Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 05, 2024

A loan of $ 5 0 , 0 0 0 can be paid off by 4 annual payments of $ 1 6 , 0 0

A loan of $ $50, 000$ can be paid off by $4$ annual payments of $ $16, 000$ each. What is the interest rate on this loan?

Step by Step Solution

★★★★★

3.44 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

To find the interest rate on the loan we can use the present value of an annuity for... blur-text-image

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

Document Format ( 2 attachments)

663e6dac8c006_956450.pdf

180 KBs PDF File

663e6dac8c006_956450.docx

120 KBs Word File

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

Financial Management for Public Health and Not for Profit Organizations

Authors: Steven A. Finkler, Thad Calabrese

4th edition

133060411, 132805669, 9780133060416, 978-0132805667

More Books

Students also viewed these Finance questions

Question

★★★★★

KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...

Answered: 1 week ago

Question

★★★★★

1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...

Answered: 1 week ago

Question

★★★★★

Melody Henderson has worked as a manager in the lawn service industry for 6 years. She is capable at recruiting and managing part-time workers. Her workers like her. Melody treats her customers well...

Answered: 1 week ago

Question

★★★★★

Let y vary directly with x. Complete the following. Find y when x = 1.3, if y = 7.2 when x = 5.2.

Answered: 1 week ago

Question

★★★★★

Charles and Cathy are employed by different companies. They earn the same amount of income and share a similar lifestyle. However, each receives a different type of remuneration. Charles earns a...

Answered: 1 week ago

Question

★★★★★

Where does this body of law or legal tool fit in the value chain?

Answered: 1 week ago

Question

★★★★★

=+d) How many tourists would you predict for Hawaii in April 2007 (month 63 of this series)?

Answered: 1 week ago

Question

★★★★★

What are the major factors considered in determining what depreciation method to use?

Answered: 1 week ago

Question

★★★★★

Part 4 : Targets for Digital Sales Representatives Bootwork Shoes have hired three digital sales representatives to manage their business via E - commerce websites. These sales representatives are in...

Answered: 1 week ago

Question

★★★★★

7 Finley Corporation has monthly fixed costs of $240,000. It sells two products for which it has provided the following information 10 Sales Price points Product 11 Product 2 $35 Contribution Margin...

Answered: 1 week ago

Question

★★★★★

4. 16. A 5.0-kg block and a 4.0-kg block are connected by a 0.6 kg rod, as shown in the figure. The links between the blocks and the rod are denoted by A and B. A vertical upward force of magnitude F...

Answered: 1 week ago

Question

★★★★★

A small town in S. America had been plagued, thousands of people were dying of yellow fever. The task was to find the cause and eradicate it. Two approaches used were: Microscopic research on the...

Answered: 1 week ago

Question

★★★★★

A small publisher wants to keep data about its books and authors. What are possible business rules (must come from the real world)? Draw a conceptual ERD for the publisher.

Answered: 1 week ago

Question

★★★★★

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...

Answered: 1 week ago

Question

★★★★★

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...

Answered: 1 week ago

Question

★★★★★

15. Consider the problem of finding the first position in which an array b occurs as a subsequence of an array a. Write two nested loops: let result = undefined for (let i=;i

Answered: 1 week ago

Question

★★★★★

Define cultural intelligence. Cite the books or journal articles you found in Capella's library. Explain why cultural intelligence is important for HR practitioners and other organizational managers.

Answered: 1 week ago

Question

★★★★★

What is an allocation base, and how is it used in setting allocation rates?

Answered: 1 week ago

Question

★★★★★

What are the limitations of the internal rate of return method?

Answered: 1 week ago

Question

★★★★★

What is the essential issue upon which flexible bud-get variance analysis is based?

Answered: 1 week ago

Question

★★★★★

Give one or more examples of a model that is conceptually incorrect but that nevertheless gives good predictions.

Answered: 1 week ago

Question

★★★★★

Explain how some cities were astronomical instruments.

Answered: 1 week ago

Question

★★★★★

Give one or more examples of models that are very commonly used but that are probably incorrect.

Answered: 1 week ago

Previous Question Next Question