Suppose that you want to purchase some land to build a homestead in the future. You can afford payments of $5,000 each year and want to pay the loan back over the next 20 years

Assuming no down payment is required, how much can you borrow if the bank will charge you an annual interest rate of 12%?
A) $100,985.45
B) $48,231.47
C) $37,347.22
D) $160,262.21

Answer: C

Business

You might also like to view...

In addition to operations, which of the following is considered a "line" function?

A. Accounting B. Finance C. LT D. Procurement E. Sales

Business

Within the context of the job characteristics model, the event manager, handling all the plans for the annual executive retreat and attending the retreat and receiving information on its success from the participants, is an example of ________

A) skill variety B) task identity C) autonomy D) task significance

Business