You take out a $10,000 loan with a 5 percent annual interest rate. You plan to pay $1,005
dollars each year over 10 years. After a decade, where will you be in relation to the loan?
(Hint: assume simple interest.)
A. It will be completely paid off.
B. You will still owe $5,000 on the loan.
C. You will have overpaid by $50.
D. You will still owe $4,500 on the loan.
Answers: 3
Another question on Business
Business, 22.06.2019 00:30
Find the interest rate for a $4000 deposit accumulating to $5234.58, compounded quarterly for 9 years
Answers: 1
Business, 22.06.2019 07:30
Which of the following best describes why you need to establish goals for your program?
Answers: 3
Business, 22.06.2019 08:00
Interest is credited to a fixed annuity no lower than the variable contract rate contract guaranteed rate current rate of inflation prime rate
Answers: 2
Business, 22.06.2019 08:10
What are the period and vertical shift of the cosecant function below? period: ; vertical shift: 1 unit up period: ; vertical shift: 2 units up period: ; vertical shift: 1 unit up period: ; vertical shift: 2 units up?
Answers: 3
You know the right answer?
You take out a $10,000 loan with a 5 percent annual interest rate. You plan to pay $1,005
dollars e...
Questions
Mathematics, 08.11.2020 20:40
Mathematics, 08.11.2020 20:40
Mathematics, 08.11.2020 20:40
Mathematics, 08.11.2020 20:40
English, 08.11.2020 20:40
English, 08.11.2020 20:40
Mathematics, 08.11.2020 20:40
Mathematics, 08.11.2020 20:40
Mathematics, 08.11.2020 20:40
