you can ignore the part of flowcharting symbols because that is basically used for programmimg, all i require is the mathematical solution to this problem.
Homework Answers
If we want a monthly payment of 
We graph the function along with the required monthly payment to get:
So the required rate of interest is 
Add Answer to:
You can ignore the part of flowcharting symbols because that is basically used for programmimg, a...
(20 points) You borrow $3000 for four years at an annual effective interest rate of i....
(20 points) You borrow $3000 for four years at an annual effective interest rate of i. The investor pays interest only on the loan at the end of each year and accumulates the amount necessary to repay the principal at the end of four years by making level payments at the end of each year into a sinking fund (an account used to accumulate money needed to pay back a debt). The sinking fund earns an annual effective interest rate...
charged. 705 .1570 6.137 To buy a car costing $13 600 you can pay $1600 down...
charged. 705 .1570 6.137 To buy a car costing $13 600 you can pay $1600 down and the balance in 36 monthly payments lso borrow the money from a loan company and repay $13 600 by making quarterly payments of $1060 over 5 years, first payment to be made in 3 months. By comparing of $450 each. You can the annual effective rates of interest charged, determine which option is better. Ans. Borrow s of $1000
3. Suppose you borrow Pa dollars (called the principal) from a bank at 8 percent monthly...
3. Suppose you borrow Pa dollars (called the principal) from a bank at 8 percent monthly interest and repay the amount in equal monthly payments of M dollars. (a) If P(t) is the money owed at time t, show that Plt + A1) - P(O)(1+3) - M: P(t) = P. (12) (b) Solve the above equation for P(1) (e) What should your monthly payments be to completely repay the loan in N years? (d) Suppowe you owe $50000 in student...
c++ and please add tables and everything and make sure program is complete. Write a menu...
c++ and please add tables and everything and make sure program
is complete.
Write a menu driven program, which would compute compound interest and a monthly payment for a loan. The user will be given a choice to display the info on the screen or to a filo Menu will be the following Enter (1) to calculate your loan monthly payment Enter (2) to calculate your loan monthly payment & write to a file Tips: Compound Interest Formula A =...
In month 10, the payment amount is $183.36. Of this payment amount, $ repays the principal....
In month 10, the payment amount is $183.36. Of this payment amount, $ repays the principal. pays interest, and You can see from this sample repayment schedule that the repayment amount generally remains the same from month to month. However, as the months progress, a percentage of the payment pays interest, and a percentage repays the principal. The add-on method is a widely used technique for computing interest on installment loans. With the add-on method, interest is calculated by applying...
Barry Rich is a business major at State U. He will be graduating this year and...
Barry Rich is a business major at State U. He will be graduating
this year and is planning to start a consulting business. He will
need to purchase computer equipment that costs $34,000. He can
borrow the money from the local bank but will have to make annual
payments of principal and interest.
To determine the appropriate discount factor(s) using tables, click
here to view Tables I, II, III, or IV in the appendix.
Alternatively, if you calculate the discount...
I need help on question 2. MODULE IV: TIME VALUE OF MONEY INTRODUCTION The time value...
I need help on question 2.
MODULE IV: TIME VALUE OF MONEY INTRODUCTION The time value of money analysis has many a lysis has many applications, ranging from setting hedules for paying off loans to decisions about whether to invest in a partie financial instrument. First, let's define the following notations: I = the interest rate per period Na the total number of payment periods in an annuity PMT = the annuity payment made each period PV = present value...
This is an accounting project for my class. Can I please have the answers for each question and formulas? Not specific. Just the general formulas used for an annual payment, total interest payment, pe...
This is an accounting project for my class. Can I please have
the answers for each question and formulas? Not specific. Just the
general formulas used for an annual payment, total interest
payment, percentage of the total interest paid after 27 have been
made. Thank you.
Use the following check digits:
Sum Total Cash flow = Sum interest paid
Owe at end = $0
Sum Principal repaid = amount borrowed
Sum Total Payment = Sum Interest paid + Sum principal...
6. -/6 points CraudColAlg6 1.1.EX.017. 0/100 Submissions Used My Notes + Ask Your Teacher When you...
6. -/6 points CraudColAlg6 1.1.EX.017. 0/100 Submissions Used My Notes + Ask Your Teacher When you borrow money to buy a house or a car, you pay off the loan in monthly payments, but the interest is always accruing on the outstanding balance. This makes the determination of your monthly payment on a loan more complicated than you might expect. If you borrow P dollars at a monthly interest rate of r(as a decimal) and wish to pay off the...
On your student loans, if possible, try to make interest-only payments while you are still in...
On your student loans, if possible, try to make interest-only
payments while you are still in school. If interest is not repaid,
it folds into principal after graduation and can cost you hundreds
(or thousands) of extra dollars in finance charges. For example,
Sara borrowed $5000 at the beginning of her freshman year and
another $4,000 at the beginning of her junior year. The interest
rate (APR) is 9% per year, compounded monthly, so Sara's
interest accumulates at 0.75% per...
