Calculating interest and apr of installment loan

Assignment Help Finance Basics
Reference no: EM132585450

Financial Planning Exercise 9 Calculating interest and APR of installment loan

Assume that interest is the only finance charge. Use financial calculator to answer the questions.

How much interest would be paid on a $4,000 installment loan to be repaid in 24 monthly installments of $188.47? Round the answer to 4 decimal places.

% per month

What is the APR on this loan? Round the answer to 2 decimal places.

Reference no: EM132585450

Questions Cloud

What should the stock price be today : Assume that the stock has a beta of 2.0, Treasury bills yield 3%, and the market risk premium is 6%.
Why payroll service bureaus and professional employer org : Describe why payroll service bureaus and Professional Employer Organizations (PEO) are especially attractive to small and midsized businesses.
Information about britain inc : Here is some information about Britain Inc.:
Determine the days sales in inventory for target : Determine the days' sales in inventory for Target and Amazon.com. Use 365 days and round to one decimal place.Determine the inventory turnover for Target
Calculating interest and apr of installment loan : Financial Planning Exercise 9 Calculating interest and APR of installment loan
What would make a balance sheet not balance : What would make a balance sheet not balance?Liabilities would equal the total loan less the principal payment for that year (total loan is 100,000)
Write a paper about intent-based networking : Write a paper about intent-based networking and Automatic Implementation in intent-based networking - