The total amount of interest paid by Niki is $39,695.48.
The loan is termed as the amount that is borrowed by the lender and is paid off back at some defined amount of interest.
Computation of amount of interest to be paid by Niki:
The given information is:
P is the periodic payment.
PV = $61,600
r = 0.0984
t = 6
n = 11 years
[tex]\begin{aligned}PV = \frac{P(1 - (1 +\frac{r}{t}^{nt}))}{\frac{r}{t}}\end{aligned}[/tex]
[tex]\begin{aligned}61600 =\frac{P(1 - (1 +\frac{0.0984}{6}^{11\times6})}{\frac{0.0984}{6}}\end{aligned}[/tex]
[tex]\begin{aligned}61600 =\frac{P(1 - (1 + 0.0164)^{66} )}{ 0.0164}\end{aligned}[/tex]
[tex]61600\times0.0164 = P(1 - (1.0164)^{66} )[/tex]
[tex]\begin{aligned}1010.24&=p\times(1-0.341769)\\1010.24&=0.658321\times p\\p&=\frac{1010.24}{0.658321}\\p&=1534.78\end{aligned}[/tex]
Niki pays $1534.78 every two months continuously for eleven years.
[tex]\begin{aligned}\text{The total payment made by Niki} &= \text{Tenure Period} \times 6 \times \text{Amount of interest}\\\text{The total payment made by Niki}&=11\times6\times\$1534.78\\\text{The total payment made by Niki}&= \$101295.48\end{aligned}[/tex]
[tex]\text{Interest paid} = \text{Total Payment} - PV\\\text{Interest paid} = 101295.48-61600\\\text{Interest paid} =\$39,695.48[/tex]
Therefore, the correct option is A.
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How do the different auto loan factors impact monthly payments?
Please solve this question asap…as i have less time
Answer:
1 Cash to Capital
2 Bank to Cash
4 Purchase to Cash
5 Purchase to Cash
8 A/c receivable to Sales
10 A/c Payable to Cash
15 Cash dr(11700) Sales Discount dr (300) A/c receivable Cr(12000)
16 Wages Payable to Cash
18 Furniture to Cash
20 Drawing to Bank
22 Rent Payable to Bank
23 Drawing to Goods
24 Drawing to Bank
26 Cash to Commission received
27 Bank Charges Payable to Bank
28 Insurance Payable to Bank
29 Salary Expense/ Salary Payable (I forgot) to Cash
30 Cash to Sales
Michael has been saving his money and wants to invest it. After doing some research, he has decided to invest $20,000 into a Certificate of Deposit. The interest rate on the CD is 3% with a term of five years, and the interest is paid out annually. Based on recent inflation, Michael is planning on an annual inflation rate of 2%. Which statement best explains the interest rates related to this CD? The nominal interest rate is 3 percent, while the real interest rate is 2 percent. The nominal interest rate is 3 percent, while the real interest rate is 1 percent. The nominal interest rate is 1 percent, while the real interest rate is 2 percent. The nominal interest rate is 2 percent, while the real interest rate is 4 percent.
Since he is planning on an annual inflation rate of 2%., the statement that explains the interest rates relating to the CD is nominal interest rate is 3% while the real interest rate is 1%.
A real interest rate refers to the nominal rate which is adjusted for inflation.
We are given that Interest (nominal rate) is 3% and planned Inflation rate = 2%Real interest rate = 1% (Nominal rate - inflation rate)
Hence, the statement that explains the interest rates relating to the CD is nominal interest rate is 3% while the real interest rate is 1%.
Therefore, the Option B is correct.
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Answer: the next one after b is A on the assignment
$200
Explanation:
Consider Australian football, cricket, and field hockey. Of the three, list which of those sports you find the most interesting, why it interests you, and a few rules of the game.
Answer:
Basic Rules Of Cricket
Cricket is played between two teams each made up of eleven players. ...
Games comprise of at least one innings where each team will take turns in batting and fielding/bowling.
The fielding team will have a bowler bowl the ball to the batsman who tries to hit the ball with their bat.
Explanation:
hope this helps
Sample Response: Students should select one of the listed sports and be able to describe some unique features of the sport highlighted in the test. Their interest in the sport can be pretty much anything including their relative obscurity in the US mainstream, past experience playing with family, or because they seem uniquely challenging.
Describe Globalization in your own words
Answer:
Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. It can also mean the speedup of movements and exchanges all over the planet. It is important because it changes the way nations, businesses and people interact.
