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julia-pushkina [17]
4 years ago
14

A 20-year loan of 2,500 is repaid with payments at the end of each year. Each of the first ten payments equals 175% of the amoun

t of interest due. Each of the last ten payments is X. The lender charges interest at an annual effective rate of 5%. Calculate X
Business
1 answer:
Firdavs [7]4 years ago
4 0

Answer:

The answer is 156.25

Explanation:

In the 1st year:

- Interest: 2,500 x 5% = 125

- Payment amount: 125  x 175% = 218.75

- Principal: 218.75 - 125 = 93.75

Hence, the principal payment in 20 year loan as follow:

10 x 93.75 + 10 x X = 2,500

=> X = 156.25

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Which of the following is a start up cost associated with opening a business?
Alenkasestr [34]
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3 years ago
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andriy [413]

Answer:

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3 0
3 years ago
A contribution margin income statement A. reports gross profit for the period. B. does not report operating income. C. categoriz
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Answer:

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Explanation:

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Answer:

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