User Account

All Pages

Annual nominal interest rate and effective annual rate

Assignment Help Finance Basics
Reference no: EM132037464

Amy is going to borrow $15,000, repaid over the next five year and make monthly payment. there are two ways that she is thinking about. One is the X Bank which offering a loan at 10% annum and monthly compounding, repaid over five years. The other one is the loan credit company called Money Credit Union. It has told Amy that the monthly payments will be $311.20. However, It has not revealed the interest rate it used to calculate this payment. and it did state that all loans are calculated using monthly compounding. Could you show me the monthly payment and Effective annual rate on the X Bank? What is the Annual Nominal Interest Rate and Effective annual rate on Money Credit Union loan?

Reference no: EM132037464

Questions Cloud

Bond based on the closing pricing : How to calculate the YTM of RM's 5-year bond based on the closing pricing.
Compute the realized rate of return for an investor : Compute the realized rate of return for an investor who purchased the bonds when they were issued and held them until they were called.
How important is form of ownership to healthcare finance : How important is the form of ownership to healthcare finance? Compare for-profit and not-for-profit organizations in terms of health care finance
What is the amount of the firm ebit : Advantage First Corporation has sales of $4,685,660; income tax of $481,908; the selling, general and administrative expenses of $234,872
Annual nominal interest rate and effective annual rate : What is the Annual Nominal Interest Rate and Effective annual rate on Money Credit Union loan?
What is the relationship between incremental cash flow : What is the relationship between incremental cash flow and new projects and what are the issues that affect incremental cash flow.
What is the optimal capital structure for managers : What is the optimal capital structure for managers to use for their companies?
Nonconstant growth stock valuation : Nonconstant Growth Stock Valuation Simpkins Corporation does not pay any dividends because it is expanding rapidly and needs to retain all of its earnings.
Equity of what percentage : A firm with sales of $1,000,000, net profits after taxes of $30,000, total assets of $1,500,000, and total liabilities of $700,000 has a return equity?

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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