What amount will proprietors of inn be required to pay bank

Assignment Help Mathematics
Reference no: EM131556324

Question: LOAN CONSOLIDATION The proprietors of The Coachmen Inn secured two loans from Union Bank: one for $8000 due in 3 yr and one for $15,000 due in 6 yr, both at an interest rate of 10%/year compounded semiannually. The bank has agreed to allow the two loans to be consolidated into one loan payable in 5 yr at the same interest rate. What amount will the proprietors of the inn be required to pay the bank at the end of 5 yr?

Reference no: EM131556324

Questions Cloud

How much should juan pay for the bond : ZERO COUPON BONDS Juan is contemplating buying a zero coupon bond that matures in 10 yr and has a face value of $10,000.
How many additional years could you withdraw funds : If you could earn 8 percent, how many additional years could you withdraw funds?
Explain why the change has taken place : Write the essay in which you contrast your earlier attitude with the attitude you hold now. Explain why the change has taken place
Does the stock price indicate any dangers the bank may face : Does the stock price indicate any dangers the bank may face? If so what strategies could offset those dangers, and which should the bank adopt?
What amount will proprietors of inn be required to pay bank : LOAN CONSOLIDATION The proprietors of The Coachmen Inn secured two loans from Union Bank: one for $8000 due in 3 yr and one for $15,000 due in 6 yr.
How much more could you withdraw each year : If you could earn 8 percent, how much more could you withdraw each year?
Describe the role the zealots played in the jewish revolt : Describe the role the Zealots played in the Jewish revolt in Rome. What happened to the Jewish state and religion as a result of the revolt
Which bank offers a better rate of interest : RATE COMPARISONS Fleet Street Savings Bank pays interest at the rate of 4.25%/year compounded weekly in a savings account, whereas Washington Bank pays.
Discuss the strengths and weaknesses of the king james bible : Discuss the strengths and weaknesses of the King James Bible (Authorized Version) for the modern reader

Reviews

Write a Review

Mathematics Questions & Answers

  Determine the volume of water in the fish tank in cubic feet

A fish tank is 1 yd long, 1.5 ft high, and 15 in wide. Determine the volume of water in the fish tank in cubic feet.Determine the weight of the water in pounds. One cubic foot of water weighs about 62.5 pounds.

  Solid mensuration an isosceles trapezoid has an area of

an isosceles trapezoid has an area of 40meter sq. and an altitude of 2m its 2 bases have ratio of 23 what are the

  Define your variables under the variable view

Write an APA-style Results section based on your analyses. All homework "Results sections" should follow the example given in the SPSS tutorials and the Course Content document "Writing Results of Statistical Tests in APA Format" (note: you do not..

  A chemist needs to mix a 75% saltwater solution

A chemist needs to mix a 75% saltwater solution with a 50% saltwater solution to obtain 10 gallons of a 60% saltwater solution.

  Find the demands x for the prices

the demand x for a hand-held electonic organizer is given by p = 5000(1-4/4+e^-0.002x) where p is the price in dollars. Find the demands x for the prices of (a)p=$600 and (b) p = $400

  Critical point-find maximum value

A manufacturer produces cardboard boxes that are open at the top and sealed at the base. The base is rectangular and its length is double its width.

  Suppose a ferris wheel with radius of 12 meters is rotating

suppose a ferris wheel with radius of 12 meters is rotating at a rate of 2 rotations per minute.a. how fast is a person

  Graphical representation showing trend and fitted model

Use the Decomposition facility under stat menu to obtain seasonal variations, trend and deseasonalised using an additive model - Produce and comment the graphical representation showing trend and fitted model.

  Explain the ramifications of various differences in the cost

Explain the ramifications of various differences in the costs of materials, i.e. what happens to the dimensions of the box. You might want to deal with certain cases.

  Find the resultant velocity representing

An airplane has an airspeed of 590km/h bearing 50 degrees° north of east. The wind velocity is 80km/h in the direction 28 degrees° north of west. Find the resultant velocity representing the path of the airplane with respect to the ground.

  Use differentials to estimate the maximum error

The radius of a circular disk is given as 19 cm with a maximum error in measurement of 0.2 cm.

  Common factor for the coefficients

The student factored 14x^5y^2+7xy as 7xy(2^4y) what went wrong? Factor correctly select the correct choice below and if necessary, fill in the answer box to complete your choice. A. The common factor for the coefficients, 7, is not correct. the cor..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd