Suppose you borrowed $80,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment?
A. $66,338.29
B. $68,795.27
C. $63,267.08
D. $61,424.35
E. $74,323.46
Answer: D
You might also like to view...
Name the three value disciplines
What will be an ideal response?
Which principle encourages marketers to take “extraordinary care” when selling to vulnerable community members like children, the elderly, the poor, or individuals with mental health challenges?
A. principle of nondeception B. principle of nonmalfeasance C. principle of protecting vulnerable market segments D. principle of distributive justice
The calculation for annual depreciation using the straight-line depreciation method is
A) initial cost / estimated useful life B) depreciable cost / estimated useful life C) depreciable cost estimated useful life D) initial cost estimated useful life
The itemized statement of goods prepared by a vendor listing the customer's name, items sold, sales prices, and terms of the sale is called the:
A. Invoice. B. Purchase requisition. C. Receiving report. D. Purchase order. E. Invoice approval.