in the amount of $2700. The interest rate on the loan is 10.5%/year, and the

period is 8 years. The market discount rate is 9.5%/year. a. Compute the annual payment to the lender b. Compute the monthly payment for the same loan assuming that i
Business
1 answer:
jeyben [28]3 years ago
4 0

Answer:

The annual payment to the lender is $=\$ 515.35$

The monthly payment for the same loan assuming is $=\$ 41.69$

Explanation:

Annual Payment $=\frac{\$ 2,700}{5.2392}$

$=\$ 515.35$

Monthly Interest Rate Monthly Interest Rate $=\frac{\text { Annual Interest Rate }}{\text { Number of Months in Year }}$

$=\frac{10.50 \%}{12}$

$=0.875 \%$

Monthly payment:

$=\frac{\$ 2,700}{64.77}$

$=\$ 41.69$

Learn more about loan refer:

  • brainly.com/question/9302251

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<h3>What is accounting equation?</h3>

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One of the most important key elements in Schein’s four key elements according to me would be a common purpose because, without having a common purpose, people working in the organization will be disoriented and directionless. Thus, it can hamper the ultimate goal of the organization.

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A corporation with a clear purpose or undertaking is one that is simple to recognize and manage. A common purpose unifies personnel and facilitates them to understand the corporation’s direction.

Hence, according to me, among all the Schein’s four key elements in the organization’s structure, the Common purpose is the most key element.

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