Henrick can buy a rural property from a family member for $700,000 with terms of $100,000 down
Question:
Henrick can buy a rural property from a family member for $700,000 with terms of $100,000 down and the balance payable over 20 years by payments at the end of each quarter including interest at 5% compounded annually. What will be the size of the payments? How much interest will Henrick pay over the life of the loan?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (15 reviews)
The 600000 balance is the present value of the payments which form an ordina...View the full answer
Answered By
Hassan Imtiaz
The following are details of my Professional Experience. Responsibilities Eight years of demanding teaching experience in the field of finance and business studies at Master’s Level. Completion of the given tasks within given time with quality and efficiency. Marketing professional with practical experience in and solid understanding of a diverse range of management applications, including market analysis, sales and marketing, team building and quality assurance. I have excellent skills to approach deal and sustain corporate clients / customers by demonstrating not only extraordinary communication and interpersonal skills but also high caliber presentation, negotiation and closing skills. Manage and follow up the day-to-day activities. Manage and co-ordinate the inventories. Fulfillment of all the tasks assigned.
The following are details of my Areas of Effectiveness. Finance 1. Corporate Finance 2. Advanced Corporate Finance 3. Management of Financial Institutions 4. International Financial Management 5. Investments 6. Fixed Income 7. Real Estate Investment 8. Entrepreneurial Finance 9. Derivatives 10. Alternative Investments 11. Portfolio Management 12. Financial Statement Analysis And Reporting (US GAAP & IFRS) 13. International Financial Markets 14. Public Finance 15. Personal finance 16. Real estate 17. Financial Planning Quantitative Analysis 1. Time Value Of Money 2. Statistics 3. Probability Distribution 4. Business Statistics 5. Statistical Theory and Methods Economics 1. Principles of Economics 2. Economic Theory 3. Microeconomic Principles 4. Macroeconomic Principles 5. International Monetary Economics 6. Money and Banking 7. Financial Economics 8. Population Economics 9. Behavioral Economics International Business 1. Ethics 2. Business Ethics 3. An introduction to business studies 4. Organization & Management 5. Legal Environment of Business 6. Information Systems in Organizations 7. Operations Management 8. Global Business Policies 9. Industrial Organization 10. Business Strategy 11. Information Management and Technology 12. Company Structure and Organizational Management Accounting & Auditing 1. Financial Accounting 2. Managerial Accounting 3. Accounting for strategy implementation 4. Financial accounting 5. Introduction to bookkeeping and accounting Marketing 1. Marketing Management 2. Professional Development Strategies 3. Business Communications 4. Business planning 5. Commerce & Technology Human resource management 1. General Management 2. Conflict management 3. Leadership 4. Organizational Leadership 5. Supply Chain Management 6. Law 7. Corporate Strategy Creative Writing 1. Analytical Reading & Writing Other Expertise 1. Risk Management 2. Entrepreneurship 3. Management science 4. Organizational behavior 5. Project management 6. Financial Analysis, Research & Companies Valuation 7. And any kind of Excel Queries
4.80+
150+ Reviews
230+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Henry can buy a farm for $700,000 with terms of $100,000 down and the balance payable over 20 years by quarterly payments including interest at 8% compounded annually. What will be the size of the...
-
A variable-rate mortgage of $150 000 is amortized over 20 years by equal monthly payments. After 18 months the original interest rate of 6% compounded semiannually was raised to 6.6% compounded...
-
A mortgage of $180 000 is amortized over 20 years by semi-monthly payments of $611.31. What is the nominal annual rate of interest compounded semi-annually?
-
What were the reasons for the failure of the original purpose of FordDirect.com? Who eventually gained from the system and what were the gains?
-
Consider a steam power plant operating on the simple ideal Rankine cycle. The steam enters the turbine at 4 MPa, 400oC and is condensed in the condenser at a pressure of 100 kPa. Determine The...
-
Presented below is the basic accounting equation. Determine the missing amounts. Owner's Equity Assets Liabilities a. $90,000 $50,000 $44,000 b. ? $70,000 c. $94,000 $53,000
-
Verify that the distribution for the three-day forecast and the number of days of rain is a probability distribution. Days of rain, x 0 1 2 3 Probability, P(x) 0.216 0.432 0.288 0.064
-
Prepare year-end adjusting entries for each of the following: 1. Office Supplies has a balance of $336 on January 1, Purchases debited to Office Supplies during the year amount to $1,660. A year-end...
-
1. (4 marks) Write a C function to set a bit in the binary representation of an unsigned integer number of four bytes (bits counting from right to left as bit0, bit1, bit2, ..., bit31), and display...
-
The managing partner of Brenda McCoy Accounting is considering the desirability of tracing more costs to jobs than just direct labour. In this way, the firm will be better able to justify billings to...
-
If $300,000 is used to purchase an annuity earning 4.5% compounded monthly and paying $2500 at the end of each month, what will be the term of the annuity? Include the final, smaller annuity payment...
-
Farah has $600,000 in her RRSP and wishes to retire. She is considering using the funds to purchase an annuity that earns 3% compounded annually and pays her $3500 at the end of each month. If she...
-
For the titration of 50.0 mL of 0.150 M ethylamine, C 2 H 5 NH 2 , with 0.100 M HCl, find the pH at each of the following points, and then use that information to sketch the titration curve and...
-
1. what are the new financial products and services are available in other countries that are not currently available in the Philippines. 2. which of these products and services would be most...
-
Given faxiy]=-x-4x95 +5y, find fxCx= fy Cx, D=
-
Compute the present value of an annuity in which hourly payments (8760 each year) of $0.41 are made for 3 years at an annual rate of 1.2%.
-
Use capital letters for the first letter in the account names. Building Property, Plant & Equipment Common Stock Stockholder's Equity Copyright Intangible Assets Prepaid expenses Current Assets Taxes...
-
What are the implications of the fluctuation theorem in understanding the statistical behavior of thermodynamic systems far from equilibrium, and how does it reconcile with the second law of...
-
Wolsey Industries Inc. expects to maintain the same inventories at the end of 20Y3 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to...
-
Assume Eq. 6-14 gives the drag force on a pilot plus ejection seat just after they are ejected from a plane traveling horizontally at 1300 km/h. Assume also that the mass of the seat is equal to the...
-
Compare the incidence density of breast cancer in past users vs. never users, and report a p-value? Cancer The data relating oral-contraceptive (OC) use and the incidence of breast cancer in the age...
-
Estimate the rate ratio comparing current users vs. never users, and provide a 95% CI about this estimate? Cancer The data relating oral-contraceptive (OC) use and the incidence of breast cancer in...
-
Estimate the rate ratio comparing past users vs. never users, and provide a 95% CI about this estimate? Cancer The data relating oral-contraceptive (OC) use and the incidence of breast cancer in the...
-
Activities list and find out the total project duration in total days (You don't need to submit the project diagram, just submit the total days of project duration) What is the Activity Predecessor...
-
Business Value Statement Based on your team review of the client stakeholder environment develop a set of business value propositions. This proposition must indicate what the client offers of value...
-
Tradeoffs existin a variety of different supply chain aspects including transportation. Discuss at least two different tradeoffs that may have to be made when addressing transportation in a global...
Study smarter with the SolutionInn App