Compute the amount that can be borrowed under each of the following circumstances: 1. A promise to
Question:
Compute the amount that can be borrowed under each of the following circumstances:
1. A promise to repay $90,000 seven years from now at an interest rate of 6%.
2. An agreement made on February 1, 2019, to make three separate payments of $20,000 on February 1 of 2020, 2021, and 2022. The annual interest rate is 10%.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
1 90000 x 06651 using Table B1 i 6 n 7 59859 2 20000 x 24869 using Table B3 i 10 n 3 49738 Table B1 Table B3 Periods 1 09901 2 09803 123456789 1 3 097...View the full answer
Answered By
Bree Normandin
Success in writing necessitates a commitment to grammatical excellence, a profound knack to pursue information, and a staunch adherence to deadlines, and the requirements of the individual publication. My background comprises writing research projects, research meta-analyses, literature reviews, white paper reports, multimedia projects, reports for peer-reviewed journals, among others. I work efficiently, with ease and deliver high-quality outputs within the stipulated deadline. I am proficient in APA, MLA, and Harvard referencing styles. I have good taste in writing and reading. I understand that this is a long standing and coupled with excellent research skills, analysis, well-articulated expressions, teamwork, availability all summed up by patience and passion. I put primacy on client satisfaction to gain loyalty, and trust for future projects. As a detail-oriented researcher with extensive experience surpassing eight years crafting high-quality custom written essays and numerous academic publications, I am confident that I could considerably exceed your expectations for the role of a freelance academic writer.
5.00+
7+ Reviews
21+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A company borrowed $180,000 at an interest rate of 9% compounded annually over six years. The loan will be repaid in installments at the end of each year according to the accompanying repayment...
-
A bank offers a $25,000 loan at an interest rate of 7.7% that can be paid back over 2 to 10 years. a. Write the monthly payment formula for this loan situation. Let t represent the number of years...
-
How much invested now at an interest rate of 9% compounded annually would be just sufficient to provide three payments as follows: the first payment in the amount of $3,000 occurring two years from...
-
Explain why some conditions on the market are regarded as anomalies and explain how that affects factor investing.
-
A weight of 1200 N rests on a lever at a point 0.50 m from a support. On the same side of the support, at a distance of 3.0 m from it, an upward force with magnitude F is applied. Ignore the weight...
-
In Exercises 77 and 78, evaluate s f (x, y) dS. f(x, y) = xy S: r(u, v) = 5 cos ui + 5 sin uj + vk Osus 0 y 1
-
True or False: If \(\operatorname{IRR}(\mathrm{A})>\operatorname{IRR}(\mathrm{B})\), then \(\operatorname{ERR}(\mathrm{A})>\operatorname{ERR}(\mathrm{B})\).
-
Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the market. As a result, RT is expected to experience a...
-
17. In many cases, a worker's hourly wage depends on the number of hours worked. If a certain number of hours is reached, the pay rate beyond that point increases. When working beyond a certain...
-
Parson Company acquired an 80 percent interest in Syber Company on January 1, 2020. Any portion of Sybers business fair value in excess of its corresponding book value was assigned to trademarks....
-
Spiller Corp. plans to issue 10%, 15-year, $500,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated December 31, 2019, and are issued on that...
-
What are the three key principles of the lean business model?
-
In Exercises use the Ratio Test or the Root Test to determine the convergence or divergence of the series. n=1 n! en
-
Stigler company makes two products in a single facility. These products have the following unit product costs: Products xyz abc selling price per unit $69 $63 Monthly demand in units 2000 4000 cost...
-
If the Canadian government put stiffer controls on imports into Canada, it could increase the number of jobs for Canadians. Describe the advantages and disadvantages of this strategy.
-
A needle is free to swing. It is equally likely to come to rest at any angle between 0 and . (a) What is the probability density, p(0)? Graph the probability density, p(0), as a function of from /2...
-
2 2-j 3 0 1+2j 4 1 3-3j b) Let A = What are the values of the (B, C, D, E, and 2 5+2j 4j 2+3j 0 -1+j -3 5-j F) arrays after execution of each statement: 1) B=A' 2) C=[real(A) imag(A)] 3) D A ([4 3],...
-
A Ltd's capital balance at start (1 June 20X3) was 6,000. The business transactions during the month were: Inventories purchased on credit for 150. Sale of goods for cash 470 (the goods had cost...
-
Newman Consulting Company maintains its records on a cash basis. During 2018 the following cash flows were recorded: cash received from customers, $420,000; and cash paid for salaries, utilities, and...
-
If the annual fixed costs are 54,000 dinars, the occupation expense represents 20%, the contribution margin is 25%, and the unit selling price is 40 dinars. Required: Calculate the closing point of...
-
Listed here are four series of separate costs measured at various volume levels. Examine each series and identify whether it is best described as a fixed, variable, step-wise, or curvilinear cost....
-
This scatter diagram reflects past maintenance hours and their corresponding maintenance costs. 1. Draw an estimated line of cost behavior. 2. Estimate the fixed and variable components of...
-
This scatter diagram reflects past maintenance hours and their corresponding maintenance costs. 1. Draw an estimated line of cost behavior. 2. Estimate the fixed and variable components of...
-
A teapot with a brewer at the top is used to brew tea, as shown in Fig. P3-143. The brewer may partially block the vapor from escaping, causing the pressure in the teapot to rise and an overflow from...
-
Search and locate a current international issue (an issue that affects more than one culture). 1. Describe the issue 2. Define and discuss the two or more cultures involved in the issue 3. Explain...
-
How is ethics defined in research and why is it important? Discuss two different ways in which ethics can be compromised when conducting, using, and reporting data. Describe strategies that can be...
Study smarter with the SolutionInn App