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Allushta [10]
2 years ago
7

Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 2

59,873.20 2 1,167.34 539.24 628.10 259,245.10 3 1,167.34 x y z With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan. Give your answer to the nearest hundredth percent. Do not include the % sign in your response.
Business
1 answer:
Thepotemich [5.8K]2 years ago
4 0

Answer: 2.5186 percent

Explanation:

First you have to understand that the payment includes Payment Interst plus Debt Payment and that the Payment Balance is the Loan Amount minus the Debt Payment; with this information you calculate the Loan Amount that is 260,500.00 and calculate the rate per month (use the interest debt / Loan Amount) which results in 0.2075 percent (TEM).  To calculate the annual interest rate you use the formula to convert to TEA which is ((1+TEM)^12)-1).

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The present value the expected costs of the new security and data management system is $-75,062.5

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2 years ago
Regional Products, Inc. agrees to sell to Quantity Dealers Corporation a certain amount of goods. The contract does not specify
Rashid [163]

Answer:

Regional Products

Explanation:

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2 years ago
Everything Looks Like a Nail, Inc. is a manufacturing company that produces hammers. The company faces a number of different fix
nikitadnepr [17]

Answer:

a. Regulatory compliance costs  - Fixed cost

b. Salaries of top management and key personnel - Fixed cost

c. Cost of metal used in manufacturing  - Variable cost

d. Cost of wood used in manufacturing  - Variable cost

e. Mortgage payments  - Fixed cost

f. Industrial equipment costs  - Fixed cost

g. Interest on debt  - Fixed cost

h. Postage and packaging costs - Variable cost

Explanation:

The cost which is affected by the production of units is known as variable cost. The cost which does not vary with the units produced is fixed cost. Fixed cost does not change from period to period irrespective of level of output and is usually same for a certain period. It is easy to budget for fixed costs instead of variable cost. Variable cost changes every period and is based on company's output.

6 0
2 years ago
Read 2 more answers
An investment pays $400 in one year, X amount of dollars in two years, and $500 in three years. The total present value of all t
k0ka [10]

Answer:

X = 789.70

Explanation:

we solve for X considerign each deposit is discounted at the given rate using the lump sum formula:

\frac{Maturity}{(1 + rate)^{time} } = PV

\frac{400}{1.06}+\frac{X}{1.06^2}  +\frac{500}{1.06^3} = 1,500\\X= (1,500 - \frac{400}{1.06} - \frac{500}{1.06^3}) \times 1.06^2

X = 789.7018868

6 0
2 years ago
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arsen [322]

Answer:

Participate in professional development opportunities a financial conference taking place next month covering new financial and bookkeeping regulations.

Explanation:

Accounting/Book keeping as a profession requires that a professional keeps updating his knowledge as new financial regulations comes up. She needs to have detailed knowledge of the new regulations since she provides professional services. Since this new regulation will affect how business is done with her client, the best decision is for her to update her knowledge on the subject by taking a course that seeks to explore what this new regulations connotes.

7 0
2 years ago
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