What is the rebate on a loan

Assignment Help Financial Management

Reference no: EM131307313

1. What is the rebate (Rb) on a loan of $2,000 at 5% annual interest if the borrower decides to pay it all after 10 payments of the 24-payment maturity time?

2. Find the monthly payment of a $4,000 loan for 48 months at an add-on 9% annual interest. Also, find the final balance if this loan is to be paid off at the 30th payment (assuming that 29 payments have been made).

Reference no: EM131307313

Questions Cloud

What is the original source of the energy : What is the original source of the energy? How is energy transferred within living systems? You may answer in written text and/or by drawing and labeling a diagram of a generalized system.

What will be breakdown between interest and principal : What will be her monthly payment and the breakdown between interest and principal for (1) the 1st payment, (2) the 10th payment, and (3) for the 23rd payment?

What will the balance due be under the rule of 78 method : Glenn had an auto loan of $4,500 at 7% annual interest for 3 years. He decides to pay off the remaining balance after he has made 29 payments. What will the balance due be under the rule of 78 method?

Compute the unit product cost for one unit of each model : Compute the unit product cost for one unit of each model and Compute the activity rate for each of the activity cost pools - Compute the predetermined overhead rate using direct labor-hours as the basis for allocating overhead costs to products.

What is the rebate on a loan : What is the rebate (Rb) on a loan of $2,000 at 5% annual interest if the borrower decides to pay it all after 10 payments of the 24-payment maturity time?

What is drug abuse and dependence : Describe the effectiveness of treatment in substance abuse as evidenced in research studies.Describe the biopsychosocial as it relates to the development of substance abuse disorders. What are three reasons for the high frequency of misdiagnoses of p..

Does http have any session-layer features : In Chapter 1, we mentioned that the TCP/IP suite, unlike the OSI model, has no session layer. But an application-layer protocol can include some of the features defined in this layer if needed. Does HTTP have any session-layer features?

What is bucky fullers dymaxion house attempting to achieve : What is Bucky Fuller's Dymaxion house attempting to achieve? Why did it fail? In what ways did it succeed? What is the relationship between the Republic of Congo and the art nouveau? What is the whiplash style?

How a client or server can change this situation : HTTP version 1.1 defines the persistent connection as the default connection. Using RFC 2616, find out how a client or server can change this default situation\ to nonpersistent.

User Account

All Pages