Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. economics
  3. a company wants to replay a $117,053 debt making $

A company wants to replay a $117,053 debt making $463 quarterly payment for 21 quarters, then...

70.2K

Verified Solution

Question

Economics

A company wants to replay a $117,053 debt making $463 quarterlypayment for 21 quarters, then one final payment. If the interest is14 per year, compounded quarter, how much is the final payment?

Answer & Explanation Solved by verified expert
3.9 Ratings (732 Votes)
The future value of the amount after 21 quarters can becalculated asWhere A is the future value P is the amount borrowed r is therate of interest and n is the number of periodsGiven P    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Two banks in the area offer 30-year, $250,000 mortgages at 5.2 percent and charge a $3,900...

Programming
1.2K views

In Java!! Problem 2 – Compute the sum of the series (19%) The natural logarithm of 2, ln(2),...

Biology
1.2K views

3 2 The diagram below represents the expression of the genetic code in organisms Three...

Physics
1.2K views

1 1 22 The position of a particle moving along x axis given by x...

Calculus
1.2K views

11 12 Sketch the graph of the function and use it to determine the values...

Algebra
1.2K views

1 pts a Identity the leading coefficient Does the parabola open up or down 6...

Algebra
1.2K views

9 Find y when x 18 if y varies directly as x and y 33...

Accounting
1.2K views

Problem 11-22 Special Order Decisions [LO11-4] Polaski Company manufactures and sells...

Accounting
1.2K views

November 26: The shipping cost for the inventory purchase of November 20, was...

Accounting
1.2K views

Toms Wear collected $6,000 in cash sales, recognized depreciation expense of $4,600, received interest of...

Accounting
1.2K views

5) How is the contribution margin calculated when utilizing variable costing? -Sales less variable cost...

Finance
1.2K views

Using CAPM, compute tge intrinsic value of WTC's stock. WTC is expected to pay...