User Account

All Pages

How much interest would billy have to pay

Assignment Help Finance Basics
Reference no: EM131190138

Billy Thornton borrowed $20,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses a 360-day year. How much interest would Billy have to pay in a 30-day month?

a. $120.83

b. $126.88

c. $133.22

d. $139.88

e. $146.87

Reference no: EM131190138

Questions Cloud

Discuss main characteristics of defined contribution plans : Discuss the main characteristics of defined contribution plans and defined benefit plans. How do these differ from a cash balance plan, and does the employee or employer bear the risk of poor investment performance inside each of these types of plans..
Determine the reactions at a and b : The rectangular plate shown weighs 75 lb and is held in the position shown by hinges at A and B and by cable EF. Assuming that the hinge at B does not exert any axial thrust,
Can taxpayer use the exclusion for the sale of residence : Taxpayer a college professor age 58 purchased and moved into a house on August 1, 2012. He used the house continuously until 9/1/2013 on which date he went abroad for a one year sabbatical leave. During part of the period of leave, te property was un..
Determine the changes that should take place : Having curried out the study, the scores will get monitored for evaluations. Evaluations will involve analyzing the patient's satisfactions and dissatisfactions and determine the changes that should take place, where and when and what amount of mo..
How much interest would billy have to pay : Billy Thornton borrowed $20,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses a 360-day year. How much interest would Billy have to pay in a 30-day month?
Reduce the working capital at the beginning of the project : Assume that you're able to reduce the working capital at the beginning of the project, and that the NWC will revert back to normal at the end of the project. If all other given information stays the same, what is the NPV of this project?
Assuming straight-line depreciation to zero : Evaluate the project given the following information: Assuming straight-line depreciation to zero, what is the IRR of this project? Initial investment = $160,000; requires an initial investment in NWC = $15,000 cost savings = $65,000 per year; life =..
Continue paying the salaries next year : Ron is unsure whether he should comply with the president's request. It doesn't seem to Ron that it is terribly important whether the expenses is recorded in December or January. Ron knows that the company needs the loan to continue paying the sal..
Considering an investment which has the cash flows : You are considering an investment which has the following cash flows. If you require a 4 year payback, should you take the investment? Year 0 1 2 3 4 5 6 Cash flow -35000 10000 5000 5000 7500 30000 20000 Which of the following is correct? 1.1. Yes, t..

Reviews

Write a Review

Finance Basics Questions & Answers

  Suppose you know that a companys stock currently sells for

suppose you know that a companys stock currently sells for 50 per share and the required return on the stock is 10

  Evaluate the criteria or mechanisms used by the

for this project you will select a company that you are familiar with or work for. if you have chosen a company to

  Find intrinsic value of the warrant

The People Power Corporation currently has a common stock selling for $15 per share. Warrants are also available. Three warrants entitle the holder to buy one share of common stock for $9.

  What can an entrepreneur determine by analyzing financial

What can an entrepreneur determine by analyzing the financial plan?

  I the stock currently sells for 47 per share what is the

rossdale inc. had additions to retained earnings for the year just ended 575000. the firm paid out 140000 in cash

  Depreciation expense and accounting cash flow

Pavlovich Instruments, Corporation, a creator of precision telescopes, expects to report pre-tax income of $430,000 this year. The firm's financial manager is planning the timing of a purchase of new computerized lens grinders.

  Difference between an ordinary annuity and an annuity due

What is the difference between an ordinary annuity and an annuity due? What type of annuity is shown below? How would you change it to the other type of annuity?

  What are the expected price levels and the nominal spot rate

What are the expected price levels E[P1D] and E[P1F] and the expected nominal spot rate of exchange E[S1D/F] in one period?

  What must the risk-free rate be

A stock has an expected return of 13.5 percent, a beta of 1.40, and the expected return on the market is 11.5 percent. What must the risk-free rate be? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g.,..

  Rate of return on the stock

If you will not be able to attend class that day, please submit it before class by email to [email protected] or at my office, 375A Jacobs (put Assignments under the door if I am not there).1.  BP has come out with a new product. As a result, the fir..

  Useful models for valuing derivatives

The derivatives market is complex because derivative buying and selling includes many things like financial contracts.

  The taussing company whose stock price is currently 30

the taussing company whose stock price is currently 30 needs to raise 15 million by issuing common stock. underwriters

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd