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08 Feb 2020, 10:09
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Company X: 10,000
Company Y: 80,000
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
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77% (02:29) correct
23%
(02:28)
wrong
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Company X currently owes $200,000 on a business loan. Company Y currently owes $410,000 on a business loan. Both companies repay their loans at a fixed dollar amount per year that includes both interest and principle. If each company repays its loan at its fixed dollar amount per year, in three years the companies will owe the same amount. After three years, Company Y will owe less than Company X until the loans are paid off.
In the table below, identify the fixed dollar annual repayment amounts for each company that together meet the repayment projections given above. Select only one option in each column.
In the table below, identify the fixed dollar annual repayment amounts for each company that together meet the repayment projections given above. Select only one option in each column.
| Company X | Company Y | Repayment amount (dollars per year) |
| 5,000 | ||
| 10,000 | ||
| 25,000 | ||
| 40,000 | ||
| 67,500 | ||
| 80,000 |
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Official Answer
Company X: 10,000
Company Y: 80,000
200000-3*X = 410000-3*Y
So here 70000= Y-X
X= dollar repayment amount per year by x
Y= dollar repayment amount per year by y
X = 10000,Y=80000
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So here 70000= Y-X
X= dollar repayment amount per year by x
Y= dollar repayment amount per year by y
X = 10000,Y=80000
Posted from my mobile device
09 Feb 2020, 17:31
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The concept behind this problem is break even point. The junction point when two parameters starts behaving opposite of how they were behaving earlier.
