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

Question

1 Approved Answer

the interest charged on a student loan that harmon obtained from the bank for four years was $1855. if the bank charged at a of

the interest charged on a student loan that harmon obtained from the bank for four years was $1855. if the bank charged at a of 4.35% compounded monthly, calculate the accumulated value of the loan at the end of the period. The answer is $11,634.57. Does anyone know the precess to finding that value

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

Step: 3

blur-text-image

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

Advances In Finance Investment And Banking Derivatives Regulation And Banking

Advances In Finance Investment And Banking Derivatives Regulation And Banking

Authors: Barry Schachter

1st Edition

0444820736, 9780444820730

More Books

Students also viewed these Finance questions

Question

★★★★★
Years of experience buying and selling commercial real estate have convinced many investors that the value of land zoned for business (y) is inversely related to its distance (x) from the center of...

Answered: 1 week ago

Question

★★★★★
What is the role of NLP in text mining? Discuss the capabilities and limitations of NLP in the context of text mining.

Answered: 1 week ago

Question

★★★★★
=+ b. What is the demand price at which consumers wish to purchase 80,000 pounds of lobsters?

Answered: 1 week ago

Question

★★★★★
A goal of financial literacy for children is to learn how to manage money wisely. One question is: How much money do children have to manage? A recent study by Schnur Educational Research Associates...

Answered: 1 week ago

Question

★★★★★
the interest charged on a student loan that harmon obtained from the bank for four years was $1855. if the bank charged at a of 4.35% compounded monthly, calculate the accumulated value of the loan...

Answered: 1 week ago

Question

★★★★★
You anticipate that Liebendauer Enterprises (ticker: LBE) will have earnings per share of $3 this year. Furthermore, you expect that they will pay out $1.75 of these earnings to shareholders in the...

Answered: 1 week ago

Question

★★★★★
Consider a variable rate mortgage for $100,000 with a 300-month amortization period, and with a nominal semiannual rate of 5% at loan origination. Suppose that the rate is held constant for the first...

Answered: 1 week ago

Question

★★★★★
The NAV of an equity fund is Rs. 76.45 and the face value is Rs. 10. An investor invests Rs 30,000. How many units will be allotted to him? (There is no entry load)

Answered: 1 week ago

Question

★★★★★
Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, and Roy. Amounts billed to clients for services rendered Cash collected...

Answered: 1 week ago

Question

★★★★★
An 8% grade means: There is an average of 8 collisions per 100,000 descents There is an 8% chance of your service brakes failing There is an average drop of 80 metres over 1 kilometer

Answered: 1 week ago

Question

★★★★★
Assume the variables str1, str2, and str3 have each been assigned a string. Write a statement that uses the print function and an F-string to display the value of str1, immediately followed by the...

Answered: 1 week ago

Previous Question Next Question