Axl will be borrowing $300,000 today to buy a house, and he will pay it back with 20 yearly payments starting one year from today. If the effective annual interest rate is 7%, how much will the first payment be if the annual payments are constant

$28,317.88.

Explanation:

The annual payment, PMT can be determined using a financial calculator as follows :

PV =  $300,000

N = 20

P/YR = 1

R = 7.00 %

FV = $0

PMT = ?

Using a financial calculator, the annual payment, PMT is $28,317.88.

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

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