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Author Question: Your company has received a 50,000 loan from an industrial finance company. The annual payments are ... (Read 122 times)

@Brianna17

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Your company has received a 50,000 loan from an industrial finance company. The annual
  payments are 6,202.70. If the company is paying 9 percent interest per year, how many loan
  payments must the company make?
 
  A) 13 B) 19 C) 12 D) 15

Question 2

Charlie wants to retire in 15 years, and he wants to have an annuity of 50,000 a year for 20 years
  after retirement. Charlie wants to receive the first annuity payment the day he retires.
 
  Using an
  interest rate of 8, how much must Charlie invest today in order to have his retirement annuity
  (rounded to nearest 10)?
  A) 167,130 B) 256,890 C) 315,240 D) 200,450


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nanny

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@Brianna17

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Reply 2 on: Jul 11, 2018
YES! Correct, THANKS for helping me on my review


dantucker

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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