Diane Antaya borrows $20,000 from the bank to help her expand her business. She agrees to repay
Question:
Diane Antaya borrows $20,000 from the bank to help her expand her business. She agrees to repay the money in equal payments at the end of each year for 9 years. Interest is at 8.9% compounded annually. Find the amount of each payment.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
To find the amount of each payment Diane Antaya needs to make to repay the 20000 loan with an 89 ann...View the full answer
Answered By
Abdul Wahab Qaiser
Before working at Mariakani, I volunteered at a local community center, where I tutored students from diverse backgrounds. I helped them improve their academic performance and develop self-esteem and confidence. I used creative teaching methods, such as role-playing and group discussions, to make the learning experience more engaging and enjoyable.
In addition, I have conducted workshops and training sessions for educators and mental health professionals on various topics related to counseling and psychology. I have presented research papers at conferences and published articles in academic journals.
Overall, I am passionate about sharing my knowledge and helping others achieve their goals. I believe that tutoring is an excellent way to make a positive impact on people's lives, and I am committed to providing high-quality, personalized instruction to my students.
0.00
0 Reviews
10+ Question Solved
Related Book For
Calculus With Applications
ISBN: 9780321831101
10th Edition
Authors: Margaret L Lial, Raymond N Greenwell, Nathan P Ritchey
Question Posted:
Students also viewed these Mathematics questions
-
Charlotte borrows $20,000 from the bank to help her expand her business. She agrees to repay the money in equal payments at the end of each year for 9 years. Interest is at 8.9% compounded annually....
-
How much money must be invested today if you are able to withdraw $580 payments at the end of each year for 9 years? The nominal rate of interest is 2.2% compounded monthly? QUESTION: You deposit...
-
Sarah wants to deposit $12,000 at the end of each year for 9 years into an annuity. (a) Sarahs local bank offers an account paying 5% interest compounded annually. Find the final amount she will have...
-
As we continue our discussions regarding revenue's associated with public sector, this will help reinforce some of the ideas regarding taxes on goods and services. Through the next week, save your...
-
For the beam illustrated in the figure, find the locations and magnitudes of the maximum tensile bending stress due to M and the maximum shear stress due toV. 100 lbfin in 8 in A 8 in B 2 in
-
A city government is considering building a new system of lighted bike paths. A council or supporting their construction lists the following as potential benefits of the paths: (1) more enjoyable...
-
You are the financial controller of Garla Ltd, an Australian company listed on the ASX that sells premium Australian wines into overseas markets. Garlas sales of inventories in foreign currency...
-
Simpson Corp. is an entertainment firm that derives approximately 30% of its income from the Casino Knights Division, which manages gambling facilities. As auditor for Simpson Corp., you have...
-
6. An igloo, a hemispherical enclosure built of ice (1.67 J/m-sC), has as inner radius of 2.50m. The thickness of the ice is 0.5m. At what rate must thermal energy be generated to maintain the air...
-
J. Euclid deposits $1526.38 at the end of each 6-month period in an account paying 7.6% compounded semiannually. How much will be in the account after 5 years?
-
Ross Craycraft wants to expand his pharmacy. To do this, he takes out a bank loan of $49,275 and agrees to repay it at 12.2% compounded monthly over 48 months. Find the amount of each payment...
-
Reduce each fraction to simplest form. Each is from the indicated area of application. (machine design) 3 r
-
An aircraft performs a maneuver called an "aileron roll." During this maneuver, the plane turns like a screw as it maintains a straight flight path, which sets the wings in circular motion. If it...
-
If you start to save moa find a firm's divisional weighted average cost of capital (WACC) based on the CAPM with the following inputs: the weight of debt and equity is 30% and 70% respectively; the...
-
Sonia is buying a project that will return $120,000/year for the first 5-years, and $130,000/year for the next 5-years. She invests only if she can earn at least a 15% annualized return on any...
-
1. Watch the video: https://youtu.be/2YFdN7cw_cU How will China's Belt and Road initiative impact Uzbekistan? 3 Reply to following questions. I. What will Uzbekistan gain from BRI II. What are the...
-
What will the following Python code output? def mystery_function (num): options_list = [0,2,4,6,8,10] new_list = [] for i in options_list: if i % num > 3: new_list.append(i) return new list n = 8...
-
Names A common computer programming rule is that names of variables must be between one and eight characters long. The first character can be any of the 26 letters, while successive characters can be...
-
Diamond Walker sells homemade knit scarves for $25 each at local craft shows. Her contribution margin ratio is 60%. Currently, the craft show entrance fees cost Diamond $1,500 per year. The craft...
-
A definite integral is a family of antiderivatives of a function and an indefinite integral is a real number. Determine whether each statement is true or false, and explain why.
-
If and g are continuous and (x) > g(x) on [a, b], then the area between the two curves from x = a to x = b is a b [[x 2 - g(x)] dx. Determine whether each statement is true or false, and explain...
-
If F(x) and G(x) are both antiderivatives of f(x), then F(x) = G(x). Determine whether each statement is true or false, and explain why.
-
Clara is trying to determine if 2 5 x 3 2 x 7 3 is divisible by 5. She says: "I'm not sure. I would need to multiply it out and then divide the product by 5 to know for sure." How does the...
-
What are the restrictions on the values of b and 62, if any, for the following systems to be consistent: a. 2x + 3y = b - X b2 b. 2x 3y = b -2x + 3y = b2
-
2 If AABC ADEF and a,c,x, are the lengths of BC, AB, YZ, and XY respectively. Use Algebra to show that if a/z=x/z then a/x-c/z 0.2 Solve for B to the nearest degree a) Cos B=3/8 b) Sin B=7/8 0.3 0.4...
Study smarter with the SolutionInn App