FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lauren is repaying a loan of 100,000 using the sinking fund method. At the end of each year, she pays 7000 into a sinking fund

image text in transcribed

Lauren is repaying a loan of 100,000 using the sinking fund method. At the end of each year, she pays 7000 into a sinking fund earning 8%. At the end of 5 years, Lauren pays off the loan using the sinking fund plus an additional payment of X. Calculate X

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image_2

Step: 3

blur-text-image_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

Case Studies In Finance

Case Studies In Finance

Authors: Robert F. Bruner

4th Edition

0072338628, 978-0072338621

More Books

Students also viewed these Finance questions

Question

★★★★★
Sort the table on Cost per Customer, from smallest to largest. a. Which city would have the lowest cost per customer, and what is the cost? b. Which has the highest cost per customer? c. What is the...

Answered: 1 week ago

Question

★★★★★
Understand the principles of a learning organization.

Answered: 1 week ago

Question

★★★★★
Demonstrate knowledge of the company/organization and the position.

Answered: 1 week ago

Question

★★★★★
Jana has a PAP with the following coverages: Liability coverages: $100,000/$300,000/$50,000 Medical payments coverage: $5,000 each person Uninsured motorists coverage: $25,000 each person Collision...

Answered: 1 week ago

Question

★★★★★
Fiber technology Inc., manufactures glass fibers in the communications industry, The company's materials and parts manager is currently revising the inventory policy for XL-20, one of the chemicals...

Answered: 1 week ago

Question

★★★★★
Dividend constraints Afirm has $850,000 in paid-in capital, retained earnings of $42.000 (including the current year's earnings), and 26,000 shares of common stock outstanding in the current year, it...

Answered: 1 week ago

Question

★★★★★
26. You are researching the effects of a stimulant drug on patients' attitudes. State a null and an alternative hypothesis for this study

Answered: 1 week ago

Question

★★★★★
When determining if an individual has a reasonable expectation of privacy regarding information stored on a computer the investigator should: seek approval of the software provider. attempt to gain...

Answered: 1 week ago

Question

★★★★★
1-Explain all types of cost used by the Colgate Palmolive Pakistan Limited company 2-Calculate the product price (Price= cost+profit +expenses) 3-Calculate Break Even Point (B.E.P) in term of units...

Answered: 1 week ago

Question

★★★★★
An industrial health nurse implements a safe shoe and boot program in a manufacturing organization. Which components are important elements when implementing this program? Select all that apply A-...

Answered: 1 week ago

Question

★★★★★
7. 26. f(x) 8. f(x) = -x; (-2, 0), (-2, 2) Find the average rate of change of y with respect to x (a) on the interval (1,3), (b) on the interval (3, 5). 27. f(x) 28. f(x 29. f(t) e of were YA 6 (3,6)...

Answered: 1 week ago

Question

★★★★★
Explain the purposes of managing performance.

Answered: 1 week ago

Question

★★★★★
List 4 methods to evaluate training.

Answered: 1 week ago

Question

★★★★★
Explain how a career development program integrates individual and organizational needs.

Answered: 1 week ago

Previous Question Next Question