Calculating loan rates

Assignment Help Accounting Basics
Reference no: EM1358220

Consider the solving of applied interest problems that you read about this week. Now, apply your knowledge of these models to a practical problem.

Please respond to all of the following prompts in the class discussion section of your online course:

1. Go to https://www.kbb.com/new-cars and choose a new car you would like to purchase. Go through all the steps of adding additional options to your car. Note the MSRP.

2. Then go to https://www.chase.com/ and click Products and Services and in the dropdown list click on auto loans and check auto loan rates. Input your zip code and compare with the standard auto loan rates. Summarize your findings.

3. Assume you are taking the loan out for 60 months. What would the simple interest and the maturity value be on your new car purchase?

4. Make up your own purchasing example and apply the I = Prt formula to this example.

Reference no: EM1358220

Questions Cloud

Froeign statement translation : Determine the inventory value using both the temporal and current methods. Show how this will be reflected on Royal Tea's statements and the consolidated statements of U.S. Beverages. Use the following information for this calculation:
Actions to boost the world economy : What actions might the federal government take to give the world's economy a boost? What is this policy called?
Using human capital theory elucidate what these dangers are : Using human capital theory elucidate what these dangers are. While there may be good reasons for heavily subsidizing university education, there are also some dangers in it.
Maintaining a professional relationship with our clients : This will help us see some of the future difficulties we will have in maintaining a professional relationship with our clients.
Calculating loan rates : Consider the solving of applied interest problems that you read about this week. Now, apply your knowledge of these models to a practical problem.
Job or organizational match : Explain what are the advantages of matching applicants to the job and what are the advantages of matching applicants to the organization?
Explain a time-series model and a casual model : Explain and Compare the primary differences between a time-series model and a casual model
Calculate the debt ratio and time interest earned : Laurel Street, president of Uvalde Manufacturing Corporation is planning a proposal to present to her board of directors regarding a planned plant expansion that will expense $10 million.
Incentives for entrepreneurship : Describe the incentives for entrepreneurship. Address why someone would willingly take the numerous risks associated

Reviews

Write a Review

Accounting Basics Questions & Answers

  Appropriate entry for transaction

What would be the proper entry for the following transaction?

  Estimated liability under warranties

During 2010, Markel had actual outlay of $48,000 for repairs under warranty. Markel employs the expense warranty accrual method-What amount should the company report for estimated liability under warranties at the end of 2010?

  Information about gaap

What are Generally Accepted Accounting Principles (GAAP)? How does GAAP affect financial reporting? How does GAAP need to change to accommodate today's dynamic business environment?

  Describing statement of cash flows

A Statement of Cash Flow is the statement which demostrate inflow and outflows of cash and cash equivalents of an enterprise during the particular period.

  Elements for action which is based on strict liability

Eagle Tools, Inc., the manufacturer of the gun, for product liability, on the ground of strict liability. What are the elements for an action based on strict liability? In whose favor is the court likely to rule?

  Derivative securities analysis

You're considering the S&P 500 futures contract. On the 1st November 2010, the S&P was trading at 1127,17 when futures contracts maturing on 1st March 2011 were priced at 1119,70. The annualised interest rate is 1,25% and the annualised dividend y..

  Connection with consolidation of assest

What worksheet entries are needed in connection with the consolidation of this asset? Assume that the parent applies the partial equity method.

  Consolidation-journal entries

On January 1, 2007, the stockholders of Phillips and Solina agreed to a consolidation. Because FASB requires that one party be recognized as the acquirer and the other as the acquirer-Prepare the journal entries on the books of Phillips to record t..

  Provide missing journal entry for prepaid rent

Prepaid rent at 1/1/10 was $20,000. During 2010 rent payments of $123,000 were made and charged to "rent expense." The 2010 income statement shows as a general expense the item "rent expense" in the amount of $122,000.

  Determine tax consequences to virginia

Virginia, who was experiencing financial difficulties, was able to adjust her debts as follows. Determine the tax consequences to Virginia.

  Amount of amortization to pension expense

The average remaining service period for employees expected to receive benefits is ten years. What is the amount of amortization to pension expense for year?

  Discussing accounting report criteria

Make a brief response in which you outline some examples of accounting report criteria (regulatory environment, issues with foreign currency, differences in GAAP, etc.) employed by a U.S.

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