Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 21, 2024

a bank charges 2 . 5 % interest on a loan. the loan starts with a value of 1 0 0 0 dollars. after 1

a bank charges $2.5 %$ interest on a loan. the loan starts with a value of $1000$ dollars. after $15$ years with no payments, the loan has grown to $1448.298$ dollars. how frequently is the interest compound?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Technology And Finance Challenges For Financial Markets Business Strategies And Policy Makers

Authors: Morten Balling, Frank Lierman, Andy Mullineux

1st Edition

041529827X, 978-0415298278

More Books

Students also viewed these Finance questions

Question

7. Glean the basic ideas from reading the abstract, literature review, and discussion sections of a research article.

Answered: 1 week ago

Question

★★★★★

What are the advantages and disadvantages associated with the unadjusted rate of return method for evaluating capital investments?

Answered: 1 week ago

Question

★★★★★

a bank charges 2 . 5 % interest on a loan. the loan starts with a value of 1 0 0 0 dollars. after 1 5 years with no payments, the loan has grown to 1 4 4 8 . 2 9 8 dollars. how frequently is the...

Answered: 1 week ago

Question

★★★★★

What is the determinant of deadweight loss? a. the price elasticity of demand only b. the price elasticity of demand and the price elasticity of supply c. the amount of government spending and the...

Answered: 1 week ago

Question

★★★★★

Part 3 of 5 - Game Theory Battle Between Two Chip Firms The following is a classic normal form game that depicts the pricing rivalry between Intel and AMD for their newest top-oftheline microchip....

Answered: 1 week ago

Question

★★★★★

Service providers (airlines, hotels, restaurants, visitor attractions) in the tourism industry, need to maintain a high capacity, in order to meet their overheads. The term "capacity" refers to the...

Answered: 1 week ago

Question

★★★★★

In a small town, two restaurants compete in the market for pizza. Each restaurant must decide whether to advertise or not. The potential monthly profits for these firms are shown below (in thousands...

Answered: 1 week ago

Question

★★★★★

Figure 13.4 shows the effect of an increase in the world interest rate on a small open economy with perfect capital mobility. We assumed there that the Net Capital Outow (NCO) was positive. For most...

Answered: 1 week ago

Question

★★★★★

1. Kelvin has $12,000 in outstanding student loans. Which of the following criteria should Kelvin fulfill to be eligible for the Public Service Loan Forgiveness (PSLF) program? He should be a...

Answered: 1 week ago

Previous Question Next Question

Question

a bank charges 2 . 5 % interest on a loan. the loan starts with a value of 1 0 0 0 dollars. after 1

a bank charges 2.5% interest on a loan. the loan starts with a value of 1000 dollars. after 15 years with no payments, the loan has grown to 1448.298 dollars. how frequently is the interest compound?

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Technology And Finance Challenges For Financial Markets Business Strategies And Policy Makers

Students also viewed these Finance questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

a bank charges $2.5 %$ interest on a loan. the loan starts with a value of $1000$ dollars. after $15$ years with no payments, the loan has grown to $1448.298$ dollars. how frequently is the interest compound?