Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 09, 2024

I keep getting 16,337.27, which is apparently not right. The answer should be 19380.09, which I just don't understand. Calculating Future Value Jackson took out

image text in transcribed I keep getting 16,337.27, which is apparently not right. The answer should be 19380.09, which I just don't understand.

Calculating Future Value Jackson took out a$15,000 loan for a used car. If the loan was quoted at 2.85% compounded monthly, to be repaid in one full payment at the end of 3 years, calculate the final cost of the loan

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

Clever Girl Finance Learn How Investing Works Grow Your Money

Authors: Bola Sokunbi

1st Edition

1119696739, 978-1119696735

More Books

Students also viewed these Finance questions

Question

★★★★★

Are the advertising dollars spent by a company related to total sales revenue? The following data represent the advertising dollars and the sales revenues for various companies in a given industry...

Answered: 1 week ago

Question

★★★★★

Application of Herry's LaW

Answered: 1 week ago

Question

★★★★★

=+ (b) Let 8, () = sup[ F(x) - F(y): [x -y| ] be the modulus of continuity of F. Show that d(F, G) Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★

Kirsten Neal is interested in purchasing a new house given that mortgage rates are at a historical low. Her bank has specific rules regarding an applicants ability to meet the contractual payments...

Answered: 1 week ago

Question

★★★★★

show the fotmulas that you use in the excel, please! Instructions 1. Open a new Excel Workbook. 2. Solve each of the problems shown below in a separate Worksheet. 3. Rename each worksheet (Tab) per...

Answered: 1 week ago

Question

★★★★★

Thomas Piketty points out that when r>g, the economy will be on an explosive path of concentrationof wealth. To prevent that, he argues in favor of introducing awealth tax()to reducer to a level...

Answered: 1 week ago

Question

★★★★★

We've done 50% of the work on a $290K budgeted project. Our project has spent $180K so far. a. What is the EV? b.EAC c.ETC

Answered: 1 week ago

Question

★★★★★

What is Extreme Project Management (XPM) and how this approach different from traditional project management (TPM) approaches? How would you determine if this is right approach for your project? How...

Answered: 1 week ago

Question

★★★★★

3. Assume you are ready to close the sale on a premium suite for a corporation. Create a sales dialogue between you and the decision-maker that results in a successful sale using the following...

Answered: 1 week ago

Question

★★★★★

5. Using the following data, calculate the breakeven point and margin of safety in units: Selling Price = $50 Variable Cost =$40 Fixed Cost = $70,000 Budgeted Sales = 7,500 units

Answered: 1 week ago

Question

★★★★★

Megan used to work at the local pizzeria for $30,000 per year but quit in order to start her own deli. Last year, she paid $6,000 rent each month, $5,500 for employee payroll each month, and $1,500...

Answered: 1 week ago

Question

★★★★★

Describe the role of a physician assistant. Would you feel comfortable going to a physician assistant?

Answered: 1 week ago

Question

★★★★★

Why was managed care developed? Do you think managed care is a good way to provide healthcare services? Why or why not?

Answered: 1 week ago

Question

★★★★★

What is recruitment? Which is more important, internal or external? Or are both equally important? Defend your answer.

Answered: 1 week ago

Previous Question Next Question