Susan records a document, given to her by Thomas, in the county clerk's office. The document states that: 'I, Thomas, grant to Susan a right of way for persons and vehicles along and upon the easterly 30 feet of the southerly 64 feet of Lot I, Block 2, Smith's Addition to the City of Ontario, in order to give access to Susan's restaurant.' The interest intended to be granted in the document is

Answers

Answer 1

Answer: Easement

Explanation: Easement may best be explained as the right granted to people or persons by a landowner to thread on his or her property without taking ownership or being prosecuted or punished. Easement such as the one issued by Thomas in the scenario described above, was used to grant pathway access to Susan's customers whose restaurant is located along a route and would require passage through Thomas property. The easement above could also be called right-of-way.


Related Questions

The combination of one or more communication tools used to inform prospective buyers about the benefits of the product, persuade them to try it, and remind them later about the benefits they enjoyed by using the product is referred to as the

Answers

Answer:

the promotional mix

Explanation:

All of the different aspects described in the question are part of a group known as the promotional mix. In the context of marketing, this mix describes a blend of promotional variables chosen by marketers to help a firm reach its goals. This mix is divided into 5 categories which are, advertising, PR, promotions, direct marketing, and personal selling. Each with its own function but all working toward the same goals.

If an advertisement is affiliated with a website's content, what might that suggest?
A. that the information you find is biased
B. that the advertisements were free
C. that the advertisements financially support the site
D. that the information you find will be entirely untrue
I'm confused between some answers can someone clarify.

Answers

Answer:

It suggests that the advertisement financially supports the website  ( C )

Explanation:

Affiliation is the official attachment of businesses with common interest wherein one party controls or is in-charge of the business relationship between the parties. in some cases a third party might be in control as well.

The information found on an advertisement that is affiliated with a website content shows that the advert and the website are in business together hence the advert supports the website financially, because the details contained in the advert might be drawn from the contents of the websites.

Susan is a new management trainee at Barney's Bats, Inc. She has just graduated with her bachelor's degree in management and is anxious to use her education. She has been at work several days and has some questions about how the organization is managed and how the principles of organization structure are used in the company. She believes there is too much specialization and that the span of control in the company is not optimal. Susan is looking for a long-term career with this company. Where can she look to view possible career paths with this company?

Answers

Answer: The organization chart

Explanation:

Based on the scenario that have been analysed in the question, Susan can view possible career paths with this company from the organization chart.

The organizational chart is a diagram that shows the internal structure of an organization by showing the roles carried out by the employees and the relationships that exists between them.

prove that F=Gm1m2/d2​

Answers

Answer:

From the statement of Universal law of gravitation,

F ∝ m1 m2

F ∝ 1/d²

by combing above two equations we get,

F ∝ m1 m2/d²

F = G m1 m2/d²

HOPE THIS HELP!!

MARK IT AS BRAINLIEST!!!!

ristan conducts service and installation visits for a cable company. He uses an online system to access a client's history and updates the system with results from all interactions. This is an example of using _______ to be responsive and build loyalty. business-level strategy process reengineering customer relationship management self-managed work teams total quality management

Answers

Answer: customer relationship management

Explanation:

Customer relationship management has to do with the way organizations relate with their customers in order to meet their needs and satisfy them better.

From the question, we are informed that the worker uses the customer relationship management to access a client's history and updates the system with results from all interactions.

The monetary liabilities of the Federal Reserve include currency in circulation and discount loans. government securities and reserves. currency in circulation and reserves. government securities and discount loans.

Answers

Answer:

currency in circulation and reserves.

Explanation:

The Federal Reserve System ( popularly referred to as the 'Fed') was created by the Federal Reserve Act, passed by the U.S Congress on the 23rd of December, 1913. The Fed began operations in 1914 and just like all central banks, the Federal Reserve is a United States government agency.

Generally, it comprises of twelve (12) Federal Reserve Bank regionally across the United States of America.

The monetary liabilities of the Federal Reserve include currency in circulation and reserves. The currency in circulation includes all of the US paper currency (dollar bill) that are available in the country while reserves refers to the minimum deposits being held for the U.S Treasury and depository financial institutions by the Fed.

Additionally, the overall sum of the United States of America treasury monetary liabilities and the Federal Reserve System's monetary liabilities is generally referred to as the monetary base.

A business client is looking for ways to decrease its monthly premiums. To get down to the premium level sought after by the company, the agent realizes they have to go to a high deductible health plan. As part of your advice to the business, what should you include in your discussion?

