Solution-How much interest payment will be paid on march 31

How much interest payment will be paid on march 31

Assignment Help Finance Basics

Reference no: EM131238277

An individual has a line of credit of $10, 000 at a rate of 8% simple interest, with interest paid at the end of each month for the withdrawal. This person has taken out $7,500 on March 22. The bank uses a 365-day year. How much interest payment will be paid on March 31?

Reference no: EM131238277

Questions Cloud

Will her demand for IHOP pancake become more or less elastic : Suzette Crepe orders pancakes at her local IHOP every morning. When pancakes cost $1.20 per stack, she buys 6 stacks. When the price/stack is $1.80, she buys 5. Microwaveable pancakes become available at Suzette’s grocery store. Will her demand for I..

Which statement is not true about living wages : A ______ is when the overall state of the economy declines, measured by multiple indicators: a decline in the Gross Domestic Product (GDP - the total production of goods and services) for two or more consecutive quarters, an increase in unemployme..

What is the resulting orthonormal uvw basis : Show, that for a perspective transform, line segments that start in the view volume do map to line segments in the canonical volume after homogenization. Further, show that the relative ordering of points on the two segments is the same.

What must the coupon rate be on these bonds : DMA Corporation has bonds on the market with 17.5 years to maturity, a YTM of 6.4 percent, and a current price of $1,037. The bonds make semiannual payments and have a par value of $1,000. What must the coupon rate be on these bonds?

How much interest payment will be paid on march 31 : The bank uses a 365-day year. How much interest payment will be paid on March 31?

Derive incremental form of midpoint line-drawing algorithm : Modify the triangle-drawing algorithm so that it will draw exactly one pixel for points on a triangle edge which goes through (x, y)=(-1, -1).

What is the value of the option to wait : What is the value of the option to wait? (Enter your answer in dollars, not millions of dollars, e.g.. 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

How many bits are needed in that case : How many bits are needed in the z-buffer to ensure there are no visibility errors? Suppose that visibility errors only matter near the viewer, i.e., for distances less than 100 meters. How many bits are needed in that case?

Discuss difficulty with making assumptions in a negotiation : Discuss the difficulty with making assumptions in a negotiation and why information is important to a successful negotiation process for both sides.

User Account

All Pages

How much interest payment will be paid on march 31

Reference no: EM131238277

Reference no: EM131238277

Questions Cloud

Reviews

Write a Review

Finance Basics Questions & Answers

Financial reporting and analysis

A report on financial accounting

Describe the types of financial ratios

Differences between sole proprietorship and corporation

Prepare a cash budget statement

What are the implied interest rates

State pricing theory and no-arbitrage pricing theory

Small business administration

Effect of financial leverage

Evaluate the basis for the payment to the lender

Importance of opps, ipps, mpfs and dmepos

Time value of money

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT