Answer:
<em>n = 33.8108479</em>
Explanation:
We will calculate the current principal
And then calculate the time period it takes with a higher payment of 675 dollars per month:
C $ 500
time 48 ( 4 years x 12 months per year)
rate 0.0075 (9% annual divide by 12 months)
PV $20,092.3909
Now we recalculate n:
C $675.00
time n
rate 0.0075
PV $20,092.3900
<u>from the annuity formula we solve as we can until arrive at this situation:</u>
<u>We use logarithmics properties to solve for n:</u>
<em>n = 33.8108479</em>
Answer:
Reducing principal at a faster pace increases the overall interest paid on a loan.
Explanation:
When a loan is being repaid a repayment schedule is used. Repayment schedule contains proportion of principal and interest to be paid by the borrower.
In a scenario where principal to be paid reduces at a faster rate, the interest must also reduce. Interest is a function of the principal. The higher the remaining principal the higher interest rate and vice versa.
So the statement - Reducing principal at a faster pace increases the overall interest paid on a loan, is false. Rather interest to be paid will reduce.
Answer:
The correct answer is: 36 months or 3 years.
Explanation:
The Department of Treasury Circular 230 establishes the regulations for all those professionals who represent individuals before the Internal Revenue Service (<em>IRS</em>) such as <em>lawyers </em>and <em>accountants</em>. In section 10.29 there is a retention requirement in front of conflict of interest that implies waivers or consents to be retained by the tax professional for <em>3 years post-representation</em> and made available to the IRS if requested.
Orson has probably committed the tort of conversion unless he can show that <u>"Harrison does not really own the car."</u>
Conversion is an intentional tort comprising of taking with the goal of practicing over the property a proprietorship conflicting with the genuine proprietor's privilege of possession". In the United Kingdom, it is a tort of strict liability. Its counterparts in criminal law incorporate robbery or burglary and criminal change. In those wards that remember it, criminal transformation is a lesser wrongdoing than burglary/theft.
Answer:
0.4
Explanation:
This problem has been solved using the method of integration.
We are required to solve for the probability that it takes Robby between 29 and 39 minutes to go grocery shopping
= X~U(20,45)
= 1/45-20
= 1/25
Then we get computation for p[29<x<39]
When we take the integrals with x = 1/25
We get
Probability that it takes Robby between 29 and 39 minutes to go shopping to be 0.4
