Balance remaining to pay on loan after two years

Assignment Help Financial Management

Reference no: EM131908230

George Costanza has just taken out an $24,645.00, 60-month car loan from his local bank with a 5.40% interest rate compounded monthly. At the end of the second year, George plans on making a $2,943.00 payment directly to the loan’s principal and then to keep on making his regular monthly payments.

What is the balance remaining to pay on the loan after two years?

Reference no: EM131908230

Questions Cloud

Balance remaining on loan after extra payment : What is the balance remaining on the loan after the extra payment to principal is made

What rate would you actually be paying here : What rate would you actually be paying here?

Discuss the rule of first possession of natural justice : Cooperative enterprises are collectively owned, and their affairs are directed through shared governance. Use the preceding theory to discuss the management.

Establish pricing structure for radiology on procedure basis : Activity: You have been asked to establish a pricing structure for radiology on a per-procedure basis.

Balance remaining to pay on loan after two years : What is the balance remaining to pay on the loan after two years?

What is the ear of loan : You are looking at a one-year loan of $18,500. The interest rate on a one-year loan is quoted as 11.2 percent plus three points. What is the EAR of this loan?

Equivalent net worth of project at time of commercialization : Determine the equivalent net worth of the project at the time of commercialization.

Concrete mixer used in construction was purchased : A specialty concrete mixer used in construction was purchased for $340,000 7 years ago

Value of the entire business : What should she pay for 20% of the business if she believes the value of the entire business to be $1 million.

User Account

All Pages