Assume a five-year equal payment amortization schedule with an annual interest rate of 12% and annual payments. If the beginning principal is $8,000, then the first interest payment will be how large?

A) $960.00
B) $1,200.00
C) $2,219.28
D) There is not enough information to answer this question.


Answer: A
Explanation: A) The first payment will be equal to the beginning balance times the annual interest rate = $8,000 × .12 = $960.00.

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Marcus Jones wants to invest $10,000 on January 1, 2014, so that he may withdraw 10 annual payments of equal amounts beginning January 1, 2029. If the fund earns 10% annual interest over its life, what will be the amount of each of the withdrawals?

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In the context of Mintzberg's organizational structures, the professional bureaucracy achieves coordination through:

A. direct supervision of professionals. B. selective decentralization of professional teams. C. the standardization of professionals' skills. D. the standardization of professionals' work processes.

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The following information is provided by Bethel Company:

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Answer the following statement true (T) or false (F)

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