A loan of $2000 was repaid together with interest of $604.35. If interest was 8% compounded quarterly,
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (15 reviews)
PV 200000 I 60435 FV 260435 I Y 8 C Y 4 2 002 2...View the full answer
Answered By
S Mwaura
A quality-driven writer with special technical skills and vast experience in various disciplines. A plagiarism-free paper and impeccable quality content are what I deliver. Timely delivery and originality are guaranteed. Kindly allow me to do any work for you and I guarantee you an A-worthy paper.
4.80+
27+ Reviews
73+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
The amount of $574 is invested monthly at 6% compounded monthly for six years. The balance in the fund is then converted into an annuity paying $3600 at the end of every three months. If interest on...
-
A variable rate demand loan showed an initial balance of $9000, payments of $2500 after 6 months, $2500 after 21 months, and a final payment after 4 years. Interest was 8% compounded quarterly for...
-
The interest rate on an $859.50 debt was 10 1/4%. For how many months was the loan outstanding if it was settled with a payment of $907.22?
-
The estimated times (in weeks) and immediate predecessors for the activities in a project are given in the following table. Assume that the activity times are independent. (a) Calculate the expected...
-
The following ANOVA table was obtained when estimating a multiple regression model. a. Calculate the standard error of the estimate. b. Calculate and interpret the coefficient of determination. c....
-
What might have caused the changes in supply and demand outlined? Outline the various reasons (i) why demand might decrease in this manner and also (ii) why supply might increase this way....
-
Explain skin friction drag.
-
Use the finite-difference approach with x = 1 to solve Prob. 27.1.
-
S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. Assume that on December 27. 2024, S&L purchased Coca-Cola bonds at par for $894,000 and sold the...
-
There are 2 shinobis with chakra levels 5 and 10 respectively and the desired sum of chakra levels is utmost 15 Starting with ke0, suy of chakra levels after attack max(5-0,0) + max(10- 0,0) 5+10 15....
-
If an investment of $800 earned interest of $320 at 6% compounded monthly, for how many years was the money invested?
-
If you borrowed $1000 on May 1, 2015, at 10% compounded semi-annually, and interest on the loan amounts to $157.63, on what date is the loan due?
-
Determine how increases in the interest rate spread in figure match with recessions in figure. Does an increase in the interest rate spread always occur when there is a recession? Does a recession...
-
The Black-Scholes formula for pricing a European call option at time t on a stock that pays dividends at the continuous rate 5 is (1) where C(t, S., K,o,r,T. 5) Ser-06(d)- Ke(-)(d) di...
-
Discuss the essential issues in Project Management. Discuss the current trends in Project Management. Discuss the future trajectory of Project Management. References: Project Management Institue....
-
Estimate the value of K, at 125C for the reaction: 2 SO, (g) + O2(g) 2 SO, (g). Consider the equilibrium: 2 HI (g) H (g) + I2 (g) HI At 25C, the partial pressures of the three gases in equilibrium in...
-
Discuss how the bullwhip effect is related to inventory control. 2. What are some of the causes of the bullwhip effect and some of the corrective measures. http://www.quickmba.com/ops/bullwhip-effect/
-
The graph below shows the number of people who consume different numbers of lollipops per year. What is the median number of lollipops consumed? Number of People 3 27 24 21 18 15 12 96 Number of...
-
Sketch the graphs of the following functions. Sketch the parabola g(t) = -t 2 + 4t - 3.
-
Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. $ 57.30 per unit $ 10.30 per unit $ 7.80 per...
-
Lausanne Private School System needs to set aside funds for a new computer system. What quarterly sinking fund payment would be required to amount to $45,000, the approximate cost of the system, in 1...
-
Ernie Wroten contributes $1,750 each year to a Roth IRA. The IRA earns 2.67% per year. How much will he have at the end of 15 years? Use the formula or a calculator application?
-
Use Table 14 - 2 to find the sinking fund payment. Desired future value 1, $240,000 2 $3,000 3, $50,000 4 $45,000 Annual interest rate 5% 4% 4% 3% Years 15 10 Frequency of payments Annually...
-
The Chaldean Riverfood Market has sales of $38,200, current assets of $8,100, net income of $2,600, fixed assets of $12,500, total debt of $10,600, and dividends of $915. What is the sustainable...
-
You found out that mow you are going Lo receive payments of 59,000 for the next 11 years. You will receive these payments at the beginning of each year The anmweal interest rabe will remadn constant...
-
b. Draw a profit or loss graph for selling a call contract with an exercise price of $13 and a $4 selling price (the premium). You may assume that the option is being evaluated on its expiration...
Study smarter with the SolutionInn App