Assuming an interest rate of 8% compounded annually, answer the following questions: (a) How much money can
Question:
Assuming an interest rate of 8% compounded annually, answer the following questions:
(a) How much money can be loaned now if $8,000 is to be repaid at the end of five years?
(b) How much money will be required in four years in order to repay a $10,000 loan borrowed now?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (6 reviews)
a P 8 000PF 8 ...View the full answer
Answered By
Charles mwangi
I am a postgraduate in chemistry (Industrial chemistry with management),with writing experience for more than 3 years.I have specialized in content development,questions,term papers and assignments.Majoring in chemistry,information science,management,human resource management,accounting,business law,marketing,psychology,excl expert ,education and engineering.I have tutored in other different platforms where my DNA includes three key aspects i.e,quality papers,timely and free from any academic malpractices.I frequently engage clients in each and every step to ensure quality service delivery.This is to ensure sustainability of the tutoring aspects as well as the credibility of the platform.
4.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Comparison of Alternatives Brian Imhoffs grandparents want to give him some money when he graduates from high school. They have offered Brian three choices as follows: a. Receive $15,000 immediately....
-
Comparison of Alternatives Darlene Pages grandparents want to give her some money when she graduates from high school. They have offered Darlene the following three choices: a. Receive $16,000...
-
1-Two brothers each open IRAs in 2009 and plan to invest $3,000 per year for the next 30 years. John makes his first deposit on January 1, 2009, and will make all future deposits on the first day of...
-
When dealing with a recession, governments may... a) increase spending b) raise taxes c) increase regulations d) decrease spending
-
Refer to the Arctic Springs Bottling Department Data Set and your answers to S5-18 and S5-19. Complete Step 5 of the process costing procedure: Assign costs to units completed and to units in ending...
-
Bertha's Bathworks produces hair and bath products. Its biggest customer is a national retail chain that specializes in such products. Bertha Jackson, the owner of Bertha's Bathworks, would like to...
-
Fill in the Blank. Cepstrum can be defined as the power spectrum of the logarithm of the ______________ .
-
Return to Problem 11 and the workforce schedule for part-rime loading dock workers. Suppose that each part- time worker can work only 3 days but the days must be consecutive. Devise an approach to...
-
After completing the Self Assessment: Active Listening Skills Inventory and watching the below video on The Power of Communication. please address the following: Discuss your results and ways you can...
-
Suppose a unit inverter with three units of input capacitance has unit drive. a) What is the drive of a 4x inverter? b) What is the drive of a 2-input NAND gate with three units of input capacitance?...
-
State the present worth of the following future payments: (a) $5,500 six years from now at 10% compounded annually. (b) $7,000 three years from now at 9% compounded annually. (c) $22,000 five years...
-
How many years will it take an investment to triple if the interest rate is 7% compounded annually?
-
Sepsis is an extreme immune system response to an infection that has spread throughout the blood and tissues. Sepsis can reduce blood flow to kidneys resulting in acute renal failure (also called...
-
Give a SQL query that computes the total cost of all line items in invoice number 11731. Invoice Invoice_ Number INTEGER 11731 11732 11733 Customer_ Number INTEGER 3175 3176 3175 Payment DECIMAL (10,...
-
Write a program that reads all words from a file and, using a Stream , prints how many of them are the word the.
-
Transparency is a growing factor in health care. You have been hired to consult with a group of orthopedists who have just developed their first website. The practice is located in a medium-sized...
-
Write a Java program that creates a Car table with car manufacturers, models, model years, and fuel efficiency ratings. Insert several cars. Print out the average fuel efficiency. Use SQL commands...
-
Of the classes in the java.lang and java.io packages that you have encountered in this book, which implement the Serializable interface?
-
(a) determine whether the parabola will open upward or downward. (b) find the equation of the axis of symmetry. (c) find the vertex. (d) find the y-intercept. (e) find the x-intercepts if they exist....
-
How much more interest will be earned if $5000 is invested for 6 years at 7% compounded continuously, instead of at 7% compounded quarterly?
-
Consider the cash flow shown in the accompanying diagram. What value of C makes the inflow series equivalent to the outflow series at an interest rate of 10%? 5500 300 Years 20
-
Find the value of X so that the two cash flows shown in the diagram are equivalent for an interest rate of 8%. $200 $200 $200 $200 $150 Years x X 0 Years $200 $200
-
What single amount at the end of the fifth year is equivalent to a uniform annual series of $3,000 per year for 10 years if the interest rate is 9% compounded annually?
-
Kate Elliott, "a new product development specialist at Donaldson Family Foods, Inc., paced in her office and shuffled papers on her desk. She had a lot of work to do, but she couldn't seem...
-
Every year, Dr. Cook, a college professor, leads a group of 25 college students to the Middle East on an archaeological dig that usually lasts about eight weeks. The participants, who come from big...
-
Imagine you're part of a small team working at a tech start-up called "InnoTech Solutions." Your team consists of five members: Alex: Project Manager, with a background in software development....
Study smarter with the SolutionInn App