A Sum of $110,000 Is to Be Repaid Over a 9-Year

question 140

Multiple Choice

A sum of $110,000 is to be repaid over a 9-year period through equal installments made at the end of each year. If an interest rate of 11%/year is charged on the unpaid balance and interest calculations are made at the end of each year, determine the size of each installment so that the loan (principal plus interest charges) is amortized at the end of 9 years. Round your answer to the nearest cent. ​

• A) R = $19,889.71
• B) R = $19,808.83
• C) R = $19,866.18
• D) R = $19,828.70

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Definitions:

Geographic Targeting Strategy

A marketing approach that entails selecting market segments based on their geographic location to tailor marketing efforts and products to local preferences or needs.

Differentiated

The strategy of making a product or service stand out from competitors through distinctive qualities or features.

Concentrated

Focusing resources or efforts on a limited area or segment, often to achieve a more significant impact or deeper understanding.

Niche

A specialized segment of the market for a particular kind of product or service.