Business, 28.08.2021 02:30 bbyitskeke1242
An extremely important application of compound interest involves amortized loans. Some common types of amortized loans are automobile loans, home mortgage loans, student loans, and many business loans. Each loan payment consists of interest and repayment of principal. This breakdown is often developed in an amortization schedule. Interest is -Select- in the first period and -Select- over the life of the loan, while the principal part repayment is -Select- in the first period and it -Select- thereafter. Quantitative Problem: You need $12,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized loan. He would like you to make annual payments for 4 years, with the first payment to be made one year from today. He requires a 9% annual return. Do not round intermediate calculations. Round your answers to the nearest cent. What will be your annual loan payments
Answers: 2
Business, 22.06.2019 14:50
Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of
Answers: 3
Business, 22.06.2019 19:50
Ichelle is attending college and has a part-time job. once she finishes college, michelle would like to relocate to a metropolitan area. she wants to build her savings so that she will have a "nest egg" to start her off. michelle works out her budget and decides she can afford to set aside $9090 per month for savings. her bank will pay her 4 %4% per year, compounded monthly, on her savings account. what will be michelle's balance in five years?
Answers: 3
An extremely important application of compound interest involves amortized loans. Some common types...
Biology, 05.05.2020 13:42
English, 05.05.2020 13:42
Mathematics, 05.05.2020 13:42
Mathematics, 05.05.2020 13:42
Mathematics, 05.05.2020 13:42
English, 05.05.2020 13:42
Mathematics, 05.05.2020 13:42
Mathematics, 05.05.2020 13:42
Mathematics, 05.05.2020 13:42
French, 05.05.2020 13:43
English, 05.05.2020 13:43
Social Studies, 05.05.2020 13:43
Mathematics, 05.05.2020 13:43
Chemistry, 05.05.2020 13:43
Mathematics, 05.05.2020 13:43
Mathematics, 05.05.2020 13:43