Calculate the amount of principal repaid in the 7th payment

Assignment Help Financial Management

Reference no: EM131970826

Please provide explanation.

A loan is being repaid with level annual payments based on an annual effective interest rate of 8%.

If the amount of principal repaid in the 15th payment is 749.63, calculate the amount of principal repaid in the 7th payment.

Reference no: EM131970826

Questions Cloud

Calculate the annual mortgage payment : The bank is charging 1.5 points and "processing" costs of $750; both points and processing costs are deducted from the mortgage when it is given.

Understand organisation profile and do a swot analysis : Identify an organisation, in the three cities understand its profile and do a SWOT analysis - Organisation structure and presence

How much money is needed for the fund : The members want to set up a perpetual fund to provide $100,000 for future replanting every 10 years.

Holding period return in the first year : How much can you get if you sell it after one year? What can you say now about the holding period return in the first year?

Calculate the amount of principal repaid in the 7th payment : If the amount of principal repaid in the 15th payment is 749.63, calculate the amount of principal repaid in the 7th payment.

Year zero-coupon government bond : "If the yield on a 5-year zero-coupon government bond is 8.4% pa, then the yield on a 6-year zero-coupon government bond must be at least 6.95% pa.

How much will you have in the account 7 years from today : If you invest $250 at the end of each month for the next 7 years into an account that has an interest rate of 8.4% per year, compounded monthly

Who are the major parties in the given case : Who are the major parties in this case? What is the possible cause of action available to the auditor? What are the consequences of those actions?

Determine what will be the monthly loan payment : You want to buy a car, and a local bank will lend you $10,000. The loan will be fully amortized over 5 years (60 months).

User Account

All Pages