A certain college graduate borrows 6900 dollars to buy a car. The lender charges interest at an annual rate of 18%. Assuming that interest is compounded continuously and that the borrower makes payments continuously at a constant annual rate k dollars per year, determine the payment rate that is required to pay off the loan in 7 years. Also determine how much interest is paid during the 7-year period.
Answers
Answer:
a) k = $1734.86 per year
b) $5244.02
Explanation:
Principal ( borrowed ) = $6900
Annual interest rate = 18% ( compounded continuously )
Borrower makes a continuous payment at a constant rate : $k per year
a) Determine payment rate required to payoff loan ( in 7 years )
let loan at time ( t ) = x
x = $6900 , at t = 0
rate of increase of loan amount = 0.18x
rate of decrease of loan amount = k
∴ net change of loan x
= dx/dt = 0.18x - k
hence ; dt = dx / ( 0.18x - k )
k = $1734.86 per year
attached below is a part of the solution
b) Determine how much interest is paid during 7-year period
Interest paid in 7 years
= Amount paid - principal amount
= ( 1734.86 * 7 ) - 6900
= $5244.02
Related Questions
In a closed economy, if Y remained the same, but G rose, T rose by the same amount as G, and C fell but by less than the increase in T, what would happen to private and national saving
Answers
Answer:
private saving would rise and national saving falls
Explanation:
private saving is income - consumptiioon= Y-C
if consumption c falls, private saving is going ton rise
public saving is T-G
as G goes up, T-G which is public saving would reduce or fall.
Given that the fall in c is smaller than the rise in G, the rise in private saving would smaller than the fall in public saving.
national saving is change in private saving + change in public saving
given that change in private saving is less than that of public saving, national saving would be negative.
Earline rented a drilling machine from Quatero Rental Corp. While Earline was drilling as instructed by the product manual, the drill bit snapped and injured her seriously. A thorough examination of the broken drill bit showed that it had a flaw that caused it to snap under intense heat or pressure. Under these circumstances, Quatero will _____.
Answers
Answer:
The options are
A. be held liable for Earline's injuries because a bailment for the sole benefit of the bailee was created
B.be held liable for Earline's injuries if it knew of the flaw in the drilling machine when it rented it to Earline, but failed to warn her of the defect
C.not be held liable for Earline's injuries because both Quatero and Earline share mutual benefits from the bailment
D.not be held liable for Earline's injuries because it is a private contract carrier and is held to a lower level of responsibility
The Answer is B. be held liable for Earline's injuries if it knew of the flaw in the drilling machine when it rented it to Earline, but failed to warn her of the defect
The drilling machine having a fault and Quatero Rental Corp. being aware of it and not telling Earline about it means the company is at fault and will be held liable for any form of injury or death it poses. This is because it’s their responsibility to ensure goods and services being rendered are safe for use and consumption and it applies to all companies.
evaluate the failure of Apple at meeting customer needs
Answers
Answer:
lol
Explanation:
i need points
What is your major(potential) in college?
Answers
Which section of a business plan gives details about a business’s core products and services?
The section of a business plan talks about a business’s core products and services, and their features and benefits to the consumers.
Answers
Answer:
Executive summary.
Explanation:
A business plan can be defined as a formally written document that comprises of the financial and operational objectives (plans) of a business firm.
Basically, a business plan is a roadmap or guide that outline the goals of a business, methods on how to achieve those goals, and the timeframe required to achieve those goals.
A business plan should be written in such a way that it comprises of all the important informations that an investor looks out for, in order to convince him or her to invest money in the business. Thus, the main section (contents) of a business plan include the following;
I. Title page.
II. Market analysis and competition.
III. Industry overview.
IV. Operating plan.
V. Sales and marketing plan.
VI. Financial plan.
VII. Management plan.
VIII. Appendices and exhibits.
IX. Executive summary.
The executive summary section of a business plan talks about a business’s core products and services, and their features and benefits to the consumers. Thus, the executive summary is the most important section of a business plan because it provides a concise summary of the business and it's the first section to be seen by an investor.
what are the types of cheque
Answers
Answer:
Bearer Cheque.
Order Cheque.
Crossed Cheque.
Open Cheque.
Post-Dated Cheque.
Ante Dated Cheque.
Stale Cheque.
Traveler's Cheque.
Answer:
hey mate plz mark it as brainliest
Explanation:
Bearer Cheque.
Order Cheque.
Crossed Cheque.
Open cheque.
Post-Dated Cheque.
Stale Cheque.
Traveller's Cheque.
Self Cheque.
