How much car can you afford

Assignment Help Financial Management

Reference no: EM131928114

You intend to buy a new car when you graduate from FSB. You know you can only afford a monthly payment of $412/month.

You want to know how much car you can afford, so you go to your bank and are told the nominal rate of interest on a new car loan is 8.76%, with a 6-year loan, no down payment.

How much car can you afford? (Make your answer a positive number, no commas, no decimals.. Example 2500, not 2,500,).

Reference no: EM131928114

Questions Cloud

Favor of a new building project : A poll is given, showing 70% are in favor of a new building project.

Calculate the discount rate : Calculate the discount rate, d that is actuarially equivalent to the interest i used in the above two perpetuities.

Conduct a hypothesis test : Conduct a hypothesis test, by calculating the z-score, at a = .05, for a two-tailed test.

How many shares we choose to build our portfolio : How many shares and what positions of Y and Z should we choose to build our portfolio so that we actually maximize our utility function?

How much car can you afford : You intend to buy a new car when you graduate from FSB. You know you can only afford a monthly payment of $412/month.

What range of units manufactured by sample : What range of units manufactured by this sample would contain the sample mean 90% of the time?

Calculate the after-tax cash flow from the sale of fogger : We are thinking abut buying a widget fogger. It would cost $16,000 to purchase and $4,000 to install. It would be subject to a 5% investment tax credit.

What is the probability that all 3 jobs go to hatfields : Five Hatfields and two McCoys are up for 3 construction jobs in Williamson. What is the probability that all 3 jobs go to Hatfields?

What is the probability that xeres arrives first : They arrive in a random order and all arrive at different times. What is the probability that Xeres arrives first?

User Account

All Pages