Your brother has asked you for a loan and has promised to pay you $9,800 at the end of three years. If you normally invest to earn 6.40 percent per year, how much will you be willing to lend to your brother if you view this purely as a financial transaction (i. e., you don't give your brother a special deal) ? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Your brother has asked you for a loan and has promised to pay you $9,800 at the end of three years. If you normally invest to earn 6.40 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Consider the following list of four economies. Which economy began with a level of real income per person in 1960 that was below that of Finland and grew fast enough to catch up with and surpass Finland's real income per person by 2010?
Answers (1)
Jordan Meadows lost his job as an airline pilot and has not been able to find another job as a pilot. Since he is old enough to be eligible for his pension, he decides to retire and devote himself to caring for his elderly parents, According to the
Answers (1)
Which legal form of organization did ben cohen and jerry greenfield choose when they started their business?
Answers (2)
Clay, "a production manager, believes that some of his workers are unhappy with their job, so they are not working as hard as they could be. Which principle should Clay apply"
Answers (1)
Suppose the U. S. House of Representatives is debating a bill to fund construction and maintenance for the nation's highway system. Representative Sandy Shady adds a provision to the bill that would fund a new public art museum in her district.
Answers (1)
New Questions in Business
has sales of $15 million, total assets of $9 million, and total debt of $3.7 million. If the profit margin is 7 percent what is net income? What is ROE? What is ROA?
Answers (1)
The overall variability of a firm's returns depends on the expected return of each individual project, percentage of funds invested in each individual project, and correlation coefficient of returns between the investments.
Answers (1)
Luca writes a daily blog about why people should eat healthy foods and ways to eat healthfully. What are the purposes of his blog? to entertain and advertise to advertise and inform to argue and inform to argue and entertain
Answers (1)
Billy accepted a job at a company that specializes in providing money for short-term retail lending. where did he go to work?
Answers (1)
If using a thermometer that cannot be calibrated by cold or boiling methods, food handlers should check with whom to make sure the thermometer are calibrated correctly?
Answers (1)