Solution-Amount of the loan payment in year

Amount of the loan payment in year

Reference no: EM131041801

Home Repair, LLC just took out a $52,000, 10 year, 8%, interest only loan from the bank. Interest only payments are made annually. The entire principle due in year 10. What is the amount of the loan payment in year 10?

(Show work please)

Reference no: EM131041801

Questions Cloud

Accrual accounting principles are applied : Adjusting Entries are required at the end of the period to ensure that accrual accounting principles are applied. At the beginning of the month, $1,350 of office supplies were purchased. There was not a beginning balance and the one purchase was the ..

Develop a simple map application similar to uber app : Develop a simple map application similar to Uber app. Display the Taxi ID and the distance to the customer for the nearest taxi.

Interest paid semiannually : Rell Computers has 5.25 percent coupon bonds outstanding with a current market price of $546.19. The yield to maturity is 16.28 percent and the face value is $1,000. Interest paid semiannually. How many years is it until these bonds mature?

Internal definitions look sequential : Because internal definitions look sequential but are actually simultaneous, some people prefer to avoid them entirely, and use the special form letrec instead. Letrec looks like let, so it is not surprising that the variables it binds are bound si..

Amount of the loan payment in year : Home Repair, LLC just took out a $52,000, 10 year, 8%, interest only loan from the bank. Interest only payments are made annually. The entire principle due in year 10. What is the amount of the loan payment in year 10?

Room-selection sequence of property management system : Intentional bias can be programmed (through computer algorithms) into the room-selection sequence of a property management system. Rooms will then appear in a prescribed order rather than in sequence or at random, certain rooms can be offered first, ..

Shopping today for new furniture : You went shopping today for new furniture. You purchased some new furniture for $6,200 and paid for with your credit card. The interest rate is 14.9 percent, compounded monthly. How long will it take you to pay off this debt assuming that you do n..

Explain the difference between an invitation to treat : Discuss and explain the difference between an invitation to treat and an offer with decided cases. Mr Lau owns a boat. On 18 May, he wrote to Mr Wen. In his letter, he said ‘I am interested in selling my boat for $350,000. The terms are: a deposit of..

How might the company use secondary research : Briefly describe your company. Identify potential problems or issues (current or future) that your company might address with a research study. What indicators are prevalent demonstrating that the company is effectively (or ineffectively) using r..

User Account

All Pages

Amount of the loan payment in year

Reference no: EM131041801

Reference no: EM131041801

Questions Cloud

Reviews

Write a Review

Finance Basics Questions & Answers

Financial reporting and analysis

A report on financial accounting

Describe the types of financial ratios

Differences between sole proprietorship and corporation

Prepare a cash budget statement

What are the implied interest rates

State pricing theory and no-arbitrage pricing theory

Small business administration

Effect of financial leverage

Evaluate the basis for the payment to the lender

Importance of opps, ipps, mpfs and dmepos

Time value of money

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT