At the time what percentage of the principal has been paid

Reference no: EM13307801

A company borrowes $25000 at an interest rate of a nominal 16% per year compounded quarterly. The company desires to repay the loan in 36 equal quartely payments, with the first payment starting three months from now.
(a) What should be the size of each payment?
(b) If after making payments the company decides to pay off the balance of the loan at the start of the 17th quarter, how much must the company pay?
(c) At this time what percentage of the principal has been paid?

Reference no: EM13307801

Questions Cloud

At what speed does the wave travel : If a mechanical wave has a wavelength of 2.80 meters and its period is 4.5 seconds, at what speed does the wave travel

What is the proper lifetime of such a particle : a subatomic particle is traveling with a gamma factor of 20 as observed by a radiation monitor in a nuclear power plant. What is the proper lifetime of such a particle

Will ibms plan to give away some of its it assets : Will IBM's plan to give away some of its IT assets and intellectual property and increase support of opensource software products like linux ,be a successful growth strategy in the "brutally competitive marketplace" in which it operates?why OR WHY..

How much heat must be supplied to the water : A pot containing1.00 liter of water, initially at 20.08C, is placed on a 1000 W electric heating element. How much heat must be supplied to the water to bring it to a boil

At the time what percentage of the principal has been paid : A company borrowes $25000 at an interest rate of a nominal 16% per year compounded quarterly. The company desires to repay the loan in 36 equal quartely payments, with the first payment starting three months from now.

What is the heat-flow rate along the rod : One end of an iron rod 40 cm long and 3.3 cm in diameter is in ice water, the other in boiling water. What is the heat-flow rate along the rod

How to understand the code perfectly without unclear steps : Finish the following hangman C++ program and make it run well as well as comment the program through to help me understand the code perfectly without unclear steps.

Calculate kg per day of sludge process if sludge is solid : The effluent contains 20 mg/L of solids and 20 mg/L of BOD the biological treatment process produced .32 kg of bacterial solids per kg of BOD removed

Types of contracts and performance-based acquisition : Types of Contracts and Performance-Based Acquisition

User Account

All Pages