How much does beth need to borrow to purchase the yacht

Assignment Help Financial Econometrics

Reference no: EM13328480

On December 31, Beth Klemkosky bought a yacht for $110,000 and paid $14,000 down and agreed to pay the balalnce in 9 equal annual installments that include both the principal and 8 percent interest on the declining balance. How big will the annual payments be? how much does she need to borrow to purchase the yacht?

Reference no: EM13328480

Questions Cloud

Calculate the effective interest rate : Calculate the discount rate used by the lender and calculate the effective interest rate (APR) on the loan - Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified?

What is the magnitude of the impulse received by the ball : A baseball pitcher delivers a fastball that crosses the plate with an angle of 5.77 degrees relative to the horizontal and a speed of 87.9 mph. What is the magnitude of the impulse received by the ball

Specify modifications that implemented to it infrastructure : Identify any modifications that should be implemented to the IT infrastructure in order to accommodate the requirements of the EHR.

Calculate the discount rate used by the lender : Calculate the discount rate used by the lender and calculate the effective interest rate (APR) on the loan and use the horizontal model (or write the journal entry) to show the effects

How much does beth need to borrow to purchase the yacht : On December 31, Beth Klemkosky bought a yacht for $110,000 and paid $14,000 down and agreed to pay the balalnce in 9 equal annual installments that include both the principal and 8 percent interest on the declining balance.

Find how long will alex take for him to pay off the loan : Alex Karev has taken out a $180,000 loan with an annual rate of 8 percent compounded monthly to pay off hospital bills from his wife Izzy's illness. If the most Alex can afford to pay is $3,500 per month,

Explain the life cycle of an information systems : Imagine that you run a photography printing store. Your employees have been using punch cards for time entry since you started the business.

How many years will it be before the inheritance grows : You are hoping to buy a house in the future and recently received an inheritance of $22,000.00. You intend to use your inheritance as a down payment on you house.

Develop an internet strategy : Prepare functional specifications for the company's use of the Web and the Internet. Include links to and from other sites in your design.

User Account

All Pages