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PrettyGirl22

  • 3 years ago

Your company will make quarterly payments of $12,500 on a $250,000 piece of equipment at 8.25% interest. How many years will it take to pay off the loan?

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  1. YungPolo87434
    • 3 years ago
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    idk i need the answer to this problem x<7;7

  2. YungPolo87434
    • 3 years ago
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    what is it

  3. PrettyGirl22
    • 3 years ago
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    what does the question ask you

  4. YungPolo87434
    • 3 years ago
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    \[x <7;7\]

  5. PrettyGirl22
    • 3 years ago
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    i need more details

  6. YungPolo87434
    • 3 years ago
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    tell whether the number in bold solution

  7. YungPolo87434
    • 3 years ago
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    for each inequality,tell whether the number in bold is a solution

  8. YungPolo87434
    • 3 years ago
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    hello

  9. PrettyGirl22
    • 3 years ago
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    i'm not sure go on yahoo and ask

  10. agent0smith
    • 3 years ago
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    I'm assuming the 8.25% interest is compounded yearly...? My initial calculations suggest that the company will never pay off the loan... maybe I've done something wrong.

  11. PrettyGirl22
    • 3 years ago
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    its quarterly payments

  12. agent0smith
    • 3 years ago
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    Yeah, but the 8.25% interest rate, it doesn't say if it's compounded yearly or what. The payments are quarterly, maybe the interest is too? idk, it should tell you.

  13. PrettyGirl22
    • 3 years ago
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    nope thats all the information

  14. agent0smith
    • 3 years ago
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    Have you studied compound interest yet? Maybe it's just simple interest

  15. agent0smith
    • 3 years ago
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    Simple interest makes it way easier to solve

  16. agent0smith
    • 3 years ago
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    And as far as I can tell, using compound interest... the company won't EVER pay off the loan.

  17. PrettyGirl22
    • 3 years ago
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    they will its a problem in excel

  18. PrettyGirl22
    • 3 years ago
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    You want to buy a new motorcycle. The payments will be $244.22 per month for 8 years. The interest rate is 7.35%. What is the asking price of the motorcycle? here is a problem similar

  19. agent0smith
    • 3 years ago
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    Have you studied compound interest? There's a big difference between that and simple interest for these problems.

  20. agent0smith
    • 3 years ago
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    I'm guessing they're simple interest problems

  21. PrettyGirl22
    • 3 years ago
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    yeah but this is for a computer science class

  22. agent0smith
    • 3 years ago
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    Oh, I'm not familiar with computer science, so it looks like I was going at it the wrong way. I looked it up and don't recognize the formulas. This should help, it looks like the same problem as yours: http://answers.yahoo.com/question/index?qid=20121210132233AAtJBAz

  23. agent0smith
    • 3 years ago
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    this looks like it may have the formula you need: http://www.cimaglobal.com/Thought-leadership/Newsletters/Insight-e-magazine/Insight-2011/Insight-January-2011/Spreadsheet-skills-a-debt-to-repay/

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