Answers

Answer:

"Health savings accounts (HAS)" is the appropriate answer.

Explanation:

HAS should be used with values that are generally insurance coverage. With either an HSA, extra cash can be placed into another consideration that has been protected mostly on the purchase price, and afterward investments can also be used for predefined hospital expenses.Since the investments throughout the HSA consideration could also be used for healthcare facilities, respondents frequently use them instead of unprotected methodologies including certain chiropractic appointments and perhaps certain health-related facilities not encompassed by their insurers.

Iggie took a university teaching job as an assistant professor in 1980 at a salary of $15,000. By 2011, she had been promoted to full professor, with a salary of $70,000. If the price index was 82 in 1980 and 225 in 2011, then what is Iggie's 2011 salary in 1980 dollars

Answers

Answer:

$25,511.11

Explanation:

Iggie's salary in 1980 dollars = (salary / 2011 price index) x 1980 price index = ($70,000 / 225) x 82 = $25,511.11

The price index shows us how much the value of money has changed over time. In this case, $82 in 1980 could purchase X goods. In 2011, you would need $225 in order to be able to purchase the same amount of X goods.

Can someone help me please????????

Answers

Answer:

25% = 0.25 = 25/100 --> 1/4

90% = 0.90 = 90/100 --> 9/10

60% = 0.6 = 3/5

35% = 0.35 = 35/100 --> 7/20

33.3...% = 0.33...  = 1/3

65% = 0.65 = 65/100 --> 13/20

How to calculate percentage:

[From decimal]

Decimal x 100 = percentage

e.g. 0.2 x 100 = 20%

[From fraction]

Numerator / Denominator x 100 = percentage

top number / bottom number x 100 = percentage

e.g. 3/5 --> 3 / 5 x 100 = 0.6 x 100 = 60%

How to calculate decimal:

[From percentage]

Percentage / 100 = Decimal

e.g. 45% / 100 = 0.45

[From fraction]

Numerator / Denominator = Decimal

top number / bottom number = Decimal

e.g. 7/8 = 7 / 8 = 0.875

How to calculate fraction:

[From percentage]

Percentage number / 100 --> simplify

e.g. 38% --> 38/100 --> 19/50

[From decimal]

Decimal x 100 / 100 --> simplify

e.g. 0.75 --> 0.75 x 100 = 75 --> 75/100 --> 3/4

Hope this helps :)

Three Point Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA).
For the first 6 months of 2017, the company reported the following operating results while operating at 80% of plant capacity and producing 119,400 units:
Sales $4,656,600
Cost of goods sold 3,684,708
Selling and administrative expenses 526,292
Net income $445,600
Fixed costs for the period were cost of goods sold $ 960,000 and selling and administrative expenses $ 266,000.
In July, normally a slack manufacturing month, Three Point Sports receives a special order for 10,000 basketballs at $ 28 each from the Greek Basketball Association (GBA).
Acceptance of the order would increase variable selling and administrative expenses by $ 0.77 per unit because of shipping costs but would not increase fixed costs and expenses.
Required:
(a) Prepare an incremental analysis for the special order.
(Round all per unit computations to 2 decimal places)
Reject Order Accept Order Net Income Increase (Decrease)
Revenues $ $ $
Cost of goods sold
Selling and administrative expenses
Net income $ $ $
(b) Should Three Point Sports Inc. accept the special order?
(c) What is the minimum selling price on the special order to produce net income of $5.16 per ball?
(Round answer to 2 decimal places)

Answers

Answer:

a) incremental analysis

normal selling price = $39 per ball

variable costs per unit:

variable COGS $22.82variable S&A $2.18 + $0.77 = $2.95

special order for 10,000 balls at $28

                     INCREMENTAL ANALYSIS

                                  without special        with special        differential

                                  order                        order                   amount

sales revenue            $0                            $280,000           $280,000

COGS                         $0                            $228,200           $228,200

S&A expenses           $0                             $29,500             $29,500

Net income                $0                            $22,300             $22,300

b) The special order should be accepted because it increases operating profits by $22,300

c) current margin = $2.23 per ball

sales price to produce net income of $5.16 per ball = $28 + ($5.16 - $2.23) = $30.93 per ball

A. an incremental analysis of $2.95

B. Increases operating profits by $22,300

C. The minimum selling price is $30.93 per ball

Calculation of Fixed costs

a) The incremental analysis

Then, normal selling price = $39 per ball

variable costs per unit:

variable COGS $22.82

Therefore, variable S&A $2.18 + $0.77 = $2.95

special order for 10,000 balls at $28

                                        INCREMENTAL ANALYSIS

                                 without special        with special        differential

                                 order                        order                  amount

                                                                                                                             

sales revenue            $0                            $280,000           $280,000

COGS                         $0                           $228,200           $228,200

S&A expenses           $0                             $29,500             $29,500

Net income               $0                            $22,300             $22,300

b) When The special order should be accepted because it increases operating profits by $22,300

c) Then, The current margin is = $2.23 per ball

After that sales price to produce net income of $5.16 per ball is = $28 + ($5.16 - $2.23) = $30.93 per ball

Find more informarion about Fixed costs here:

https://brainly.com/question/2190896

Buyers of put options anticipate the value of the underlying asset will __________, and sellers of call options anticipate the value of the underlying asset will ________. Group of answer choices Cannot tell without further information increase; decrease decrease; increase decrease; decrease increase; increase

Answers

Answer:

Decrease;decrease.

Explanation:

In Business, an option is a legal contract which gives a buyer the right but not an obligation, to sell (such as put) or buy (such as a call) the underlying asset at a specific or given price on or before a certain date.

Generally, buyers of put options anticipate the value of the underlying asset will decrease, and sellers of call options anticipate the value of the underlying asset will decrease.

Blue Nile is an online retailer of diamonds that has used responsive transportation to ship diamonds to customers in the United States, Canada, and several countries in Europe and Asia. Which is the mode of transportation used with this strategy

Answers

Answer:

Air transportation.

Explanation:

Responsive transportation is a form of shared transportation system where regular public transit or a personalized taxi that are frequent on a particular route are used to enhance a speedy and economical delivery of items and passengers en - route different destinations but in the same direction.

Looking at the three major modes of transportation which are road , air and sea, the one that suits this scenario is the Air system.

Being an international route , the road system does not fit in , and the ship on the sea is not a good option for responsive transportation considering its speed.

Suppose that the market portfolio is equally likely to increase by 24% or decrease by 8%. Security "X" goes up on average by 29% when the market goes up and goes down by 11% when the market goes down. Security "Y" goes down on average by 16% when the market goes up and goes up by 16% when the market goes down. Security "Z" goes up on average by 4% when the market goes up and goes up by 4% when the market goes down. The expected return on security with a beta of 0.8 is closest to: 3.2% 6.4% 0.0% 7.2%

Answers

Answer:

The expected return on security with a beta of 0.8 is closest to 7.2%.

Explanation:

This can be determined as follows:

Since the return of security Z remains at 4% despite the change in the market, security Z is the risk-free asset.

Note that a risk free asset is an asset which its returns does not change with change in the market.

Using the Capital Asset Pricing Model (CAPM) formula, we have:

Er = Rf + (B * MPR) ............................................ (1)

Where;

ER = Expected return = ?

Rf = Risk-free rate = Rate of return of security z = 4%

B = Beta = 0.8

MPR = Market risk premium = Expected return on the market rate - Risk-free rate

Expected return on the market rate = (50% * 24%) + (50% *(-8%)) = 8%

Therefore, we have:

MPR = 8% - 4% = 4%

Substituting the values into equation (1), we have

Er = 4% + (0.8 * 4%)

Er = 0.072, or 7.2%

Therefore, the expected return on security with a beta of 0.8 is closest to 7.2%.

An investor interested in obtaining the benefit of professional portfolio management has been tracking a particular investment company for the past several months. In so doing, it becomes obvious that the market price of the shares moves in direct relation to the computed NAV. This investor must be following?
A) a balanced fund
B) a money market fund
C) an open-end fund
D) a closed-end fund

Answers

Answer:

C. an open-end fund

Explanation:

An open end fund also known as mutual fund is a diversified investment portfolio that does not have a limit in terms of shares that can be issued. In an open end fund, when shares are purchased by investors, more shares are created likewise shares are taken out of circulation when they are sold.

Majority of open end funds - mutual funds can issue new shares at all times as per response to the demand by investors. Shares bought and sold in open end fund are priced daily based on their current net asset value (NAV) . Example of open end funds are hedge funds, mutual funds, exchange traded funds (ETFs)/etc.

