Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 10, 2024

If no payments are made, a loan of amount $46000 would increase to $51030.15 after 2 years of monthly compounding interest. If instead, payments of

If no payments are made, a loan of amount $46000 would increase to $51030.15 after 2 years of monthly compounding interest. If instead, payments of $872.30 are made at the end of each month, how many years would it be until the loan is paid off

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions

Question

5. Alida is participating in cognitive therapy for depression. During therapy, Alida comments, I messed up on my math test yesterday and got a D-. I just cant make myself study. Im just no good at...

Answered: 1 week ago

Question

★★★★★

Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3 Purchased used car for $3,000 cash for use in...

Answered: 1 week ago

Question

★★★★★

Tony is a 45-year-old self-employed psychiatrist who has net earned income of $300,000 in 2021. What is the maximum amount he can contribute to his SEP for the year? $fill in the blank 1 Feedback Area

Answered: 1 week ago

Question

★★★★★

Total cost of Employee G. E. Spring employs Trent Pelligrini at a salary of $46,800 a year. Spring is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45%...

Answered: 1 week ago

Question

★★★★★

ToFrom Trucking serves two segments of customers. One segment (A) is willing to pay $3.50 per cubic foot but wants to commit to a shipment with only 24 hours' notice. The other segment (B) is willing...

Answered: 1 week ago

Question

★★★★★

(a) Let Z be a standard normal. Find Pr(-1.96 3). (c) Let X be a t-distribution with df=10. Estimate Pr(-2.2 X*)=.05? (e) Let X be a F10,00 distribution. What value X* solves Pr(X>X*)=.05?

Answered: 1 week ago

Question

★★★★★

Time: 75 minutes Problem 1 (2 points) Calculate I = fc(1+ y)dl, where C is the under half of the circle 2+ y = 4.

Answered: 1 week ago

Question

★★★★★

Build a LP model for the following scenario, but don't solve the LP model that you made. A company manufactures two products whose unit profits are $17 and $15, respectively. The company has budgeted...

Answered: 1 week ago

Question

★★★★★

What is the intercept for the regression equation to forecast demand, in the worksheet: Food Truck Demand?

Answered: 1 week ago

Previous Question Next Question