Answer:
12
Step-by-step explanation:
610 divided by 55 = 11.09
but since u cant have 11.09, u need 12
Answer:
Principal element is $475.43
Interest payment is $390
Step-by-step explanation:
The amount of interest paid in month one is 4%*$117,000*1/12=$390
The interest is calculated based on the annual interest rate of 4% apportioned to reflect one month interest by multiplying by 1/12
The principal element of monthly payment is the monthly payment minus interest.
principal paid in month one=$865.43-$390=$475.43
Ultimately,$475.43 goes toward reducing her loan balance while the $390 is interest on loan
Answer:
$12159 per year.
Step-by-step explanation:
If I invest $x each year at the simple interest of 7.5%, then the first $x will grow for 35 years, the second $x will grow for 34 years and so on.
So, the total amount that will grow after 35 years by investing $x at the start of each year at the rate of 7.5% simple interest will be given by
= ![35x + \frac{x \times 7.5}{100} [35 + 34 + 33 + ......... + 1]](https://tex.z-dn.net/?f=35x%20%2B%20%5Cfrac%7Bx%20%5Ctimes%207.5%7D%7B100%7D%20%5B35%20%2B%2034%20%2B%2033%20%2B%20.........%20%2B%201%5D)
= ![35x + \frac{x \times 7.5}{100} [\frac{1}{2} (35) (35 + 1)]](https://tex.z-dn.net/?f=35x%20%2B%20%5Cfrac%7Bx%20%5Ctimes%207.5%7D%7B100%7D%20%5B%5Cfrac%7B1%7D%7B2%7D%20%2835%29%20%2835%20%2B%201%29%5D)
{Since sum of n natural numbers is given by 
}
= 35x + 47.25x
= 82.25x
Now, given that the final amount will be i million dollars = $1000000
So, 82.25x = 1000000
⇒ x = $12,158. 05 ≈ $12159
Therefore. I have to invest $12159 per year. (Answer)
I assume his account balance will become negative. With no overdraft fees in the question, then his account balance should be $-12.
Answer:
Cross price elasticity using midpoint method = 0.56
Step-by-step explanation:
Using the mid-point method
Cross-price Elasticity of Demand = <u>% change in Quantity demanded of UPS</u>
% change of price of FedEx
%change in Quantity demanded of UPS
using Mid-point method = <u> Q2-Q1 </u> × 100
(Q1+Q2)÷ 2
= <u>1.3-1.2 </u> × 100
(1.2+1.3)÷2
= <u>0.1 </u> × 100
1.25
= 8%
% change in price of FedEx
using midpoint method =<u> P2-P1 </u>× 100
(P1+P2)÷ 2
=<u> 75-65 </u>× 100
(65+75)÷2
=<u> 10 </u> × 100
70
= 14.28%
Cross-price Elasticity of Demand = 8% ÷ 14.28%
using midpoint method = 0.56
