ComputerScienceExpert

(11)

$18/per page/

About ComputerScienceExpert

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Applied Sciences,Calculus See all
Applied Sciences,Calculus,Chemistry,Computer Science,Environmental science,Information Systems,Science Hide all
Teaching Since: Apr 2017
Last Sign in: 103 Weeks Ago, 3 Days Ago
Questions Answered: 4870
Tutorials Posted: 4863

Education

  • MBA IT, Mater in Science and Technology
    Devry
    Jul-1996 - Jul-2000

Experience

  • Professor
    Devry University
    Mar-2010 - Oct-2016

Category > Math Posted 22 Apr 2017 My Price 8.00

borrow money at a rate of r

To borrow money at a rate of r, which loan plan should be chosen - one compounding 4 times a year or 12 times a year? see attached for my answer, please let me know what is wrong? Thanks

 

 
3. To borrow money at a rate of r, which loan plan should be chosen – one compounding 4 time a year or
12 times a year?
I chose to input numbers to prove this. A $1000.00 loan for one year at 1% interest. r
1+ ¿nt
n
A=P ¿
Compounded 4 times per year .01 4∗1
¿
4
A=1000 ¿ Compounded 12 times per year .01 12∗1
¿
12
A=1000 ¿ 1+ 1+ 1.0025 ¿4
A=1000 ¿ 1.000833333 …¿ 12
A=1000 ¿ A=1000 (1.01003756) A=1000 (1.01004596088) A=1010.0375625 A=1010.04596 A=$ 1010.04 A=$ 1010.05 $ 1010.05−$ 1010.04=$ .01
$.01 would be your profit, or more specifically how much less you would pay for the loan when
compounded quarterly vs. monthly.

Attachments:

Answers

ComputerScienceExpert
(11)
Status NEW Posted 22 Apr 2017 08:04 AM My Price 8.00

-----------

Attachments

file 1492848666-Solutions file 2.docx preview (51 words )
H-----------ell-----------o S-----------ir/-----------Mad-----------am ----------- Th-----------ank----------- yo-----------u f-----------or -----------you-----------r i-----------nte-----------res-----------t a-----------nd -----------buy-----------ing----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n. -----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be----------- qu-----------ick-----------ly -----------onl-----------ine----------- an-----------d g-----------ive----------- yo-----------u e-----------xac-----------t f-----------ile----------- an-----------d t-----------he -----------sam-----------e f-----------ile----------- is----------- al-----------so -----------sen-----------t t-----------o y-----------our----------- em-----------ail----------- th-----------at -----------is -----------reg-----------ist-----------ere-----------d o-----------n -----------THI-----------S W-----------EBS-----------ITE-----------. ----------- Th-----------ank----------- yo-----------u -----------
Not Rated(0)