Diane Antaya borrows $20,000 from the bank to help her expand her business. She agrees to repay
Question:
Diane Antaya borrows $20,000 from the bank to help her expand her business. She agrees to repay the money in equal payments at the end of each year for 9 years. Interest is at 8.9% compounded annually. Find the amount of each payment.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
To find the amount of each payment Diane Antaya needs to make to repay the 20000 loan with an 89 ann...View the full answer
Answered By
Abdul Wahab Qaiser
Before working at Mariakani, I volunteered at a local community center, where I tutored students from diverse backgrounds. I helped them improve their academic performance and develop self-esteem and confidence. I used creative teaching methods, such as role-playing and group discussions, to make the learning experience more engaging and enjoyable.
In addition, I have conducted workshops and training sessions for educators and mental health professionals on various topics related to counseling and psychology. I have presented research papers at conferences and published articles in academic journals.
Overall, I am passionate about sharing my knowledge and helping others achieve their goals. I believe that tutoring is an excellent way to make a positive impact on people's lives, and I am committed to providing high-quality, personalized instruction to my students.
0.00
0 Reviews
10+ Question Solved
Related Book For
Calculus With Applications
ISBN: 9780321831101
10th Edition
Authors: Margaret L Lial, Raymond N Greenwell, Nathan P Ritchey
Question Posted:
Students also viewed these Mathematics questions
-
Charlotte borrows $20,000 from the bank to help her expand her business. She agrees to repay the money in equal payments at the end of each year for 9 years. Interest is at 8.9% compounded annually....
-
How much money must be invested today if you are able to withdraw $580 payments at the end of each year for 9 years? The nominal rate of interest is 2.2% compounded monthly? QUESTION: You deposit...
-
Sarah wants to deposit $12,000 at the end of each year for 9 years into an annuity. (a) Sarahs local bank offers an account paying 5% interest compounded annually. Find the final amount she will have...
-
As we continue our discussions regarding revenue's associated with public sector, this will help reinforce some of the ideas regarding taxes on goods and services. Through the next week, save your...
-
For the beam illustrated in the figure, find the locations and magnitudes of the maximum tensile bending stress due to M and the maximum shear stress due toV. 100 lbfin in 8 in A 8 in B 2 in
-
Kelly Company purchased manufacturing equipment for \($20,000\) cash. In addition to the \($20,000\) purchase price, Kelly paid sales tax of \($1,600\), freight costs of \($400\), installation costs...
-
Use lists to find the LCM of 12 and 15.
-
It is early April 2021 and you, CPA, work in a mid-sized accounting firm in Regina, Saskatchewan. While you normally work on audits, you have requested to participate in the personal tax pool this...
-
Meter readers for Sierra Utility Company manually record the meter readings on a meter reading form. After completing their rounds, meter readers turn these documents in to the computer department in...
-
J. Euclid deposits $1526.38 at the end of each 6-month period in an account paying 7.6% compounded semiannually. How much will be in the account after 5 years?
-
Ross Craycraft wants to expand his pharmacy. To do this, he takes out a bank loan of $49,275 and agrees to repay it at 12.2% compounded monthly over 48 months. Find the amount of each payment...
-
To what extent do you think the environmental scanning tools are effective in diagnosing the environment for organizations? Are there situations when they might not be effective?
-
Consider extending your program to work with larger numbers of blocks. How well do you think it will work?
-
Discuss the various sources and strategies for integrating cost and value.
-
Define value management (VM) and its key principles and attributes.
-
Write a program in the language of your choice that uses search to formulate plans for moving from one arrangement of three blocks to another. Assume that the available actions that can be taken are...
-
Discuss the various benefits of integrating value and risk management processes.
-
The Excel file Cereal Data provides a variety of nutritional information about 67 cereals and their shelf location in a supermarket. Use regression analysis to find the best model that explains the...
-
Diamond Walker sells homemade knit scarves for $25 each at local craft shows. Her contribution margin ratio is 60%. Currently, the craft show entrance fees cost Diamond $1,500 per year. The craft...
-
A definite integral is a family of antiderivatives of a function and an indefinite integral is a real number. Determine whether each statement is true or false, and explain why.
-
If and g are continuous and (x) > g(x) on [a, b], then the area between the two curves from x = a to x = b is a b [[x 2 - g(x)] dx. Determine whether each statement is true or false, and explain...
-
If F(x) and G(x) are both antiderivatives of f(x), then F(x) = G(x). Determine whether each statement is true or false, and explain why.
-
Firm A can borrow at 2% fixed or at Libor minus 50 bps in the fixed and floating rate markets, respectively. Firm B can borrow at 5% fixed or Libor flat in the fixed and floating rate markets,...
-
In a replacement study, the correct value for the first cost of the challenger is: OA. the cost minus the trade-in value of the defender. OB. the book value of the defender. OC. the cost when it was...
-
Question 2 Not yet answered Points out of 10.00 Target Corporate (TGT) preferred stocks are expected to pay a $4.85 annual dividend forever. If the required rate of return on equivalent investment is...
Study smarter with the SolutionInn App