How many regular annual payments

Assignment Help Financial Management

Reference no: EM131965773

Allysha just borrowed 33,900 dollars. She plans to repay this loan by making a special payment of 6,800 dollars in 3 years and by making regular annual payments of 7,000 dollars per year until the loan is paid off. If the interest rate on the loan is 9.85 percent per year and she makes her first regular annual payment of 7,000 dollars in one year, then how many regular annual payments of 7,000 dollars must Allysha make? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Reference no: EM131965773

Questions Cloud

Crowdfunding and crowd funding to get wider variety of topic : Search for both "crowdfunding" and "crowd funding" to get a wider variety of topics.

How much is marco race track worth : Marco owns a race track that has a cost of capital of 4.78 percent. How much is Marco’s race track worth?

What will same have to pay for equipment : What will Same have to pay for this equipment if the loan calls for semiannual payments.What will Sam pay for this equipment if loan calls for monthly payments.

Bianca took out loan from the bank today : Bianca took out a loan from the bank today for X. She plans to repay this loan by making payments of 1,340 dollars per month for a certain amount of time.

How many regular annual payments : Allysha just borrowed 33,900 dollars. how many regular annual payments of 7,000 dollars must Allysha make?

Compute what is an upstream sale : What is an upstream sale? How it is different from downstream sale. Which company may have unrealized profit on its book in both the cases?

What is the income tax liability for purrfect pet : Purrfect Pet Industries' income before taxes is $800,000 and its tax rate is 40%. What is the income tax liability for Purrfect Pet?

What are the purposes of the accounting system : What are the purposes of the accounting system? What are the different accounting ledgers used by construction companies and what are their purposes?

What amount of loss should gemma report in income statement : Jax reported a net loss of $5.2 million for the year. What amount of loss should Gemma report in its income statement for 2016 relative to its investment in Jax

User Account

All Pages