A $600 stereo is financed for 6 months by making monthly payments of $110. What is the
Question:
A $600 stereo is financed for 6 months by making monthly payments of $110. What is the annual nominal compounding rate for this loan?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
PV 600 PMT 110 n 6 11 i6 i resul...View the full answer
Answered By
Atuga Nichasius
I am a Highly skilled Online Tutor has a Bachelor’s Degree in Engineering as well as seven years of experience tutoring students in high school, bachelors and post graduate levels. I have a solid understanding of all learning styles as well as using asynchronous online platforms for tutoring needs. I individualise tutoring for students according to content tutoring needs assessments.
My strengths include good understanding of all teaching methods and learning styles and I am able to convey material to students in an easy to understand manner. I can also assists students with homework questions and test preparation strategies and I am able to help students in math, gre, business , and statistics
I consider myself to have excellent interpersonal and assessment skills with strong teaching presentation verbal and written communication
I love tutoring. I love doing it. I find it intrinsically satisfying to see the light come on in a student's eyes.
My first math lesson that I taught was when I was 5. My neighbor, still in diapers, kept skipping 4 when counting from 1 to 10. I worked with him until he could get all 10 numbers in a row, and match them up with his fingers.
My students drastically improve under my tutelage, generally seeing a two grade level improvement (F to C, C to A, for example), and all of them get a much clearer understanding!
I am committed to helping my students get the top grades no matter the cost. I will take extra hours with you, repeat myself a thousand times if I have to and guide you to the best of my ability until you understand the concept that I'm teaching you.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
Question Posted:
Students also viewed these Mathematics questions
-
A $135 000 mortgage is amortized by making monthly payments of $974.37. If interest is 4.92% compounded semi-annually, for how many years is the term of the mortgage?
-
Home entertainment equipment can be purchased by making monthly payments of $82 for three-and-a-half years. The first payment is due at the time of purchase and the financing cost is 16.5% compounded...
-
What is the annual nominal rate compounded daily for a bond that has an annual percentage yield of 3.39%?
-
In a country with a fixed exchange rate system the rise of inflation will result in: O Home currency depreciation Currency appreciation in real terms Floating of home currency O Inflow of foreign...
-
Chrysler engineers helped Toyota develop its Sienna minivan. In return, Toyota provided input on automobile production techniques to Chrysler. Why do you think Chrysler was willing to share its...
-
Interdesign uses 1,000 units of the component IMC2 every month to manufacture one of its products. The unit costs incurred to manufacture the component are as follows: Direct materials .......... $...
-
Consider the following two models where $E(\boldsymbol{\varepsilon})=\mathbf{0}$ and $\operatorname{Var}(\boldsymbol{\varepsilon})=\sigma^{2} \mathbf{I}$ : Model A: $\mathbf{y}=\mathbf{X}_{1}...
-
1. A patent increases the incentive to develop new products because it ________ the price of the product and thus generates profit to cover a firms costs of _______. 2. In some cases, a patent is...
-
Oakland Precision Products ( OPP ) manufactures and sells a variety of scales for the kitchen and office. OPP sells primarily to kitchenware stores, discount stores, and so on . Two of the scales it...
-
The indented parenthetic representation of a tree T is a variation of the parenthetic representation of T (see Code Fragment 8.26) that uses indentation and line breaks as illustrated in Figure 8.22....
-
A loan company will loan up to 60% of the equity in a home. A family purchased their home 8 years ago for $83,000. The home was financed by paying 20% down and signing a 30-year mortgage at 8.4% for...
-
A person deposits $2,000 each year for 25 years into an IRA. When she retires immediately after making the 25th deposit, the IRA is worth $220,000. (A) Find the interest rate earned by the IRA over...
-
Find the derivatives of the functions in Problem. Simplify and express the answer using positive exponents only. y = 5/3 x 3 (4x 5 - 5) 3
-
Miray borrows $150,000 from Community Bank to buy a home. If she fails to make payments on the mortgage, the bank has the right to repossess and auction off the property securing the loan. This is a....
-
What are some factors that complicate the post-audit process?
-
Would a firm that has many good investment opportunities be likely to have a higher or a lower dividend payout ratio than a firm with few good investment opportunities? Explain.
-
Explain what asymmetric information means, and how signals affect capital structure decisions.
-
Why does business risk vary from industry to industry?
-
Nav-Go Enterprises Inc. produces aeronautical navigation equipment. The stockholders' equity accounts of Nav-Go Enterprises Inc., with balances on January 1, 2016, are as follows: Common Stock, $5...
-
Review Exhibit 11.4. Analyze each product on the graph according to the characteristics that influence the rate of adoption. For example, what can you conclude from the data about the relative...
-
A farmer can buy two types of plant food, mix A and mix B . Each cubic yard of mix A contains 20 pounds of phosphoric acid, 30 pounds of nitrogen, and 5 pounds of potash. Each cubic yard of mix B...
-
In Problem graph each inequality subject to the nonnegative restrictions. 25x + 75y < 600, x 0, y 0
-
In Problem graph each inequality subject to the nonnegative restrictions. 40x 55y > 0, x 0, y 0
-
Problem 2 [55 marks] Consider a thin solid disk of radius a and material properties, E and v, which is placed inside a disk with a hole of the inner radius b = a and the outer radius a with materials...
-
(1) The volume of the cylinder was 1L at 50 C. What will be the new volume Vat T=100 C? Assume that the mass on top of the cylinder is kept the same. (Hint: P1=P2) P=const n=const V2 T2 = V V Ti (2)...
-
8. Mr. McCloskey is driving his truck along a straight road when he notices a small dark object 500 ft ahead. He steps on the brakes, then recognizes that the object is a duck standing in the middle...
Study smarter with the SolutionInn App