Hope that helped?
Explanation:
WHAT IS THE WORLDS LARGEST PEANUT 50 points
Answer:
I AM THE LARGEST PEANUT
Explanation:
Answer:
Unveiled with fanfare on a chilly Friday, Nov. 15, 1974, it's 3 feet long and 18 inches around, crafted of 50 pounds of aluminum and dedicated to the Bryan County Peanut Growers and Processors
What are levels of production?
Amount of goods produced
Primary production
Producing at the Secondary level
Tertiary Production
Answer:
first one
Explanation:
Answer:
first one
Brainless and thanks plz
Explanation:
What was one result of the Bretton Woods system?
A. The U.S. dollar became backed by gold for the first time.
B. The U.S. dollar was no longer accepted in most countries.
C. The U.S. dollar became more valuable and influential.
D. The U.S. dollar lost its status as the world's reserve currency.
One of the results of the Bretton woods system was that the U.S dollar became more valuable and influential.
What is Currency?Currency is a medium for exchange for goods and services. It is a form of legal tender approved by the government and accepted by all as a means of exchange.
The U.S dollar is a popular form of currency that is accepted by most countries as a form of exchange. After the Bretton Woods system was adopted, the U.S dollar became more influential and valuable to many.
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The Bridal Shop bought a dress from a supplier for $105 wholesale and applied a 65% markup to the price. If a 7. 5% sales tax were added after a 20% discount was used, what would be the total cost to purchase the dress?.
Based on the various additions as well as discount, the total cost of the dress would be $149.00
The cost of the dress after the markup would be:
= Wholesale cost x ( 1 + markup)
= 105 x (1 + 65%)
= 105 x 1.65
= $173.25
After the discount, the cost is:
= 173.25 x (1 - 20%)
= $138.60
The cost after the sales tax is:
= 138.60 x (1 + 7.5%)
= $148.995
= $149.00
In conclusion, the cost of the dress is $149.00
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Traditional direct marketing tools include ________.
A. websites, catalog marketing, telemarketing, e-mail, kiosks, and online videos
B. catalog marketing, telemarketing, websites, e-mail, direct mail marketing, and online advertising
C. catalog marketing, telemarketing, websites, e-mail, online videos, and blogs
D. face-to-face selling, direct-mail marketing, catalog marketing, telemarketing, direct-response televisionmarketing, and kiosk marketing
E. catalog marketing, online advertising, e-mail, telemarketing, direct-response television marketing, and websites
Answer:
Face to face selling, direct-mail marketing, catalog marketing, telemarketing, direct-response television marketing, and kiosk marketing. or in other words your option is D
Explanation:
The table shows the terms of a fixed-rate mortgage. A 2-column table has 4 rows. The first column is labeled Component with entries (P) Principal, (R) Monthly interest rate, (n) Total number of monthly payments (30-year term), (M) Monthly payment. The second column is labeled Cost with entries 200,000 dollars, 0. 4 percent, 350, 1059 dollars and 85 cents. Which formula should be used to correctly calculate the monthly mortgage payment? M = P StartFraction Left-bracket R (1 minus R) Superscript n Baseline Right-bracket Over (1 R) Superscript n Baseline EndFraction M = P StartFraction Left-bracket R (1 R) Superscript n Baseline Right-Bracket Over Left-bracket (1 R) Superscript n Baseline minus 1 Right-bracket EndFraction M = P StartFraction R Over left-bracket (1 R) Superscript n Baseline minus 1 Right-bracket EndFraction M = P StartFraction Left-bracket R (1 R) Superscript n Baseline Right-Bracket Over (N R) EndFraction.
The monthly mortgage payment M is determined by taking into consideration the total amount of mortgage, the time period for the mortgage, and the rate of interest charged over the entire principal amount.
The formula to be used for the calculation of the monthly mortgage payment is:
[tex]M=P\dfrac{[R(1+R)^n]}{[(1+R)^n-1]}[/tex]
Where,
[tex]P[/tex] = Principal amount of $200,000
[tex]R[/tex] = Rate of interest of 0.4% per month
[tex]n[/tex] = number of mortgage payments that is 30 years
[tex]M[/tex] = Monthly payments
Thus, based upon the chosen formula the mortgage payment for each month will be determined that will be inclusive of the principal amount and the interest amount at the rate of 0.4% at the beginning or end of each month.
