Ralph Chase plans to sell a piece of property for $145000. He wants the money to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ralph Chase plans to sell a piece of property for $145000. He wants the money to be paid off in two ways - a short-term note at 11% interest and a long-term note at 9% interest. Find the amount of each note if the total annual interest paid is $14550. The amount of the 11% note is $ and the amount of the 9% note is $ Ralph Chase plans to sell a piece of property for $145000. He wants the money to be paid off in two ways - a short-term note at 11% interest and a long-term note at 9% interest. Find the amount of each note if the total annual interest paid is $14550. The amount of the 11% note is $ and the amount of the 9% note is $
Expert Answer:
Answer rating: 100% (QA)
To find the amounts of each note lets assume the amount of the shortterm note 11 interest is x and t... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these mathematics questions
-
Solve each problem. Real Estate Financing Cody wishes to sell a piece of property for $240,000. He wants the money to be paid off in two ways: a short-term note at 2% interest and a long-term note at...
-
The board of directors of the Cortez Beach Yacht Club (CBYC) is developing plans to acquire more equipment for lessons and rentals and to expand club facilities. The board plans to purchase about...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Write the complete APT part program to profile mill the outside edges of the part. The part is 15 mm thick. Tooling = 30 mm diameter end mill with four teeth, cutting speed = 150 mm/min, and feed =...
-
Differentiate between common stock and preferred stock.
-
In what ways do the courts treat negligent misrepresentation differently than they do intentional misrepresentation?
-
Consider the net cash flows and salvage values shown below. Assume the alternatives can be indefinitely renewed with the same cash flows and salvage values. Using a MARR of 8%, specify the planning...
-
Consider the PortaCom project discussed in Section 16.1. a. An engineer on the product development team believes that first-year sales for the new printer will be 20,000 units. Using estimates of $45...
-
4. Suppose the MPC is 0.8. What is the tax multiplier in this economy? If the government were to lower taxes by $250 in this economy how much would Total Spending change as a result? Show your work.
-
Are these system specifications consistent? "Whenever the system software is being upgraded, users cannot access the file system. If users can access the file system, then they can save new files. If...
-
Delia Landscaping is considering a new 4-year project. The necessary fixed assets will cost $199,000 and be depreciated on a 3-year MACRS and have no salvage value. The MACRS percentages each year...
-
During the second stage of a rocket launch, the rocket's upward velocity increases from 980 m/s to 9,000 m/s with an average acceleration of 33 (upward). How long did the acceleration last?
-
Como se ha explicado en este mdulo, y basndose en la nueva investigacin que va a realizar, proporcione una lista de cinco (5) pros y contras de cada una de las siguientes formas de negocio, puede...
-
Write a complete C program that prompts the user to enter a series of integers terminated by a 0. The program should then print positive integer as follows: i) The number of integers entered (not...
-
A machine in a factory emits sound of intensity 8 0 dB . Calculate the resulting sound intensity if a second identical machine is positioned beside it .
-
Determine the combined present value as of December 31, 2021, of the following four payments to be received at the end of each of the designated years, assuming an annual interest rate of 8%. (FV of...
-
Exercise 5. For n a positive integer, we consider sets [n] = {1,2,3,...,n}. A monotone increasing function T [n] [n2] is defined as follows: if 0
-
A parking lot charges $3 for the first hour (or part of an hour) and $2 for each succeeding hour (or part), up to a daily maximum of $10. (a) Sketch a graph of the cost of parking at this lot as a...
-
Emily Jackson (Social Security number 765-12-4326) and James Stewart (Social Security number 466-74-9932) are partners in a partnership that owns and operates a barber shop. The partnership's first...
-
In 2012, Gale and Cathy Alexander hosted an exchange student, Axel Muller, for 9 months. Axel was part of International Student Exchange Programs (a qualified organization). Axel attended tenth grade...
-
Ken (age 31) and Amy (age 28) Booth have brought you the following information regarding their income, expenses, and withholding for the year. They are unsure which of these items must be used to...
-
Which of the following is a discrete probability distribution? Approach In a discrete probability distribution, the sum of the probabilities must equal 1, and all probabilities must be between 0 and...
-
Graph the discrete probability distribution given in Table 1 from Example 2. Approach In the graph of a discrete probability distribution, the horizontal axis represents the values of the discrete...
-
Compute the mean of the discrete random variable given in Table 1 from Example 2. Approach Find the mean of a discrete random variable by multiplying each value of the random variable by its...
Study smarter with the SolutionInn App