(20 points) You borrow $3000 for four years at an annual effective interest rate of i. The investor pays interest only on the loan at the end of each year and accumulates the amount necessary to repay the principal at the end of four years by making level payments at the end of each year into a sinking fund (an account used to accumulate money needed to pay back a debt). The sinking fund earns an annual effective interest rate...
charged. 705 .1570 6.137 To buy a car costing $13 600 you can pay $1600 down and the balance in 36 monthly payments lso borrow the money from a loan company and repay $13 600 by making quarterly payments of $1060 over 5 years, first payment to be made in 3 months. By comparing of $450 each. You can the annual effective rates of interest charged, determine which option is better. Ans. Borrow s of $1000
3. Suppose you borrow Pa dollars (called the principal) from a bank at 8 percent monthly interest and repay the amount in equal monthly payments of M dollars. (a) If P(t) is the money owed at time t, show that Plt + A1) - P(O)(1+3) - M: P(t) = P. (12) (b) Solve the above equation for P(1) (e) What should your monthly payments be to completely repay the loan in N years? (d) Suppowe you owe $50000 in student...
c++ and please add tables and everything and make sure program
is complete.
Write a menu driven program, which would compute compound interest and a monthly payment for a loan. The user will be given a choice to display the info on the screen or to a filo Menu will be the following Enter (1) to calculate your loan monthly payment Enter (2) to calculate your loan monthly payment & write to a file Tips: Compound Interest Formula A =...
In month 10, the payment amount is $183.36. Of this payment amount, $ repays the principal. pays interest, and You can see from this sample repayment schedule that the repayment amount generally remains the same from month to month. However, as the months progress, a percentage of the payment pays interest, and a percentage repays the principal. The add-on method is a widely used technique for computing interest on installment loans. With the add-on method, interest is calculated by applying...
Barry Rich is a business major at State U. He will be graduating
this year and is planning to start a consulting business. He will
need to purchase computer equipment that costs $34,000. He can
borrow the money from the local bank but will have to make annual
payments of principal and interest.
To determine the appropriate discount factor(s) using tables, click
here to view Tables I, II, III, or IV in the appendix.
Alternatively, if you calculate the discount...
I need help on question 2.
MODULE IV: TIME VALUE OF MONEY INTRODUCTION The time value of money analysis has many a lysis has many applications, ranging from setting hedules for paying off loans to decisions about whether to invest in a partie financial instrument. First, let's define the following notations: I = the interest rate per period Na the total number of payment periods in an annuity PMT = the annuity payment made each period PV = present value...
This is an accounting project for my class. Can I please have
the answers for each question and formulas? Not specific. Just the
general formulas used for an annual payment, total interest
payment, percentage of the total interest paid after 27 have been
made. Thank you.
Use the following check digits:
Sum Total Cash flow = Sum interest paid
Owe at end = $0
Sum Principal repaid = amount borrowed
Sum Total Payment = Sum Interest paid + Sum principal...
6. -/6 points CraudColAlg6 1.1.EX.017. 0/100 Submissions Used My Notes + Ask Your Teacher When you borrow money to buy a house or a car, you pay off the loan in monthly payments, but the interest is always accruing on the outstanding balance. This makes the determination of your monthly payment on a loan more complicated than you might expect. If you borrow P dollars at a monthly interest rate of r(as a decimal) and wish to pay off the...
On your student loans, if possible, try to make interest-only
payments while you are still in school. If interest is not repaid,
it folds into principal after graduation and can cost you hundreds
(or thousands) of extra dollars in finance charges. For example,
Sara borrowed $5000 at the beginning of her freshman year and
another $4,000 at the beginning of her junior year. The interest
rate (APR) is 9% per year, compounded monthly, so Sara's
interest accumulates at 0.75% per...
Most questions answered within 3 hours.
-
Explain the criteria used in selecting a target market
BUS220 Retail Management, thank you!
asked 1 minute from now -
Convert/Calculate the following:
Determine the identity of an elemental gas if 4.55 L weighing
35.4g, under...
asked 1 minute ago -
Consider the equilibrium C(s)+ CO2(g) ⇌2 CO(g)
A 2.0 L flask contains a mixture of 0.10...
asked 23 seconds ago -
MATLAB
Part 1 – randFloatValue.m This function accepts two numbers,
lower and upper, and returns a...
asked 6 minutes ago -
You have been asked to hide prizes around your house for your
3-year old nephew. His...
asked 7 minutes ago -
Ammonia will decompose into nitrogen and hydrogen at high
temperature. An industrial chemist studying this reaction...
asked 14 minutes ago -
10. Complete the table below
only using hexadecimal numbers:
AL CODE
EBX
EAX
[EAX]
mov eax,...
asked 32 minutes ago -
trust is best established through the combination of ------and
------- .
1. magnanimity and justice
2....
asked 46 minutes ago -
Blood pressure is normally taken on the upper arm at the level
of the heart. Suppose,...
asked 45 minutes ago -
Suppose that the satellite around the earth has an orbit that is
24 KM larger in...
asked 49 minutes ago -
Calculate the [OH (aq)] in limes which have a [H3O*(aq)] of 1.3 x
10 mol/L
asked 47 minutes ago -
A nozzle with a radius of 0.250 cm is attached to a garden hose
with a...
asked 58 minutes ago