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Answer:
B. [tex]M=P\frac{[R(1+R^{n})]}{[(1+R)^{n}-1 ]}[/tex]
Explanation:
Correct on edg quiz 2022
Besides pricing and issues directly related to costs, what are at least two other considerations you would need to think about before marketing a product in multiple countries?
Imagine you are a board game creator with a great new idea, but little business experience. What are some of the benefits you could get out of going to a board game conference or convention?
Craft a short (three or four sentence) sales pitch with you as the product—that is, some service you offer, or maybe selling yourself as an employee. To help create the message, imagine you happened to be entering an elevator the same time as the potential customer/client/employer. What could you say in the short time it takes to go between a few floors to convince them to “buy” what you are offering?
You are opening a store that sells children’s hiking gear, aimed especially at very small children (preschoolers). What kind of brand could help you increase sales? What kind of logo might you use? Who is, ultimately, your target audience?
60 IF you answer these questions ASAP
EXPLAIN YOUR ANSWERS
Answer:
Publicity, connections, promotion, tips, advice, business partners, investors, Offers.
Explanation:
Conventions and conferences for anything are always meant for meeting others like you. They are created for social connection.
Two considerations to think about before marketing a product in multiple countries are cultural differences and language barriers.
What is marketing?Marketing is the process of discovering, creating, and delivering value to a target market in the form of goods and services.
Cultural differences and language barriers are two factors to consider before marketing a product in multiple countries.
Different cultures have different values, customs, and preferences, which can influence how products are perceived and used.
Attending a board game conference or convention could provide several advantages as a board game creator with little business experience.
These events allow you to network with other game designers, publishers, and distributors while also showcasing your game to potential customers.
A brand that promotes outdoor exploration and adventure for young children could help increase sales for a store that sells children's hiking gear aimed at preschoolers.
Thus, this can be concluded regarding the given scenario.
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Nezzie invests in 300 shares of stock in the fund shown below. Name of Fund NAV Offer Price LKIT Mid-Cap $16. 58 $16. 99 Nezzie plans to sell all of her shares when she can profit $5,000. What must the net asset value be in order for Nezzie to sell? a. $16. 67 b. $33. 25 c. $33. 57 d. $33. 66.
The correct amount of net asset value is $33. 66. Net asset value is termed as the value of the asset after the evaluation of the company's profit and evaluating the paid-off debt of the firm.
Computation of the total net value:
[tex]\begin{aligned}\text{The Total Net Value}&=(\text{ Number of shares} \times \text{Offer price}) + \text{profit}\\\text{The Total Net Value}&= 300 \:\rm shares \times \$16.99 + \$5000\\\text{The Total Net Value}&=\$10,097\end{aligned}[/tex]
The computation of the net asset value is:
[tex]\begin{aligned} \text{The Net Asset Value}&=\dfrac{\text{ Total Net Value}}{\text{Total Outstanding Shares}} \\\text{The Net Asset Value}&= \frac{\$10097}{300\:\rm shares} \\ \text{The Net Asset Value}&= \$33.66\end{aligned}[/tex]
Therefore, the correct option is D.
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an example of a digital buyer who is engaged in product-focused shopping is someone who
Answer:
repurchased toothpaste from Amazon
Explanation:
Which option identifies the type of budget development represented in the following scenario?
The Board of Directors of a large cereal manufacturer mandates a 6 percent increase in profits for 2015 and requests operating budgets from each department.
bottom-up approach
top-down approach
incremental method
zero-based method
Answer:top approach
Explanation:
Peter has three daughters who are eligible students. What is the maximum amount of tax credit available to him under the American opportunity credit, assuming he meets all requirements
Based on current tax laws, the maximum amount of tax credit available to Peter is $7,500
Under the American Opportunity Tax Credit (AOTC):
Tax credit can be earned on eligible students. A maximum of $2,500 can be received as tax credit per student.Peter has three daughters and they are all eligible students which means that the maximum credit available is:
= 2,500 x 3 students
= $7,500
In conclusion, Peter can get $7,500 in tax credit.
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Question 6 of 40
What kind of account requires you to leave your money in it for a specific amount of time?
A. Checking account
B. Stock market account
C. Savings account
D. Money market account
Answer:
money market account
Explanation:
How to solve problems in group work
Answer: Solve problems as a group by working together and problem solving, as well as listening to all ideas.
[tex]\large\huge\green{\sf{Answer:-}}[/tex]
just classify the task between groups and task will be easy to doas a general rule what percentage of debt to gdp
Answer:
There is no general rule.
