In Problems solver 65 - 68 , use graphical approximation techniques or an equation solver to approximate the desired interest rate. Express each answer as a percentage, correct to two decimal places. The owner of a small business has received two offers of purchase. The first prospective buyer offers to pay the owner $100,000 in cash now. The second offers to pay the owner $10,000 now and monthly payments of $1,200 for 10 years. In effect, the second buyer is asking the owner for a $90,000 loan. If the owner accepts the second offer, what annual nominal compounding rate will the owner receive for financing this purchase?
In Problems solver 65 - 68 , use graphical approximation techniques or an equation solver to approximate the desired interest rate. Express each answer as a percentage, correct to two decimal places. The owner of a small business has received two offers of purchase. The first prospective buyer offers to pay the owner $100,000 in cash now. The second offers to pay the owner $10,000 now and monthly payments of $1,200 for 10 years. In effect, the second buyer is asking the owner for a $90,000 loan. If the owner accepts the second offer, what annual nominal compounding rate will the owner receive for financing this purchase?
Solution Summary: The author calculates the annual nominal compounding rate the owner receives for financing the purchase of the second offeror.
In Problems solver
65
-
68
, use graphical approximation techniques or an equation solver to approximate the desired interest rate. Express each answer as a percentage, correct to two decimal places.
The owner of a small business has received two offers of purchase. The first prospective buyer offers to pay the owner
$100,000
in cash now. The second offers to pay the owner
$10,000
now and monthly payments of
$1,200
for
10
years. In effect, the second buyer is asking the owner for a
$90,000
loan. If the owner accepts the second offer, what annual nominal compounding rate will the owner receive for financing this purchase?
10
5
Obtain by multiplying matrices the composite coordinate transformation of two transformations, first
x' = (x + y√√2+2)/2
y' =
z'
(x√√2-2√2)/2
z = (-x+y√√2-2)/2
followed by
x"
=
(x'√√2+z'√√2)/2
y" = (-x'y'√√2+2')/2
z" = (x'y'√√2-2')/2.
Not use ai please
4
The plane 2x+3y+ 6z = 6 intersects the coordinate axes at P, Q, and R, forming a triangle. Draw a
figure and identify the three points on it. Also find vectors PQ and PR. Write a vector formula for the area of the
triangle PQR and find its value.
Chapter 3 Solutions
Finite Mathematics for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
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