How much more would a loan of $11,860.50 accumulate to in two years if the interest rate

Question:

How much more would a loan of $11,860.50 accumulate to in two years if the interest rate charged was 4% compounded monthly instead of 4% compounded annually?

AppendixLO1

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

See More Books

Question Posted: Aug 30, 2024 09:05 AM

See More Questions

1.1. Define a want and a need, and give an example of each. Then, explain how the relationship between wants and needs affects the way people spend money. (4 points) 2.. Identify and describe an...
Oil companies, prompted by improvements in technology and increases in oil prices, are drilling in deeper and deeper water. Using a marginal revenue product and marginal cost diagram of drilling in...
What is the function of the Equal Employment Opportunity Commission (EEOC)?
The distribution function of a continuous random variable X is given by (i) Calculate the probabilities P(X 3), P(X 1), P(1 X 3). (ii) Calculate the conditional probabilities P(X 3|X 1), P(X ...
Delano Company uses two types of direct labor for the manufacturing of its products: fabricating and assembly. Delano has developed the following standard mix for direct labor, where output is...
in almost every word that is realised with an unfamiliar accent.
How much more would an investment of $5000 be worth after five years if it was earning 10% compounded semi-annually instead of 10% compounded annually? AppendixLO1
The results in Exercises 17.117.4 are certainly extreme, and the statistics look unusual. What might trouble you about these data?
What should be the principle behind selecting a cost-allocation base?
Consider a contingency table of observed frequencies with seven rows and five columns. a) How many chi-square degrees of freedom are associated with this table? b) What is the chi-square critical...
If a medical screening test to detect a disease whose prevalence is 10/100 has 90% hit rate (rate at which positive results are given for positive cases) and 10% false alarm rate (rate at which...
Based on these concepts below, provide some literature reviews that can support these concepts. Supply and demand: This concept refers to the relationship between the quantity of a product that...
Question 3 This question applies to parts 1-10. It contains drop-down multiple choice and numerical questions. Not answered Consider a world in which there are only two dates: 0 and 1. At date 1...
Why is the ability to be persuasive in communicating verbally or in written form as important as ever at work?Explain
Suppose that we want to generate the outcome of the flip of a fair coin, but that all we have at our disposal is a biased coin which lands on heads with some unknown probability p that need not be...
If there is an unrealized holding gain on available-for-sale investments, it is reported as?
Chuck, a dentist, raises prize rabbits for breeding and showing purposes. Assume that the activity is determined to be a hobby. During the year the activity generates the following items of income...
Assume the same facts as in Problem I:6-53, except that the income from the sale of rabbits is $1,200. a. What is the total amount of deductions Chuck may take during the year with respect to the...
During the current year, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii: Item Amount Insurance............................................................ $...
Chapter 08 - Homework Seved 10 5 points Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-3,200...
How can a company reduce their cost of goods sold? Take advantage of a discount being offered by a supplier of the inventory Offer a discount to their buyers None of these would result in a decrease...
The gross requirements for item A are specified for the beginning of weeks 1 through 12 in the table that follows. Item A, Level 0 01 02 03 04 05 06 07 08 09 10 11 12 Gross requirements 0 70 40 80 80...

How much more would a loan of $11,860.50 accumulate to in two years if the interest rate

Question:

Step by Step Answer:

Mathematics Of Business And Finance

Students also viewed these Business questions