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sergey [27]
2 years ago
7

Jenna is the beneficiary of a fund of 20,000 that pays her 1,000 at the end of each month. The fund earns 6% compounded monthly.

The final payment to exhaust the fund will be a balloon payment. Calculate the amount of the balloon payment.
Business
1 answer:
olchik [2.2K]2 years ago
6 0

Answer:

Given

Fund Amount P=20000

Payment each month A=1000

Interest rate per month r=6%/12=0.5%

Let B is balloon payment and N is the total number of Payment

so P=A*(1-(1+r)^-(N-1))/r + B/(1+r)^N

20000=1000*(1-(1+0.5%)^(N-1))/0.5% + B/(1+0.5%)^N

By using the trial and error method we find that N=21

So B/(1+0.5%)^21=1012.53

B=1124.39

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Common-ground persuasion technique

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Mainstream economic theorizing sees work as a lousy activity that workers tolerate in order to earn income. One way that work is
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Answer:

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Explanation:

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2 years ago
Godina Products, Inc., has a Receiver Division that manufactures and sells a number of products, including a standard receiver t
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No, there would be no existence of a transfer price that would make both the Receiver and Industrial Products Division financially better off than if the Industrial Products Division were to continue buying its receivers from the outside supplier

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One company executive has expressed concern about the operating loss that has occurred in Product Line 2 and has suggested that
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