What is x jenss regular annual payment

Assignment Help Financial Management

Reference no: EM131959774

Jens just took out a loan from the bank for 25,550 dollars. He plans to repay this loan by making a special payment to the bank of 5,470 dollars in 4 years and by also making equal, regular annual payments of X for 7 years.

If the interest rate on the loan is 17.4 percent per year and he makes his first regular annual payment in 1 year, then what is X, Jens's regular annual payment?

Reference no: EM131959774

Questions Cloud

Human resource management perspective : The purpose of the project is to research other company's policies and action plans regarding diversity management, and to analyze the decisions

What is the 2015 cash flow to shareholders : In addition, you're told that the firm issued $6690 in new equity during 2015 and redeemed $4991 in outstanding long-term debt.

Discuss the impact of healthcare on the us economy : Compare and contrast the impact of healthcare on the US economy versus other countries. How does the US healthcare business model differ from a typical retail.

Why have dummy sources and dummy destinations : Why have dummy sources and dummy destinations? What are opportunity costs? How are they used in the Hungarian Method?

What is x jenss regular annual payment : If the interest rate on the loan is 17.4 percent per year and he makes his first regular annual payment in 1 year, then what is X, Jens's regular annual payment

Establishing parameters for cost-effective : The principal objective of utilization management is the reduction of practice variations by establishing parameters for cost-effective use of health care

Prepare the journal entry on july for jfk corp : JFK Corp. factors $300,000 of accounts receivable with LBJ Finance Corporation on a without recourse basis on July 1, 2008.

Goals in goal programming : What does it mean to rank goals in goal programming? How does this affect the problem's solution.

Complete the balance sheet and sales information : Complete the balance sheet and sales information using the following financial data: Total assets turnover: 1.3x Days sales outstanding: 36 days a Inventory.

User Account

All Pages