What is the monthly loan payment

Assignment Help Finance Basics
Reference no: EM13260443

Annuity Payment and EAR

You want to buy a car, and a local bank will lend you $15,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 12%, with interest paid monthly. What is the monthly loan payment? Round your answer to the nearest cent.

 

Reference no: EM13260443

Questions Cloud

What is the firms cash conversion cycle : Whittington Inc. has the following data. What is the firm's cash conversion cycle?
By how much would receivables decline : The firm's new CFO believes that the company could reduce its receivables enough to reduce its DSO to the benchmarks' average. If this were done, by how much would receivables decline? Use a 365-day year.
Calculate the expected time constant : A RC circuit is to be wired for testing using a 33 ohm resistor anda 100 mirco farad capacitor. The signal source is a squarewave generator, Calculate the expected time constant
What is the velocity of the adorable student : A 50 kg motionless student stands adorably on a frozen friction surface. What is the velocity (vector) of the adorable student after catching the shot
What is the monthly loan payment : What is the monthly loan payment? Round your answer to the nearest cent.
Management and labor union are bargaining : Management and a labor union are bargaining over how much of a $50 surplus to give to the union. THE $50 is divisible up to one cent. The players have one-shot to reach an agreement.
Find the cutoff wavelength for zinc : The work function for Zinc is 4.31 eV. Find the cutoff wavelength for zinc and what is the lowest frequency of light incident on zinc
Explain n2 is fed to a methanol synthesis reactor : A mixture of 30 mol% CO, 65 mol% H2, and 5 mol% N2 is fed to a methanol (CH3OH) synthesis reactor, where the following reaction occurs
What annual interest rate must they earn to reach their goal : Your parents will retire in 19 years. They currently have $300,000, and they think they will need $1 million at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your ans..

Reviews

Write a Review

 

Finance Basics Questions & Answers

  Working capital management and health care

Summarize at least three articles on working capital management. Cite a minimum of three primary source references with publication dates less than 18 months old.

  Compute anticipated value of dividends

Surgical Supplies Corp. paid a dividend of $1.12 over the last 12 months. The dividend is expected to grow at a rate of 25% over the next 3 years (supernormal growth). Compute the anticipated value of the dividends for the next 3 years (D1, D2, and..

  Explain theory about capital project projection satisfaction

Explain Theory about capital project projection satisfaction of the hurdle-rate requirements and what other criteria impact the decision

  Calculate the effective annual rate of borrowing

Corporation X has a line of credit at Bank A that requires it to pay 11 percent interest on its borrowing and to maintain a compensating balance equal to 15 percent of the amount borrowed.

  Present value table-present value function

by using a present value table, your calculator, or a computer program present value function, answer the following questions: Find out the present value of nine annual cash payments of $8,000, to be paid at the end of each year using interest rate ..

  Concept of contribution margin

When Maria was planning purchassing the peanut butter cookie plant, one of her options was to convert it to make more lemon crème cookies, since near-term demand for the lemon crème cookies exceeded current capacity by 600,000 packs.

  Determine the amount of goodwill

Austin Corporation bought 25 percent of the voting common stock of Gainsville Corporation, paying $2,000,000. Austin decided to use the equity method to account for this investment.

  Determine additional funds needed

Suppose that Marbell Corporation is operating below capacity, calculate the amount of new funds required to finance this growth. Marbell has an 8 percent return on sales and 70 percent is paid out as dividends.

  Determine the risk

Explain how Jenny might optimally invest $1,000,000 in a portfolio of financial assets to earn an expected return of 14 percent per annum and determine the risk that she would face in doing so.

  What specific product characteristics for each influenced

How price sensitive does this product appear to be, based on your conjoint analysis? What specific price/market information lead you to this conclusion. Be specific.

  Public company accounting and investor protection act

Discuss and explain the Public Company Accounting and Investor Protection Act of 2002? Describe the law in your own words.

  Levered equity calculation

Consider a project with free cash flows in one year of $90,000 in a weak economy or $117,000 in a strong economy, with each outcome being equally likely.

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!

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