How many years will you make payments on the loan

Assignment Help Financial Management

Reference no: EM131308056

You borrowed $1,200 at 8% compounded annually. Your payments are $90 at the end of each year. How many years will you make payments on the loan?

11 years

10 years

Forever

9 years

Reference no: EM131308056

Questions Cloud

Challenges expanding into foreign markets : Challenges Expanding Into Foreign Markets What do you think are some of the biggest challenges facing larger corporations expanding into foreign markets with regards to segmentation, targeting, and positioning? How can those challenges be mitigated?

Short-term securities prices and interest rates : Suppose the U.S. Treasury issued $50 billion of short-term securities and sold them to the public. Other things held constant, what would be the most likely effect on short-term securities' prices and interest rates?

Closed after a relatively short period of time : If $1 had been placed in a bank account in the year 1066 and forgotten until now, how much would be in the account at the end of 2026 if the money earned 2% interest compounded annually? 2% simple interest? (Now you can see the power of compounding a..

Calculate the amount for her and explain the account : Annie's mortgage statement shows a total payment of $553.35 with $464.68 paid toward principal and interest and $88.67 paid for taxes and insurance. Taxes and insurance for three months were collected at closing. Calculate the amount for her and expl..

How many years will you make payments on the loan : You borrowed $1,200 at 8% compounded annually. Your payments are $90 at the end of each year. How many years will you make payments on the loan?

What is the net increase or decrease in cash : Use the following cash flow data of Haven Hardware for the year ended December 31, 2012. Cash Dividend $ 85,000 Purchase of Land $ 43,000 Cash Payment on Interest $ 50,000 Cash Payment on Salaries $ 105,000 Sales of Equipment $ 91,000 What is the net..

Coupon bond with semiannual payments and yield to maturity : Wine and Roses, Inc. offers a 9.5 percent coupon bond with semiannual payments and a yield to maturity of 10.56 percent. The bonds mature in 8 years. What is the market price of a $1,000 face value bond?

Compared to the revenues earned without futures contract : Suppose a soybean producer planted 2, 000 acres - with an average yield of 40 bushel an acre. Current soybean prices are $I0/bushel, but are expected to fall. The producer can enter into a 4 month futures contact at a price of $9.50/bushel. Suppose a..

Other investments of equal risk earn : An investment will pay $200 at the end the year, $250 at the end of the next year, $400 at the end of the third year, and $500 at the end of the 4th year. Other investments of equal risk earn 6%. How much is this investment worth today?

User Account

All Pages