You want to buy a car, and a local bank will lend you $25,000. the loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 4% with interest paid monthly. what will be the monthly loan payment? what will be the loan's ear? do not round intermediate calculations. round your answer for the monthly loan payment to the nearest cent and for ear to two decimal places.

Monthly payment: 460.41 dollars

Effective rate:  4.07%

Explanation:

we will calculate the PTM of an annuity of 25,000 over 5 year at 4%

PV  $25,000.00

time60

rate0.003333333

C  $ 460.413

Now we need to know the effective rate, which is the same as 4% compounding monthly:

effective  rate = 0.040741543 = 4.07%

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.