How much will you owe after two years

Assignment Help Mathematics

Reference no: EM131012754

A loan shark lends you $80 at 2% compound interest per week (this is a weekly, not an annual rate). (Round your answers to the nearest dollar.) (a) How much will you owe after 2 years? (Use 52 weeks per year.)

(b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig." Find the shark's vig.

Reference no: EM131012754

Questions Cloud

Which are fees charged by the lender : Home loans typically involve “points,” which are fees charged by the lender. Each point charged means that the borrower must pay 1% of the loan amount as a fee. For example, if the loan is for $180,000 and 2 points are charged, the loan repayment sch..

Vision has recently deteriorated : Assume your vision has recently deteriorated. You are considering tow alternatives. The first option is to wear contact lenses. You estimate that your annual contact lens cost will be $300 paid at the end of the year. The second option is to undergo ..

The percentage change in the price of these bonds : Both Bond Bill and Bond Ted have 11 percent coupons, make semiannual payments, and are priced at par value. Bond Bill has 3 years to maturity, whereas Bond Ted has 20 years to maturity. If interest rates suddenly rise by 2 percent, what is the percen..

Determine the value of the weight q of the block on right : If P=11lb and W=155lb how do i find the weight Q of the right block? Thanks 4b. Determine the value of the weight Q of the block on the right. Pulley C and pulley D each weigh an amount P, and the weight of the block on the left is W. The pulleys ..

How much will you owe after two years : A loan shark lends you $80 at 2% compound interest per week (this is a weekly, not an annual rate). (Round your answers to the nearest dollar.) (a) How much will you owe after 2 years?

Use relevant examples : Using an example of a top Brand Licensing company like 'Bradford Licensing' compose an article on business licensing. Use relevant examples and cit your work.

What is the current market price of this bond : A corporate bond, paying $65 interest at the end of each year for 6 years, has a face value of $1,000. If market rates on newly issued similarly rated corporate bonds are now 7.5%, what is the current market price of this bond?

The cash flows in an expansion project are different : The cash flows in an expansion project are different from those in a replacement project. In an expansion project, the cash flows from the old asset

Discuss the major contents of the fund financial statements : Discuss the major contents of the fund financial statements and government wide financial statements. Address why those statements are necessary in the government annual report.

User Account

All Pages