On 12/31/24, the Cheboygan Company paid $2,000 of prepaid insurance and expensed the entire amount. The policy covered the period 1/1/25 to 12/31/26. The error was discovered on 1/10/26; the 2025 books are closed. The correcting journal entry will include what entry to 1/1/26 Retained Earnings?

Answers

Answer:

The correcting journal entry will include:  A credit entry to 1/1/26 Retained Earnings.

Explanation:

On Payment the entry must have been :

Prepaid Insurance $2,000 (debit)

Cash $2,000 (credit)

By the end of year 2025, one year insurance will have expired and entries will be as follows :

Insurance Expense $,1000 (debit)

Prepaid Insurance $1,000 (credit)

But Instead the entry in error was made as :

Insurance Expense $,1000 (debit)

Cash $2,000 (credit)

This results in the Retained Earnings being Understated by $1,000 .

The amount of overstatement is corrected as :

Prepaid Insurance $,1000 (debit)

Retained Earnings $,1000 (credit)

Albany Motors recently completed a 3-for-1 stock split. Prior to the split, the company had 10 million shares outstanding and its stock price was $150 per share. After the split, the total market value of the company's stock equaled $1.5 billion. What was the price of the company's stock following the stock split

Answers

Answer:

$50

Explanation:

The computation of the price of the company's stock following the stock split is shown below:-

Number of shares = 3 × 10 million

= 30 million

Price of the company's stock

= Total market value ÷ Number of shares outstanding

= 1.5 × 10^9 ÷ 30 × 10^6

= 1.5 × 10^2 ÷ 3

= 150 ÷ 3

= $50

We simply applied the above formulas so that the price of the company stock after stock split could come

A company has average demand of 30 units per day. Lead time from the supplier averages seven days. Assume that the combined standard deviation of demand during lead time has been calculated and is equal to 20 units. One unit costs $10 and the inventory carrying cost is 25 percent. 1 standard deviation covers 84.13% 1.04 standard deviations covers 85% 1.28 standard deviations covers 90% 1.65 standard deviations covers 95% 1.96 standard deviations covers 97.5% 2 standard deviations covers 97.72% 2.33 standard deviations covers 99% 3 standard deviations covers 99.86% 6 standard deviations covers 99.99966% What is the reorder point for the company if it decides on a 99 percent service level?

Answers

Answer:

Re-order quantity = 256.6 or 257 units

Explanation:

We can calculate the reorder point for the company at 99% service level as follows

Solution

The Standard deviation of demand during lead time = sigma

Average daily demand = d

lead time = L

Standard deviation covered 99%  = Z

DATA

Sigma =20 units

d= 30 units per day

L= 7 days

Z= 2.3

Calculation

Reorder quantity = (d x L) + (Z x sigma)

Reorder quantity = (30x7) + (2.33 x 20)

Reorder quantity = 210 + 46.6

Reorder quantity = 256.6 or 257 units

If the distribution of water is a natural monopoly, then (i) multiple firms would likely each have to pay large fixed costs to develop their own network of pipes. (ii) allowing for competition among different firms in the water-distribution industry is efficient. (iii) a single firm can serve the market at the lowest possible average total cost. Group of answer choices

Answers

Answer:

The question is incomplete, the options are missing. The options are the following:

A) (i) and (iii) only.

B) (ii) and (iii) only.

C) (i) and (ii) only.

D) (iii) only.

And the correct answer is the option D: (iii) only.

Explanation:

To begin with, the concept known as "Natural Monopoly" is understood to be the structure of market in where the organization that is considered to be a natural monopoly is the only seller in the market it is because the company has huge economies of scale and due to that reason it will naturally gain the whole market and the other companies will not be able to compete and will exit the market. So therefore that when there is a natural monopoly a single firm can serve the market at the lowest possible average total cost.

For a new Madden video game, EA Sports decides to have Antonio Brown on the cover and run an ad campaign on ESPN. After the advertisement has run, EA Sports asks ESPN viewers if they recall the advertising and if it changed their attitudes about the product. What is this process called?