What is NOT an aspect of agile and dynamic business processes? a) Developed to assist in incremental process improvement d) Change requires significant redesign work e) Quick to support shifting business requirements c) Allows for firms to take advantage of the newest innovations b) Relies on an advanced degree of information technologies
Answers
Answer:
d) Change requires significant redesign work
Explanation:
It is correct to say that work redesign is not an aspect of agile and dynamic business processes, as it is a process of molding work functions, which can occur gradually according to new technologies and internal and external changes of the organizational environment.
The work redesign will reorganize the work in an organization, which can be a positive point that helps the company to update itself on the best practices and work processes, but it requires constant efforts by the organization in relation to training and adaptation of employees, which can be a long process for organizations.
Priya, a software developer at SkillThink, is instructed by her team leader to minimize interaction with other team members. However, her project manager says that interacting with other team members can provide new insights for her projects. In this scenario, Priya most likely experiences _____. Group of answer choices interpersonal conflict interrole conflict intrarole conflict
Answers
Answer:
intrarole conflict
Explanation:
A conflict can be defined as any form of disagreement that arises between two or more parties due to opposing views, opinions, or incompatibility.
In this scenario, Priya most likely experiences intrarole conflict because she was instructed by her team leader to minimize interaction with other team members to prevent her from getting new insights for her projects.
An intrarole conflict is a type of conflict that arises due to the conflict related to behaviors within a single job position or role.
After his company announced that it plans to cut 30% of the workforce within the next 90 days, Deon begins to experience chronic headaches and insomnia. These symptoms are signs of ______ strain.
Answers
Answer:
physiological
Explanation:
From the question we are informed about an instance whereby, After his company announced that it plans to cut 30% of the workforce within the next 90 days, Deon begins to experience chronic headaches and insomnia. These symptoms are signs of physiological strain.
physiological strain can be regarded as one that contains of at least two stressors, these stressors can be inform of pulling an individual in different directions or pushing in different directions. It is possible for someone to have numerous stresses experience but not numerous strains. Strain can as well be regarded as excessive exertion, it can be undue extension of muscles.
.
Suppose the population of a country is 1.1 million and the labor force is 800,000. 760,000 are employed. Assume that full-employment occurs at a 4 percent unemployment rate at a real GDP level of $100 billion. Based on the information above use Okun's Law to find how much potential GDP has been lost because the economy is not at full employment
Answers
Answer: $2 billion
Explanation:
Okun's law posits that for every percentage point that actual unemployment rate is above the natural unemployment rate, actual GDP will be lower than potential GDP by 2%.
Actual rate of unemployment here is:
= (Labor force - Employed) / Labor force
= (800,000 - 760,000) / 800,000
= 5%
Actual unemployment - Natural unemployment:
= 5 - 4
= 1%
Potential GDP lost is:
= (1% * 2) * 100 billion
= 2% * 100 billion
= $2 billion
Terra Corp. is incorporated in Florida with its principal office in Destin. Phyllis is the president of Terra Corp. and owns 51% of its shares. A potential buyer approached Phyllis with an offer to purchase her shares. The buyer offered Phyllis an additional bonus if Phyllis would step down from her office as president. Phyllis approached her attorney to determine whether the agreement to sell her shares is valid. The attorney should advise Phyllis that:
Answers
Answer: The agreement breaches Phyllis's fiduciary duty of loyalty as an officer of the corporation.
Explanation:
The attorney should advise Phyllis that the agreement breaches Phyllis's fiduciary duty of loyalty as an officer of the corporation.
The duty of loyalty forbids an officer from having his personal interests above that of the corporation. In this situation, accepting a bonus in order to give up the presidency simply means the officer has out his interest above those of the corporation, hence this is a breach of duty.
Long-term orientation encourages ______. a.neither thrift nor spending b.spending c.both thrift and spending d.thrift
Answers
Answer:
d
Explanation:
If a person has a Long-term orientation, they are more likely to save more than spend more. This is because they would be more concerned about meeting future expenses.
On the other hand, a short-term orientation encourages thrift
For example a person whose goal is to become a doctor is more likely to save than a person with a terminal illness with weeks to live
when a company following a differentiation strategy ensures that the higher price it charges for its higher quality is not priced too far about the price of competition, the company is using the process of
Answers
Answer:
cost proximity.
Explanation:
Cost proximity is a strategy that some organizations can follow to conquer the market. The strategy consists of offering differentiated products with more added benefits than competitors that use a mass product strategy, but without the price of their differentiated product being much higher than those of competitors. With this, the company is able to reach more consumers who perceive greater added benefit from purchasing a differentiated product at a price not much higher than a standard product.
Companies that use this strategy use a configuration of their value chain that allows for gains of scale that allow them to pass on a better price to the consumer without loss of profitability
You, the manager of an electronics store, have asked the salespeople in the camera department and the computer department to come up with regular, weekly ideas about how to increase sales. However, you have asked the people in the camera department to think of ideas independently, whereas you have asked the people in the computer department to get together every week and brainstorm. You should expect, after several weeks of this, that ____.
