You borrowed $30,000 to finance the education expenses for your senior year of college at the beginning of your senior year. The loan will be paid off over five years and the first installment will be due a year later. The loan carriers an interest rate of 7% per year and is to be repaid in equal annual installments over the next five years. Suppose you want to negotiate with the bank to defer the first loan installment until the end of year 2. (But you still desire to make five equal installments at 7% interest.) If the bank wishes to earn the same profit, what should be the new annual installment

$7,828.869

Explanation:

For computing new annual installment first we have to determine the  equivalent worth of borrowed amount i.e $30,000 which is shown below:

= Borrowed amount × (1 + interest rate)

= $30,000 × (1 + 0.07)

= $30,000  × 1.07

= $32,100

Now the new annual installment is

= Equivalent worth of borrowed amount × (A/P,7%,5%)

= $32,100 × 0.24389

= $7,828.869

Refer to the A/P table for determining the factor

the correct answer would be b, when, queen, calder hall and london.

explanation:

we always capitalize words when a paragraph or sentence is starting, when an important name is used, when a place is being written, or simply when a noun is used, etc. so in this sentence, sentence is starting from 'when', so it will be written in capital letters. secondly, queen is considered to be an important person, so it will also be written in capital letter. next, the name of the town is mentioned, i-e calder hall, which will also be written in capital letters. in the last,   city name is being used, 'london', which will also be written in capital letters. so option b is the most appropriate one.