Answers

Answer:

Post testing

Explanation:

Post-testing is the testing that could be done after finishing the product. It is to be done to check the performance, efficiency, effectiveness of the product so that if there is any error then it can be solved

Here in the given situation, after running the advertisement EA sports ask ESPN viewers for restarting the advertising also it changed the attitudes with respect to the product or not

So this we called as post-testing

A company issues $1,500,000 of par bonds at 98 on January 1, year 1, with a maturity date of December 31, year 30. Bond issue costs are $90,000, and the stated interest rate of the bonds is 6%. Interest is paid semiannually on January 1 and July 1. Ten years after the issue date, the entire issue was called at 102 and canceled. The company uses the straight-line method of amortization for bond discounts and issue costs, and the result of this method is not materially different from the effective interest method. The company should classify what amount as the loss on extinguishment of debt at the time the bonds are called

Answers

Answer:

$110,000 loss

Explanation:

Given the following :

Par value = $1,500,000 at 98

Maturity = 30 years

Interest rate = 6% paid semianually

Ten years after issue date, entire issue was called at 102 and canceled

Issue price of bond = (1500000 * 98%) = $1,470,000

Discount on issue = $1,500,000 - 1,470,000 = $30,000

After 10 years when bond was canceled :

Discount balance ;

($30,000 / maturity) * (maturity - 10)

($30,000/30)* 20 =1000 * 20 = $20,000

Issuing cost balance:

($90,000/30)*20 = 3000 * 20 = $60,000

Therefore, upon cancelation :

Carrying amount of bond

$(1500000 - 20000 - 60000) = $1,420,000

Reacquisition price :

($1,500,000 * 102%) = $1,530,000

Loss or gain :

$1,530,000 - $1,420,000 = $110,000 (loss)

Contrary to financial analysts, who predicted last year that the market for home computers would dwindle, the personal computer industry continued to show strong growth in the first quarter of this year.(a) analysts, who predicted(b) analysts, whose predictions(c) analysts and their predictions(d) analysts' predicting(e) analysts' predictions

Answers

Answer:

e) analysts' predictions

Explanation:

In contrast to the financial analyst, who estimated that in the last year the home computer market would be decline but at the same time the industry of the personal computer depicts the strong growth for the first quarter of the year

So here this given situation represents the estimation of the analyst and the same is to be considered

hence, the correct option is e.

All of the following are important emergency management planning principles EXCEPT FOR: A. Planning must be community based, representing the whole population and its needs. B. Planning is fundamentally a process to manage risk. C. Planning should be flexible enough to address both traditional and catastrophic incidents. D. Planning results in unique plans for every type of threat or hazard.

Answers

Answer:

Correct Answer:

A. Planning must be community based, representing the whole population and its needs.

Explanation:

In any given situation, there maybe need to manage and mitigate the threat, hazards caused by an individual. This mitigation would be done through planning in-order to over come it. And, also, the planning could be individual based or group based (Community type of planning).

Answer:

D. Planning results in unique plans for every type of threat or hazard.

Explanation:

Emergency Management Plans are those measures developed ahead of time to handle emergencies. These plans are developed to handle activities that are prone to risks. Examples include natural disasters and cybercrimes. When making these plans, care should be taken to ensure that they embrace a 'whole-of-community' approach. This entails a careful analysis of the different categories of people that can be affected by these disasters as well as the specific locations where they can occur in the community. The methods developed should also be flexible enough to handle both local crises as well as very severe crisis.

It is important to note that unique plans cannot be developed for every type of hazard, rather common capabilities should be identified which can be applied to all hazards.

Suppose that the current exchange rate between the dollar and peso is $1 equals 10 pesos. If a firm in Mexico wanted to purchase $100,000 worth of U.S. televisions, how many pesos must they exchange? Question 39 options: A) 1,000,000 pesos B) 10,000 pesos C) 11,000,000 pesos D) 100,000 pesos

Answers

Answer:

A) 1,000,000 pesos

Explanation:

The computation of the number of pesos must they exchange is shown below:

= Worth of U.S televisions × number of pesos

= $100,000 × 10 pesos

= 1,000,000 pesos

We simply multiplied the worth of U.S televisons with the number of pesos so that the number of pesos exchange could come and the same is to be considered

Shaw Company engages Maya Company to produce a large machine, install the machine, and train their employees on the machine. The machine, installation, and training are distinct, and Maya determines that the contract includes three separate performance obligations. The machine, installation, and training typically cost $800,000, $100,000, and $100,000 respectively when each is provided in a separate contract. Shaw and Maya agree to a total contract price of $920,000. How much of the contract price should Maya allocate to the machine, installation, and training, respectively?

Answers

Answer:

Explanation:

Cost

Machine - 800,000

Installation - 100,000

Training - 100,000

Total cost - 1,000,000

Contract price - 920,000

Using ratio to allocate the prices , we have

a)Machine price = cost of machine / total cost * total contract price

800,000/1,000,000*920,000 = 736,000

b) Installation price =cost of installation / total cost * total contract price

100,000/1,000,000*920,000 = 92,000

c) Training price  = cost of training / total cost * total contra t price

100/1,000,000 * 920,000 = 92,000

736,000+92,000+92,000= =920,000

Product differentiation refers to: consumers who sort and group goods based on similar characteristics. firms who offer similar products to their competitors' products, but that are more attractive in some way. the process of informing the public of differences in products as a result of error. the process of creating a standardized product with a lower-cost method than the competitors' method.

Answers

Answer:

firms who offer similar products to their competitors' products, but that are more attractive in some way

Explanation:

Product differentiation is marketing strategy where a firm makes its different from that of its competitors in order to make the product more attractive to consumers

If you put $100 into a bank account that earns five percent interest per year, what is the formula you should use to determine the account's future value in one year? Group of answer choices Future value equals the present value multiplied by the rate of interest. Future value equals the present value divided by the rate of interest. All of these yield the same answer. Future value equals the present value multiplied by one plus the rate of interest in decimals.

Answers

Answer:

Future value equals the present value multiplied by one plus the rate of interest in decimals.

Explanation:

Future value = present value x (1 + interest rate)

Interest rate = present value x interest rate

Tina buys a cat and keeps it in her apartment, even though her apartment lease includes a clause that prohibits tenants from owning a pet. She does not remove the cat even after the landlord gives her a written reminder of the lease agreement and insists that she remove the pet from the apartment. Tina refuses, saying that the cat is very small and will cause no damage to the apartment. The landlord decides to remove Tina due to the breach of the lease agreement. The legal process to remove the tenant is known as

Answers

Answer:

actual eviction.

Explanation:

Since in the question it is mentioned that the Tina who buys a cat but as per the agreement it is written that it prohibits tenants from owning a pet. But after so many warnings but she denied to remove the cat. This results to remove the tenant as it is a breach of the lease agreement

Therefore this scenario represents the actual eviction as it is physically forced to leave the apartment when the tenant ignored the warnings given by the landlord. In this, the landlord could also include the police

A monopolist engages in price discrimination Question 11 options: A) by charging a higher price when marginal cost is lower. B) by charging a higher price to consumers whose demand is more elastic. C) by charging a lower price to consumers whose demand is more elastic. D) by charging the same price to all consumers.

Answers

Answer:

C) by charging a lower price to consumers whose demand is more elastic.

Explanation:

A monopoly is when there is only one firm operating in an industry. there is usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.

An example of a monopoly is an utility company

Price discrimination is when a seller sells the same good at different buyers in different markets.

A seller should sell a good at a higher price to the consumer with a less elastic demand and at a lower price to the consumer with the more elastic demand so as to maximise revenue.

Candidates for depth interviews could include a. current customers. b. members of the target market. c. executives and managers of the company. d. All of these are candidates for depth interviews.

Answers

Answer: d. All of these are candidates for depth interviews.

Explanation:

Depth interview is a research technique which is qualitative and involves conducting individual interviews which are very intense with the respondents in order to have their idea regarding certain topics or issues.

Candidates for depth interviews could include current customers, members of the target market and the executives and managers of the company. Therefore, all of these are candidates for depth interviews.

A company purchased equipment and signed a 4-year installment loan at 10% annual interest. The annual payments equal $10,600. The present value of an annuity factor for 4 years at 10% is 3.1699. The present value of a single sum factor for 4 years at 10% is .6830. The present value of the loan is:

Answers

Answer:

$33,600.94

Explanation:

the present value of the loan = annuity payment x annuity factor = $10,600 x 3.1699 = $33,600.94

we can check that this amount is correct by:

first payment = $10,600 - ($33,600.94 x 10%) = $7,239.91

principal balance after first payment = $33,600.94 - $7,239.91 = $26,361.03

second payment = $10,600 - ($26,361.03 x 10%) = $7,963.90

principal balance after second payment = $26,361.03 - $7,963.90 = $18,397.13

third payment = $10,600 - ($18,397.13 x 10%) = $8,760.29

principal balance after third payment = $18,397.13 - $8,760.29 = $9,636.84

fourth payment = $10,600 - ($9,636.84 x 10%) = $9,636.32

principal balance after fourth payment = $9,636.84 - $9,636.32 = $0.52 (rounding error)

Other Questions
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