User Account

All Pages

How much would she have paid in total over the life of loan

Assignment Help Accounting Basics
Reference no: EM133044355

Question - A recent college graduate buys a new car by borrowing $22,000 at 7.2%, compounded monthly, for 4 years. She decides to pay $539 instead of the monthly payment required by the loan.

Required -

a. What is the monthly payment required by the loan? How much extra did she pay per month?

b. How many $539 payments will she make to pay off the loan?

c. How does she pay in total over the life of the by paying $539 per month rather than the required payment?

If instead of paying $539 per month she only paid the required payment every month, how much would she have paid in total over the life of the loan?

How much will she save by paying $539 per month rather than the required payment?

Reference no: EM133044355

Questions Cloud

What amount may carri and dane deduct for their contribution : Their total AGI in 2019 is $196,000, and they earn salaries of $87,000 and $95,000, respectively. What amount may Carri and Dane Deduct for their contributions
What is the price of the stock : Its dividends are expected to grow at a constant rate of 4% per year forever. If the required rate of return for this stock is 13%, what is the price of stock
Journal article review - active shooter : What are the student's recommendations for future research and how would it impact crisis intervention in law enforcement
Determine the equivalent annual cost of each machine : The first copier will have an initial cost of $8,000 and will have operating costs of $1,000 per year during its 5 year life. Determine equivalent annual cost
How much would she have paid in total over the life of loan : If instead of paying $539 per month she only paid the required payment every month, how much would she have paid in total over the life of the loan
Creating guiding coalition and developing transformational : Creating guiding coalition and developing transformational vision are steps within what phase of Kotter's 8 stage change model?
What will the operating income or loss be for the year : If the proposal is accepted and sales remain at the current level, what will the operating income or loss be for the following year
Developing transformational vision : Creating a guiding coalition and developing transformational vision are steps within what phase of Kotter's 8 stage change model?
Enforcement technique you suggest difficult to implement : How can the key and foreign key constraints be enforced by the DBMS? Is the enforcement technique you suggest difficult to implement?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd