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3 years ago

John borrowed $6,000,000 for a period of 15 years.is interest rate is 8%. How much interest will John pay in all?

Business

1 answer:

Reil [10]3 years ago

7 0

Based on the information given the amount of interest that John pay in all is his $7,200,000.

<h3>Interest:</h3>

Using this formula

Interest=Amount borrowed×Number of years×Interest rate

Where:

Amount borrowed=$6,000,000

Number of years=15 years

Interest rate=8%

Let plug in the formula

Interest=$6,000,000×15×8%

Interest=$7,200,000

Inconclusion the amount of interest that John pay in all is his $7,200,000.

Learn more about interest here:brainly.com/question/16134508

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Catering Corp. reported free cash flows for 2008 of $8.17 million and investment in operating capital of $2.17 million. Catering

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Answer:

$11.59 million

Explanation:

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Free cash flow = Operating cash flow - Investment in operating cash flow

$8.17 million = Operating cash flow - $2.17 million

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For calculating the earning before interest

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3 years ago

Anthony, a self-employed plumber, makes a maximum contribution to a SEP for his employee, Debra. Debra's compensation is $40,000

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Answer:

$10,000

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1. 25% of total compensation paid to employee.

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3 years ago

An insurance firm agrees to pay you $3,310 at the end of 20 years if you pay premiums of $100 per year at the end of each year f

azamat

Answer:

6.43%

Explanation:

The internal rate of return shall be determined by the Insurance firm using the following mentioned method:

Cash flows Year involved Present [email protected]% Present [email protected]%

($100) 1-20 ($851) ($1,487.75)

$3,310 20 $492 $1,832.67

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IRR=10%+(-$359/-$359-$344.92)*(3%-10%)

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Answer:

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