Determine the lump sum amount to pay back

Reference no: EM13208173

you borrowed $10000 from a local bank with the agreement that you will pay back the loan in five years the pay back plan includes two parts: a graduated payment plan with the first payment set at 1500 at year 1 and a gradient of $600 afterward, plus a remaining lump sum at end of year 5. determine the lump sum amount so that the pay back is completed in full, considering the interest rate is 10%

Reference no: EM13208173

Questions Cloud

Find out the mass of acetamide present per kg of water : Determine the mass of acetamide present per kg of water if the freezing point of this solution is 0 °C. (The freezing point of pure water is 0°C (exactly) at 1 atm pressure and the molal freezing-point-depression constant for water is 1.86°C/m.)

What is the market demand function for total : a) What is the market demand function for total X (= X1+X2) as a function of PX; I1; I2; and PY. b) Graph the two individual demand curves (with X on the horizontal axis, PX on the vertical axis) for the case I1 = 1000, I2 = 1000; and PY = 10.

Explain advantageous to relux the reaction mixture : In the dehydration of methylcyclohexanols, would it be advantageous to relux the reaction mixture instead of performing a distillation?

Prepare a projected income statement : Prepare a projected income statement, balance sheet, and statement of cash flows and what are the limitations of the current ratio as a measure of liquidity?

Determine the lump sum amount to pay back : a graduated payment plan with the first payment set at 1500 at year 1 and a gradient of $600 afterward, plus a remaining lump sum at end of year 5. determine the lump sum amount so that the pay back is completed in full, considering the interest r..

State firefly luciferase is the enzyme that allows fireflies : Firefly luciferase is the enzyme that allows fireflies to illuminate their abdomens. Because this light generation is an ATP-requiring reaction, firefly luciferase can be used to test for the presence of ATP.

How would the quantity demanded of each type of housing : A local realtor estimated the long-term income elasticity of demand for rental properties to be 0.9 and the long-run income elasticity for owner-occupied housing to be 1.10. Recent estimates indicate that income is forecast to rise at 5% per year ..

Explain what is the work done by the gas : Helium gas at 104.0 kPa and 372.0 K is located within a cylinder with a piston. Initially the gas occupies 0.3000 m3. While a constant force, F, is applied to the end of the piston so that the pressure inside the cylinder is held constant at 104.0..

Explain how nebraska can end up with trade : Suppose there are two states that do not trade: Iowa and Nebraska. Each state produces the same two goods: corn and wheat. For Iowa the opportunity cost of producing 1 bushel of wheat is 3 bushels of corn. For Nebraska the opportunity cost of prod..

User Account

All Pages