User Account

All Pages

What is the amount of the finance charge on the loan

Assignment Help Accounting Basics
Reference no: EM133176680

Question - An Auntie Anne's franchise financed a $68,000 pretzel oven with a 6 1/2% add- on interest installment loan for 48 months. The loan required a 20% down payment.

Required -

a. What is the amount of the finance charge on the loan?

b. How much are the monthly payments?

c. What annual percentage rate is being charged on the loan?

d. If the company decides to pay off the loan after 22 months, what is the amount of the loan payoff?

Reference no: EM133176680

Questions Cloud

Briefly explain the budgeting process : Why is it important to consult colleagues, stakeholders, and specialist personnel? Briefly explain the budgeting process
Identify examples of effective overt communication : Identify examples of effective overt communication that Sharon can use in this negotiation. Explain your reasoning.
Create document with different interview questions : Create a document with 3 different interview questions you have struggled with in past interviews, and tell a few points for each to help you be more successful
Contrast the newly drafted usmca and nafta : Compare and contrast the newly drafted USMCA and NAFTA. What are three benefits for the United States?
What is the amount of the finance charge on the loan : An Auntie Anne's franchise financed a $68,000 pretzel oven with a 6 1/2%. What is the amount of the finance charge on the loan
What is unrelated diversification : What is unrelated diversification? What are the two ways to obtain financial economies when using an unrelated diversification strategy
Six myths and realities of teamwork : In The myths and realities of teamwork, Wright discussed the six myths and realities of teamwork. Briefly, explain each myth and provide a short personal though
Strengths and weaknesses of presentation : Promo: If you're looking for a colored TV which has the closest match to nature's living color, I recommend you "Magic TV Model 31 CIOP 20". I suggest this beca
Prepare journal entry required for each of these transaction : Incentive Corporation was authorized to Issue 12,000 shares of common stock, each with a $2 par value. Prepare Journal entry required for each of transactions

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