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2 years ago

Why would applying to as many scholarships as possible reduce your student debt?

Business

2 answers:

Anna35 [415]2 years ago

7 0

Answer:

......................

PolarNik [594]2 years ago

5 0

Most scholarships provide financial/tuition aid. This means more of your tuition is paid out of the organization/government's pocket, versus out of your own. With no scholarships, you'd likely need to get a loan to fully pay off tuition; which would launch you into student debt. With partially paid off tuition, you don't need nearly as much money for tuition (but likely still need a loan), so this debt would be reduced by quite a bit.

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Matt inherited as a trust a fifteen-year annuity-immediate with annual payments. He has been told that the annuity payments earn

Pavel [41]

Answer:

effective annual interest rate = 6.32%

annual payment = $1,585

Explanation:

I believe that this is an ordinary annuity, so we can use the future and present value of an ordinary annuity formula:

FV = annual payment x FV annuity factor, so annual payment = FV / FV annuity factor

PV = annual payment x PV annuity factor, so annual payment = PV / PV annuity factor

we can equal both equations:

PV / PV annuity factor = FV / FV annuity factor

FV / PV = FV annuity factor / PV annuity factor

$37,804.39 / $15,077.10 = FV annuity factor / PV annuity factor

2.5074 = FV annuity factor / PV annuity factor

the easiest way to solve this is to use an annuity table since we already know that there are 15 periods (I used an excel spreadsheet):

%,15 periods FV annuity factor PV annuity factor FV/PV

1 16.097 13.865 1.1609

2 17.293 12.849 1.34586

3 18.599 11.938 1.55797

4 20.024 11.118 1.80104

5 21.579 10.380 2.07890

6 23.276 9.7122 2.3966

7 25.129 9.1079 2.7590

8 27.152 8.5595 3.1721

9 29.361 8.0607 3.6425

10 31.772 7.6061 4.4112

The interest rate must be between 6 and 7%:

%,15 periods FV annuity factor PV annuity factor FV/PV

6 23.276 9.7122 2.3966

6.1 23.45404 9.6461 2.43145

6.2 23.63369 9.5858 2.46549

6.3 23.81491 9.52467 2.50034

6.31 23.83312 9.51851 2.50387

6.32 23.85135 9.51236 2.5074

6.4 23.99773 9.46337 2.53585

effective interest rate = 6.32% per year

annual payment = $37,804.39 / 23.85135 = $1,585

6 0

3 years ago

Which economic term is used to describe someting tangible (you can hold it and

uysha [10]

Answer:

C.good

Explanation:

A business can offer either goods or services. Goods are tangible products that can be touched, seen, smelled, eaten, etc., depending on the product, e.g. Coke, chocolate, cars, etc. Services are intangible, meaning that they cannot be seen or touched, they are experienced, e.g. going ot the movies, staying at a hotel, etc.

3 0

3 years ago

What is the name of the Inca tot of stock market prices that averages 30 selected industrial stocks?

nydimaria [60]

Answer:

Explanation:

I'm smart boy that's y because y = u and u nedda pay attention in class blood

6 0

3 years ago

You are a dual income, no kids family. You and your spouse have the following debts (total): mortgage, $350,000; auto loan, $18,

Stells [14]

Answer:

$202,200

Explanation:

DINK (double-income no kids): It suggest to add half all the marriage debt to the funeral expenses:

To the funeral expenses you will add half of the debts:

350,000 / 2 = 175,000 for mortgage

18,600 / 2 = 9, 300 for atomobile loan

5,200 / 2 = 2,600 for credit card debt

9,800 / 2 = 4, 900 other debt

funeral exp 10, 400

insurance: 202,200

8 0

3 years ago

Accoints payable ledger contains all of the balance sheet and income tstatmeent accounts true or false

xeze [42]

False, only shows transactions and amounts owed.

3 0

3 years ago