Question
In: Finance
Friendly company has sold you 10,000 worth of food that will be repaid by payments of $210 per month for the next 15 years.
Friendly company has sold you 10,000 worth of food that will be repaid by payments of $210 per month for the next 15 years.
A. Compute the effective monthly rate
B. What is the annual percentage rate (APR)
C. what is the effective annual rate or equivalent annual return (EAR)
Your spouse wants to buy a new car. the car cost 100,000 and would be financed with monthly payments over an 8-year period. The credit union is offering interest rates of 2.4% APR on monthly car loans.
How much are the payments?
Solutions
jeff jeffy answered 2 years agoRelated Solutions
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For the next 30 years, you will receive annual payments of $10,000/year. The difference in the...
For the next 30 years, you will receive annual payments of
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8150
8300
7850
8000
8450
You can pay $91 per month, starting next month, for the next 5 years to have...
You can pay $91 per month, starting next month, for the next 5
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James has a loan of 10,000, which is to be repaid with 10 level annual payments...
James has a loan of 10,000, which is to be repaid with 10 level
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Calculate the Macaulay duration of the loan using the 14.5%
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James has a loan of 10,000, which is to be repaid with 10 level annual payments...
James has a loan of 10,000, which is to be repaid with 10 level
annual payments at an annual effective interest rate of 14.5%.
Calculate the Macaulay duration of the loan using the 14.5%
interest rate.
you have an outstanding student loan with required payments of $550 per month for the next...
you have an outstanding student loan with required payments
of
$550
per month for the next four years. The interest rate on the loan
is
10%
APR. You are considering making an extra payment of
$100
today? (that is, you will pay an extra
$100
that you are not required to? pay).
a. If you are required to continue to make
payments of
$550
per month until the loan is paid? off, what is the amount of
your final? payment???...
You have an outstanding student loan with required payments of $500 per month for the next...
You have an outstanding student loan with required payments of
$500 per month for the next four years. The interest rate on the
loan is 8% APR.
You are considering making an extra payment of $200 today (that
is, you will pay an extra $200 that you are not required to
pay).
If you are required to continue to make payments of $500 per
month until the loan is paid off, what is the amount of your final
payment?
What...
A debt of $38000 is repaid over 15 years with payments occurring semi-annually. Interest is 6...
A debt of $38000 is repaid over 15 years with payments
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(a) What is the size of the periodic payment?
(b) What is the outstanding principal after payment 24?
(c) What is the interest paid on payment 25?
(d) How much principal is repaid in payment 25?
If an insurance company offers you annuity payments of $45,000 per year for the first 12 years of retirement and $52,000 per year for the next 12 years
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beginning of year payments
You can pay $110 per month, starting next month, for the next 5 years to have a lawn mowing service.
You can pay $110 per month, starting next month, for the next
5 years to have a lawn mowing service. Alternatively, you can
purchase a riding lawn mower and pay $587 today and mow your own
lawn for 5 years, starting next month. If you decide to mow your
own lawn, how much do you save in PV terms if your investments earn
4.92% APR, compounded monthly? Note: If you would lose money, make
your answer with a negative sign...
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