Explanation:
Treasury yield is the return on investment, expressed as a percentage, on the U.S. government's debt obligations. Looked at another way, the Treasury yield is the effective interest rate that the U.S. government pays to borrow money for different lengths of time.
you are the owner of a rapidly growing e-commerce business and you are looking for ways to customize your ads. since your team is extremely busy, you want to find an external solution to keep your ads updated and relevant. in order to accomplish this goal, you may consider purchasing _______.
Ecommerce firms, which are those that send goods, services, and funds over the internet, range in size and breadth from retail behemoths to small businesses.
What is Automation Software?Automation software is a type of program that reduces the need for human intervention and may be employed in practically any sector. Automation software, at its most basic, is intended to convert recurring, routine operations into automated actions.
Thus Purchasing subscription of automation software will be correct answer.
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Jack has become a franchise of sonic and his local community this as enable him to have access to blank in order to sell the product
Answer:
the knowledge, processes, and trademarks of Sonic
Explanation:
match each hypothetical country’s aging structure to its most likely economic situation.
It should be noted that the aging structure data is important as it allows the rate of growth to be associated with the population in a country.
Your information is incomplete. Therefore, an overview of the topic will be given. There are typically three age structures which are:
The children who are under 15 years old.The working-age who are between 15 - 64 years.The elderly ones who are 65 years and older.It should be noted that an aging population lower the labor-force participation and slows down economic development in the country.
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4. what influence may rising house prices have on inflation?
Answer:
Explanation:
There is a correlation between inflation and house prices. ... When interest rates are low, buying homes can be more affordable and increase the demand for homes. If the supply of homes remains constant and the demand increases, then the prices of homes will increase.
Susan would like to work on a class project alone, but her teacher asked the class to work in groups. How will Susan benefit from working with a team?
Independence
Increased creativity
Easy class credit
Easy decision making
Answer:
Easy decision making
Explanation:
Independence would not be it because Susan is in a group and the other two wouldn't be true because easy class credit would mean letting the rest of the group do the work, and increased creativity wouldn't be it because there would be other part of the group would be doing that two.
RESPA (Real Estate Settlement Procedures Act) permits real estate firms to be affiliated with title insurance companies or mortgage brokers as long as
The RESP Act permits the real estate firms to be affiliated with title insurance companies or mortgage brokers as long as the companies make a written disclosure of their relationship with one another.
The Real Estate Settlement Procedures Act requires the lenders, mortgage brokers providing home loans to provide to borrowers, a pertinent and timely disclosures regarding the nature and costs of the real estate settlement process.
In conclusion, the Act of RESP permits the real estate firms to be affiliated with title insurance companies or mortgage brokers as long as the companies make a written disclosure of their relationship with one another.
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how is the domain rank different from other ranks?
In relation to ranks, the word "domain rank" is not well-known or standardized. You can be referring to a particular idea or measure regarding Website positioning or search engine optimization (SEO).
One search engine optimization (SEO) idea developed to gauge the effectiveness of a particular campaign is website authority or domain rank. Domain rating is a ranking indicator developed by Ahhrefs and used to show how strong a website's backlink profile is in comparison to other websites in their database.
Developed by Moz, the Domain Authority (DA) score for search engine rankings indicates how likely it is for a website to appear in search engine result pages (SERPs).
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what is the name of the department store where buddy works in elf?
Answer:
The name of the department store where buddy works in elf is called Gimbels.
a manager should store canned soup that has been recalled in a
It should be noted that the manager should store canned soup in a separate area until it can be returned to the distributors for credit.
It should be noted that it's the function of a company to always provide good products to their customers.
In this case, since the goods have been recalled as a result of defect it any other issues, it should be stored in a separate area until it can be returned to the distributors for credit.
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what are the three most common reasons firms fail financially?
The common ways through which firms fail financially includes under-capitalization, poor control over cash flow and inadequate expense control.
Majority of firms who failed financially are those firm with outdated financial plan or lack of current trend in the industry.
Why firms fail financially includes:
Under-capitalization which is when the firm does not have sufficient capital to conduct normal business operations and pay the creditors.Poor control over cash flow is when the firm does not have firm control over the cash going in and out of the organization.inadequate expense control is when the firm does not effectively control the amount of expenses incurred for operation.
In conclusion, the common ways through which firms fail financially includes under-capitalization, poor control over cash flow and inadequate expense control.
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Is Mark Zuckerburg a robot? cuz he sure looks like one
Answer:
he is lol
Explanation:
Answer:
hell yea i agree the dude's hella sus