Sam robinson borrowed $11,000 from a friend and promised to pay the loan in 10 equal annual installments beginning one year from the date of the loan. sam’s friend would like to be reimbursed for the time value of money at a 10% annual rate. what is the annual payment sam must make to pay back his friend? (do not round intermediate calculations. round your final answers to nearest whole dollar amount.)
Answers: 3
![PV of annuity = P*[\frac{(1-(1+r)^{-n})}{ r}]](/tpl/images/0281/8346/25c40.png)
![11,000 = P*[\frac{(1-(1+0.1)^{-10})}{0.1}]](/tpl/images/0281/8346/5b238.png)
Another question on Business
Business, 21.06.2019 15:20
To make a profit while benefiting humanity is an example of a mission statement that what
Answers: 3
Business, 22.06.2019 11:10
Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.
Answers: 1
Business, 22.06.2019 11:30
You've arrived at the pecan shellers conference—your first networking opportunity. naturally, you're feeling nervous, but to avoid seeming insecure or uncertain, you've decided to a. speak a little louder than you would normally. b. talk on your cell phone as you walk around. c. hold an empowered image of yourself in your mind. d. square your shoulders before entering the room.
Answers: 2
You know the right answer?
Sam robinson borrowed $11,000 from a friend and promised to pay the loan in 10 equal annual installm...
Questions
Chemistry, 27.03.2020 00:37
Mathematics, 27.03.2020 00:37
Mathematics, 27.03.2020 00:37
Biology, 27.03.2020 00:38
English, 27.03.2020 00:38
History, 27.03.2020 00:38
