Assuming no additional charges or costs will occur with loan

Assignment Help Financial Management

Reference no: EM131304998

You have just agreed to a new loan and have purchased a $3,000 computer today. The loan has a 19.6% annual interest rate, compounded monthly. The minimum monthly payment is $58 and you do not expect to ever pay more than the minimum payment. Assuming no additional charges or costs will occur with this loan, approximately what will you owe on the loan at the end of 3 years (36 months) when you expect to need another new computer?

Reference no: EM131304998

Questions Cloud

Are more people working past the age of sixty five : Are more people working past the age of 65? Is retirement as stress free as it is portrayed in the media or is it dependent on other factors such as financial security, capacity, etc.?

What risks did it pose to the financial system : What is leverage? What information from this excerpt indicates that Long-Term Capital Management was highly leveraged?

Who gets treated and who has to wait : Who gets treated and who has to wait?What about your facilities?Determine what you plan to do and explain your reasoning as well as the ethical considerations behind your decision.

A review of a biography of the british investment banker : What is underwriting? In what sense is an investment bank that engages in underwriting acting as a financial intermediary?

Assuming no additional charges or costs will occur with loan : You have just agreed to a new loan and have purchased a $3,000 computer today. The loan has a 19.6% annual interest rate, compounded monthly. The minimum monthly payment is $58 and you do not expect to ever pay more than the minimum payment. Assuming..

Briefly describe history and companys main operations : IT Strategy (BUSS 0020) Identify how competitive advantage of the company is gained by the use of IT/IS - Evaluate the role of IT/IS in the company by analysing the use of IT/IS in particular function and its reflection on company' performance.

What is the fdic and why was it established : What are state banks? What are national banks? Why is the United States said to have a dual banking system?

Give the answer of muliple choice question : In order to be effective, solid waste engineers must be competent in all of the following areas EXCEPT, All of the following should be included in a request for a proposal EXCEPT,The initial cost of a solid waste facility is important to the mun..

Grow at the same rate as projected sales : Broussard Skateboard's sales are expected to increase by 15% from $7.8 million in 2015 to $8.97 million in 2016. Its assets totaled $5 million at the end of 2015. Baxter is already at full capacity, so its assets must grow at the same rate as project..

User Account

All Pages