Answers
Answer:
A. the camera group will come up with more ideas, but the computer group will have a stronger group bond.
Explanation:
As a manager you have asked to the sales people that come with ides with respect how to increase the sales on weekly basis and at the same time you ask with the camera department to think independently while for computer department there should be get together so after several weeks we expected that the camera group should come with more ideas while on the other hand, the computer group created the strong bond in a group
You should expect, after several weeks of this, that the camera group will come up with more ideas, but the computer group will have a stronger group bond.
In many firms, the sales manger's ability to produce results through his salespeople determines the effectiveness of the marketing campaign. The difference between a good sales manager and one who is not can make a big difference in sales, earnings, and whether or not a marketing program pays off.
To know more about mangers, refer to the link:
https://brainly.com/question/15093168
Under the Uniform Commercial Code (UCC), in a simple delivery contract, once goods are identified in a contract the contract is considered _____.
Answers
Answer:
executed
Explanation:
Under the Uniform Commercial Code (UCC), in a simple delivery contract, once goods are identified in a contract the contract is considered executed.
What is Uniform Commercial Code (UCC)?The Uniform Commercial Code (UCC), a comprehensive body of legislation, governs all business transactions in the United States. It is a state law that has been uniformly enacted rather than a federal law. Uniformity of law is critical in this field for interstate business transactions. Businesses can enter into contracts knowing that the terms will be upheld consistently by courts in every American jurisdiction thanks to the UCC's widespread adoption. Because commercial connections are more secure as a result, businesses may expand and the American economy does well. The UCC has been referred to as "the backbone of American commerce" for this reason.
The Uniform Commercial Code (UCC) is a standardized set of business laws and regulations. The UCC code was created in 1953 as it became increasingly difficult for businesses to transact business across state lines due to differing state laws. 1
The Uniform Commercial Code (UCC) is significant because it provides a standard legal and contractual framework that allows companies from different states to transact with one another. The UCC laws have been fully adopted by the majority of states in the United States. Although there are some minor differences between states, the UCC code is divided into nine articles. The UCC articles cover a wide range of transactions, including banking and lending.
Uniform Commercial Code (UCC) laws govern personal property sales and other transactions. If you've ever bought a business or a car, you've probably signed a UCC-1 statement. The lender retains ownership of the title until the loan is paid off.
The Uniform Commercial Code (UCC) policies are primarily concerned with the activities of small businesses and entrepreneurs. Part of the goal is to clear up any confusion about how each state might regulate such operations separately.
To learn more about Uniform Commercial Code(UCC), click here
https://brainly.com/question/17284975
#SPJ2
HP has launched a new laptop computer with a bigger monitor and keyboard with larger letters. The company uses this model to target senior communities. The company targets 13 cities in the United States with high populations of seniors. This scenario exemplifies which type of market segmentation
Answers
Answer:
Geodemographic segmentation
Explanation:
Dividing potential customers into groups based on their lifestyles
A claim that is sent for reimbursement that contains all the required data elements to process the claim is referred to as a:
Answers
Answer:
Clean claim
Explanation:
A clean claim is defined as one that has complete documentation, no defect, special circumstance, or impropriety.
They meet all the requirements for easy processing.
Claims are made on Medicare services for reimbursement by insurance companies.
The other type of claim is the other-than-clean claims that requires further investigation before reimbursement is made.
If workers and firms have rational expectations, they understand that ________ monetary policy will raise the inflation rate, so actual inflation ________ expected inflation. contractionary; will be equal to expansionary; will be less than expansionary; will be equal to contractionary; will be less than expansionary; will be greater than
Answers
Answer:
expansionary; will be equal to
Explanation:
Remember, monetary policies are basically divided into:
expansionary monetary policy, andcontractionary monetary policy.Indeed, as the name implies, the expansionary monetary policy is meant to in a sense boost up economic growth in terms of reducing interest rates thereby theoretically increasing spending and also leading to an increase in the money supply. When there is an increase in the money supply, this thus leads to an increased inflation rate, which would be expected if workers and firms have rational expectations.
When Target decides the number and locations of warehouses it needs to build and operate, it is addressing the _______ element of the marketing mix.
Answers
Answer:
"Distribution" is the correct answer.
Explanation:
Disseminate such a big amount of the commodity upon the marketplace so that others may acquire the products before purchasing something that, could be defined as Distribution.It also includes the location as well as the configuration of anything inside or between individuals throughout higher dimensions.Thus the above is the correct answer.
If the quantity of financial capital supplied is equal to the quantity of financial capital demanded then, the national savings and investment identity is written as (M - X) - S
Answers
Answer:
False
Explanation:
If the quantity of financial capital supplied is equal to the quantity of financial capital demanded then, the national savings and investment identity is written as S + (M - X) = I + (G - T)
Where S = Private sector saving.
I= Private sector investment.
G= Government spending.
T=Government income, i.e. tax.
X =Exports.
M=Imports.
A family with an income of 70,000 receives a raise of 2% in a year when inflation is 5%. Find the decrease in purchasing power.
Answers
Answer:
They make 3% less per year
Explanation:
I think this is what you're asking but don't quote me on it
The location-specific advantages argument associated with John Dunning helps explain why firms prefer FDI to licensing or to exporting. True False
Answers
Answer:
false
Explanation:
False. The location-specific advantages argument associated with John Dunning does help explain the direction of FDI. However, the location-specific advantages argument does not explain why firms prefer FDI to licensing or to exporting.
quizlet
The soft drink, candy, and snack vending machines found in the Business building at University of Texas at Arlington are examples of: Group of answer choices automatic vending. self-service technologies. direct marketing. direct retailing. none of these.
Answers
Answer:
automatic vending
Explanation:
Margo is purchasing a home for $520,000. The property appraised at $550,000 and Margo is financing $416,000. What's the loan-to-value ratio
Answers
Answer:
Loan-to-value ratio = 0.8
Explanation:
Given information:
Purchase cost of house = $520,000
Property appraised value (House value) = $550,000
Margo finance (Loan amount) = $416,000
Find;
Loan-to-value ratio
Computation:
Loan-to-value ratio = Loan value / Purchase cost
Loan-to-value ratio = Margo finance (Loan amount) / Purchase cost of house
Loan-to-value ratio = 416,000 / 520,000
Loan-to-value ratio = 0.8
Prior to recording adjusting entries, the office supplies account had a $360 debit balance. A count of the supplies showed $105 of unused supplies remaining. The required adjusting entry is
Answers
Answer:
debit Office Supplies Expense, $255; credit Office Supplies, $255.
Explanation:
Based on the information given the required Appropriate adjusting journal entry is:
Debit Office Supplies Expense $255
Credit Office Supplies $255
($360-$105)
On March 7, a buyer and a seller execute a contract for the purchase of the seller's property. Closing is set for June 10. On April 15, the property is struck by lightning and destroyed by the resulting fire. If the Uniform Vendor and Purchaser Risk Act has been adopted by the state in which the property is located, which party bears liability for the loss?
Answers
Answer:
Under the act, the seller bears the loss alone.
Explanation:
Since in the given question it is mentioned that on march 7 the buyer and seller comes into the contract and on April 15 the property is destroyed so as per the given act, here the seller party bears the liability for the loss alone as he is full responsible of it also the closing is to be on June 10
Therefore the above should be the answer
Answer the following question on the basis of the information about the hypothetical economy of Nanawaiya. All figures are in the millions. Not in the labor force 45 Unemployed 7 Total population 45 Employed 95 Discouraged Workers 3 The labor force is __________ Group of answer choices
Answers
Answer:
102 million
Explanation:
Labor force is define as the sum of employed and unemployed in an economy.
Labor force = Employed+ Unemployed
Labor force = 95 million + 7 million
Labor force = 102 million
Smith Company produces and sells one product for $40 per unit. The company has no beginning inventories. Its variable manufacturing cost per unit is $18 and the variable selling and administrative expense per unit is $4. The fixed manufacturing overhead and fixed selling and administrative expense total $80,000 and $20,000, respectively. If Smith Company produces 8,000 units and sells 7,500 units during the year, then its net operating income under variable costing would be
Answers
Answer:
$35,000
Explanation:
net operating income under variable costing would be calculated by preparing income statement under variable costing.
Smith Company
income statement under variable costing system
Sales (7,500 x $40) $300,000
Less Cost of Sales (7,500 x $18) ($135,000)
Contribution $165,000
Less Expenses
selling and administrative expense ($4 x 7,500) ($30,000)
fixed overheads :
manufacturing ($80,000)
selling and administrative expense ($20,000)
Net Income $35,000
Although monetary policy cannot reduce the natural rate of unemployment, other types of government policies can. a. True b. False
Answers
Answer:
False
EXPLANATION:
Classical economist David Hume observed that as the money supply expanded after gold discoveries it took some time for prices to rise and in the meantime the economy enjoyed higher employment and production. This is inconsistent with monetary neutrality because monetary neutrality would mean that a. the prices should have risen, but production should not have changed. b. neither prices nor production should have risen. c. production should have risen, but prices should not have. d. the prices and production should both have fallen.
Answers
Answer:
a. the prices should have risen, but production should not have changed.
Explanation:
In the case when the money supply is expanded after considering the discoveries of gold so here the prices are increased due to which the economy as the higher employment and the production level. But it is not consistent with the monetary neutrality as the prices are increased but the production level remain same or unchanged
