What annual interest rate is the bank charging

Assignment Help Financial Management

Reference no: EM131567871

Suppose that you borrow $10,000 today from First Bank of Las Vegas and promise to pay this loan back in 5 years with a total payment (principal plus interest) of $15370. What annual interest rate is the bank charging? Assume that compounding is annual.

Do not round at intermediate steps in your calculation. Report the rate in percent to two decimal places. Do not type the % symbol.

Reference no: EM131567871

Questions Cloud

Classify this lease as operating lease or as finance lease : Discuss whether Atlanta Tours Company should classify this lease as an operating lease or as a finance lease under (a) IFRS and (b) U.S. GAAP.

What is the projected value of your investment : What is the projected value of your investment in 32 years? not round at intermediate steps in your calculation.

What gross rate per unit of coverage should be charged : If Rock Solid wants to allow for a 40 percent expense ratio for this line of coverage, what gross rate per unit of coverage should be charged?

The highest price to intrinsic value : As of today, Nordstrom Inc's projected FCF intrinsic value is $50.74. During the past 13 years, the highest Price to Intrinsic Value:

What annual interest rate is the bank charging : What annual interest rate is the bank charging? Assume that compounding is annual.

Forego the project despite its high rate of return : What logical arguments would you use to convince your boss to forego the project despite its high rate of return?

Calculate the present worth given the interest rate : Calculate the present worth given the interest rate of 10%, compounded annually.

Existence of the buffett community present to marketers : What kind of opportunities does the existence of the Buffett community present to marketers? Develop a list of specific marketing and promotional tactics.

Annual standard deviation of return on stock : The annual standard deviation of return on Stock A's equity is 37 percent and the correlation coefficient of these returns,

User Account

All Pages