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- Those materials used in production but which not go into the finished product. Total Direct Cost Indirect material Cost C Total Indirect Cost Direct material CostToday you deposited $10,000 in a savings account paying 7% annual interest. How much should you have at the end of five years?If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?
- Fred takes out a loan for $1300 at an interest rate of 5% for a period of 5 years. Calculate the total amount that Fred must pay back at the end of the loan period. Round your answer to two decimal placesIf you put your $100 into a saving account which earns 5% interest, how long does it take for your money to double?22. You deposited $15,000 in a savings account five years ago. The account has earned 5.25% interest compounded continuously since then. How much money is in the account today?
- What is meant by the balance of payment?Why would a bank lending officer be interested in thecash flow statement of a company that is applying for a loan?You plan to deposit $300 each year into an IRA earning 4% interest annually. How much will you have in your account in 20 years? Your Answer: Answer
- How much should you put into 6% saving account in order to have 100,000 in five years?Write the formula developed for calculating compound interest?James deposited $150 at the beginning of each month for two years into his savings account. For the next four years he did not make any more deposits, leaving the money in the account. The bank charges 4% interest compounded monthly. What will the balance be after 12 years?