What is the highest rate can afford on a apr loan

Assignment Help Finance Basics
Reference no: EM131728253

Question: Calculating Annuity Present Values. You want to borrow $80,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,650, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan?

Reference no: EM131728253

Questions Cloud

What if interest rates suddenly rise : Present Value and Interest Rates. What is the relationship between the value of an annuity and the level of interest rates?
Evaluate time required for the initial oxygen concentration : evaluate the time required for the initial oxygen concentration to be reduced by half (x2 = x1/2) in the fuel cell using various numerical integration methods.
Describe the relevance of the robert t stafford act : Describe the relevance of the Robert T. Stafford Act and the Disaster Mitigation Act of 2000 (DMA2K) to local hazard mitigation.
How many payments will have made : Calculating the Number of Payments. You're prepared to make monthly payments of $250, beginning at the end of this month, into an account that pays 8 percent.
What is the highest rate can afford on a apr loan : Calculating Annuity Present Values. You want to borrow $80,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,650.
What kind of deal did the wide receiver snag : Calculating Present Values. In March 2015, the Kansas City Chiefs signed Jeremy Maclin to a contract reportedly worth $55 million. Maclin's salary.
Creating the reflect best-self portrait : Creating the reflect best-self portrait and Identify potential respondents - Write own best self story
What are the pros and cons of the death penalty of juveniles : What are the pros and cons of the death penalty of juveniles? Is the death penalty for juveniles a violation of the 5th amendment?
Compute the ear on the loan : EAR versus APR. You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage loan for 80 percent of the $2,950,000.

Reviews

Write a Review

Finance Basics Questions & Answers

  Cost of preferred stock the preferred stock of julian

cost of preferred stock the preferred stock of julian industries sells for s36 and pays 3.00 in dividends. the net

  Estimating the opportunity cost

Image text transcribed for accessibility: Estimating the Opportunity Cost. Julia brings home $1,690 per month after taxes. Julia?s rent is $377 per month, her utilities are $111 per month, and her car payment is $282 per month. Julia is currently ..

  There are three investment opportunities to consider the

risk amp return name scorethe following probability distribution of expected returns have been determined for benko

  Calculation of net present value

Calculation of Net Present Value and What is the net present value of a project with the following cash flows and a required return of 12%

  Best point estimate of the population proportion

Find the best point estimate of the population proportion p.

  Explain why some companies that issue bonds engage in

explain why some companies that issue bonds engage in interest rate swaps in financial markets. why do they not simply

  Determine the effective annualized cost of forgoing trade

(Trade credit discounts) Determine the effective annualized cost of forgoing the trade credit discount on the following terms.

  What is the current value of the firm

the bond have a 4% coupon rate, payable semiannually and a par value of 1000, mature in 10 years. the yield to maturity is 12% so the bonds now sell below par. what is the current value of the firm

  Contrast the advantages and disadvantages of the direct and

contrast the advantages and disadvantages of the direct and indirect methods of preparing the statement of cash

  1 two mutually exclusive investments cost 10000 eachand

1. two mutually exclusive investments cost 10000 eachand have the following cash inflows. the firms cost ofcapital is

  What is the projected net present value of this project

The after-tax cost of debt is 4.8 percent, the cost of equity is 12.7 percent, and the tax rate is 35 percent. What is the projected net present value of this project?

  Dividends and taxes

Finance problems, based  Abnormal Returns,    Underpricing - construct a simple example to show the following:  Dividends and Taxes-,  Dividend Policy

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!

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