Jill bought a $680 rocking chair. The terms of her revolving charge are 1.5% on the unpaid balance from the previous pays $100 per month, complete a schedule for the first 3 months. Be sure to use the U.S. Rule. (Round your final ans nearest cent.) Monthly payment number Outstanding 1.5% interest Amount of Reduction in Outstanding balance due payment monthly payment balance due balance due 2. 3 A Prev 2 of 15 Next > Mc Graw Hill MacBook Air
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- Define the following: i) Simple interest. ii) Breakeven point. iii) Ordinary annuity. b) When the price of a commodity is Sh. 530 the unit demand is 55 units. The demand is 120 units when the price is Sh. 270. If the cost of production is C = 2q + 150, Calculate the profit when 5 units are produced and sold. c) The present value of an annuity due is Sh. 284,000 after 4 years at a discount rate of 10%. Calculate the annual payment. d) A man deposits Sh. 12,000 in a bank at the beginning of each year. The compound interest is 12% per year. Calculate how long it will take for an accumulated amount of Sh. 95,000.▼ Cash Flow Present Discounted Value Interest Rate is based on the notion that a dollar paid in the future is less valuable than a dollar paid today. Part 2 The present value of a loan in which $3000 is to be paid out a year from today with the interest rate equal to 3% is $.(Round your response to the neareast two decimal place) Part 3 If a loan is paid after two years, and the amount $3000 is to be paid then with a corresponding 1% interest rate, the present value of the loan is $.(Round your response to the neareast two decimal place)▼ Cash Flow Present Discounted Value Interest Rate is based on the notion that a dollar paid in the future is less valuable than a dollar paid today. Part 2 The present value of a loan in which $3000 is to be paid out a year from today with the interest rate equal to 3% is $.(Round your response to the neareast two decimal place) Part 3 If a loan is paid after two years, and the amount $3000 is to be paid then with a corresponding 1% interest rate, the present value of the loan is $.(Round your response to the neareast two decimal place)
- How long will it take a sum of money to double at 11% annual percentage rate? ANSWER: 6.641Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month PreviousMonth'sBalance(in $) FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) April $643.17 $14.47 $33.45 $85.00 $606.09 May $ $ $286.33 $125.00 $Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $700 18 16% $ $ $
- A local bank advertises the following deal: "Pay us $100 at the end of each year for 10 years and then we will pay you (or your beneficiaries) $100 at the end of each year forever." Calculate the present value of your payments to the bank if the interest rate is 6%. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. What is the present value of a $100 perpetuity deferred for 10 years if the interest rate is 6%? Note: Do not round intermediate calculations. Round your answer to 2 decimal places.Consider a 529 (college savings) plan that will pay $20,000 once a year for a 4-year period (4annual payments). The first payment will come in exactly 5 years (at the end of year 5) and thelast payment in 8 years (at the end of year 8). What is the duration of the pension obligation? The current interest rate is 8% per yearfor all maturities.C part only
- Can you explain the meaning of a 20% annual percentage rate (APR) quotedby the credit card company?03.04-PR008 You deposit $10,000 in a fund that pays compound annual interest equal to 3%. One year later the interest rate changes to 4%, 2 years later the interest rate changes to 5%, and 3 years later the interest rate changes to 6%. How much will you have in the fund after 4 years if you withdrew $2,500 at the end of each of the previous 3 years?▼ Cash Flow Present Discounted Value Interest Rate is based on the notion that a dollar paid in the future is less valuable than a dollar paid today. Part 2 The present value of a loan in which $3000 is to be paid out a year from today with the interest rate equal to 3% is $enter your response here. (Round your response to the neareast two decimal place) Part 3 If a loan is paid after two years, and the amount $3000 is to be paid then with a corresponding 1% interest rate, the present value of the loan is $enter your response here. (Round your response to the neareast two decimal place)