Compute the total amount he must pay

Assignment Help Financial Management
Reference no: EM131014796

Clay Harden borrowed $36000 from a bank at an interest rate of 10% compounded monthly. The loan will be repaid in 48 equal monthly installments over four years. Immediately after this 18th payment, Clay desires to pay the remainder of the loan in a single payment. Compute the total amount he must pay.

Reference no: EM131014796

Questions Cloud

How much should you contribute each month to reach your goal : After graduating from IU, you are hired by a company that offers a 401(k) retirement plan. You would like to save enough in this plan so that when you retire in 35 years you have an account balance of $1 million. You plan to make monthly contribution..
How much could be saved in interest charges : One thousand dollars is borrowed for one year at an interest rate of 1% per month. If the same sum of money could be borrowed for the same period at an interest rate of 12% per year, how much could be saved in interest charges?
What influence would negative interest rates : What influence would negative interest rates have on bank depositors? Is there a Christian Worldview for such a monetary policy whereby depositors are paid a minuscule savings rate, or even charged a fee on their saving account?
Major forest products company in the united states : Georgia-Pacific is a major forest products company in the United States. In addition to timberlands, the company owns and operates numerous manufacturing plants that make lumber and paper products.
Compute the total amount he must pay : Clay Harden borrowed $36000 from a bank at an interest rate of 10% compounded monthly. The loan will be repaid in 48 equal monthly installments over four years. Immediately after this 18th payment, Clay desires to pay the remainder of the loan in a s..
What is its level of inventory : Soaring Eagles Corp. has total current assets of $11,870,000, current liabilities of $5,414,000 and a quick ratio of 0.87. What is its level of inventory?
How much will your savings grow to in eight years : Once upon a time, your mother told you to "pay yourself first" - and you always listened to your mother (except for the time you and two of your friends went to Atlantic City in the middle of the night ... well never mind THAT!). Twice each year (6 m..
Determine the percentage of methane : You may assume all of the methane that does react forms H2O and CO2. If the reactants are fed into the reactor at 25ºC and 1 bar and the exiting gases leave at 1000ºC and 1 bar, determine the percentage of methane that passes through the reactor u..
What EAR is Skip paying to buy his furniture : Skip Towne goes into Frank’s Friendly Furniture Sales and purchases a living room set and bedroom suite for $1,950 total. Skip has to make payments of $100 per month for 36 months. What EAR is Skip paying to buy his furniture?

Reviews

Write a Review

Financial Management Questions & Answers

  Net working capital requirements-salvage values

You have just graduated from the MBA program of a large university and one of your favorite courses was "Today's Entrepreneurs." In fact, you enjoyed it so much you have decided you want to "be your own boss." Depreciation, salvage values, net workin..

  About the save money

You are going to save money for your son’s education. You have decided to place $2,539 every half year at the end of the period into a saving account earning 8.14 percent per year, compounded semi-annually for the next 9 years. How much money will be..

  What was your total nominal rate of return on investment

Suppose you bought a bond with a coupon rate of 8.4 percent one year ago for $907. The bond sells for $946 today. Assuming a $1,000 face value, what was your total dollar return on this investment over the past year? What was your total nominal rate ..

  Direct installment loan differs from an indirect installment

Explain how a direct installment loan differs from an indirect installment loan.

  What terms of the balance sheet changed

Suppose that a company raises $900,000 million by issuing $600,000 of long term debt and sell common stock for $300,000. The funds raised are used to buy new machinery used in producing inventory. What terms of the balance sheet changed? Would shareh..

  Calculate the value of the securities

Assume that you inherited some money. A friend of yours is working as an unpaid intern at a local brokerage firm, and her boss is selling securities that call for 4 payments of $50 (1 payment at the end of each of the next 4 years) plus an extra paym..

  What is the price earnings ratio

Suppose that a company has 500,000 shares outstanding, market value of $85 million and and net income of $18 million. What were earnings per share ? What is the price earnings ratio?

  Discuss a project in the news or a historical project

1. discuss a project in the news or a historical project. nbspresearch and give information on any metrics trends cause

  Determinants of interest rates

The real risk-free rate is 2%. Inflation is expected to be 3% this year, 5% next year, and then 6% thereafter. The maturity risk premium is estimated to be 0.0004 x (t - 1), where t = number of years to maturity. What is the nominal interest rate on ..

  Shares in a investment grade bond fund

James bought shares in a investment grade bond fund. Assume that modified duration of the bonds in the portfolio is 14 years. The average maturity of the bonds is 23.5 years and the fund has a YTM of 4%. If the NAV of the fund’s shares is $10, if the..

  Expect your portfolio to be worth in total

Your portfolio is 100 shares of Sunny Morning, Inc. The stock currently sells for $63.69 per share. The company has announced a dividend of $1.35 per share with an ex-dividend date of April 19. Assuming no taxes and no news or other surprises, how mu..

  What is the expected return on silvanus stock

The stock of Silvanus Wildlife, Inc., has a beta of 1.04. The market risk premium is 8.21 percent and the risk-free rate is 3.59 percent. What is the expected return (in percents) on Silvanus stock?

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