Calculate the monthly payment for loan individually

Assignment Help Finance Basics
Reference no: EM133120359

Suppose you have the following three student loans: $12,000 with an APR of 7.5% for 12 years, $16,000 with an APR of 8% for 17 years, and $13,500 with an APR of 9% for 7 years.

a. Calculate the monthly payment for each loan individually.

b. Calculate the total you'll pay in payments during the life of all three loans.

C. A bank offers to consolidate your three loans into a single loan with an APR of 8% and a loan term of 17 years. What will your monthly payments be in that case? What will your total payments be over the 17 years?

a. The monthly payment of the $12,000 loan is $.

(Do not round until the final answer. Then round to the nearest cent as needed.)

Reference no: EM133120359

Questions Cloud

What is the cash flow : This information on the yield curve applies to all questions below: interest rates for different maturities (1yr, 2, 3, 4, 5) are (1.0%, 2.8, 4.5, 4.7, 4.0) res
IBM and analyze its corporate Diversity and Inclusion plans. : A description of the company history that necessitated the launch of a diversity initiative for each of your selected organizations.
Win the lottery and are offered the choices : You win the lottery and are offered the following choices. The appropriate discount rate is 7%. How much is each worth? Which would you choose?
Data Analytic Terminology : As a health care manager it is important that you understand data analytic terms as they are used in clinical and public health settings
Calculate the monthly payment for loan individually : Suppose you have the following three student loans: $12,000 with an APR of 7.5% for 12 years, $16,000 with an APR of 8% for 17 years, and $13,500 with an APR of
Company trading on london stock exchange : A UK Company trading on London Stock Exchange has the following information as of the end of 2021.
Prices of call options of the company : 1. For demonstration purposes you decided to use the binomial option pricing to find the price of a call option of the company's stock. The current price of the
What would be arbitrage profit in yen : Takeshi Kamada, a foreign exchange trader at Credit Suisse (Tokyo), is exploring covered interest arbitrage possibilities. He wants to invest $5,000,000 or its
Discuss the problems with the benchmark indexes : Briefly discuss the problems with the benchmark indexes (risks) of the international fixed income asset class and the currency hedging issues that can arise.

Reviews

Write a Review

Finance Basics Questions & Answers

  What are cranberry contribution and contribution margin

What is the firm's breakeven point in units? c. Calculate the dollar breakeven point in two ways. d. Sketch the Breakeven Diagram.

  Expected annual growth rate of the company dividends

The company's cost of equity is 8%. What is the expected annual growth rate of the company's dividends?

  Why new common stock that is raised externally

Explain why new common stock that is raised externally has a higher percentage cost than equity that is raised internally as retained earnings.

  What is the cost of common equity

If the current price of Two-Stage's common stock is $14.20, what is the cost of common equity capital for the firm? (Do not round intermediate calculations. Round answer to 0 decimal places, e.g. 15%.)

  Calculate the dupont identity

DuPont Identity. Suppose that the Bethesda Mining Company had sales of $2,945,376 and net income of $89,351 for the year ending December 31, 2016.

  How much will you have when you retire

How much will you have when you retire? Explain how you determined this figure.

  What is the best estimate for the risk-free rate

A company is considering investing in a project with an expected life of ten years.

  Find the correction of journal entry for bond interest

Find the Correction of journal entry for bond interest payment and this includes a brokerage commission of $1,250

  What is the credit rating for pfizer bonds

What is the shortest maturity bond issued by Pfizer that is outstanding? What is the longest maturity bond? What is the credit rating for Pfizer's bonds?

  How does expected return vary with beta

Suppose that the S&P 500, with a beta of 1.0, has an expected return of 11% and T-bills provide a risk-free return of 6%.

  Provide valuable inputs for management control

"Value Chain Analysis can provide valuable inputs for management control". Do you agree with this statement? Why or why not?

  What is the levered equity beta

Banisters is valued at $8.6 million and has debt of $2.1 million outstanding. The unlevered firm beta is 1.72, the debt beta is zero.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd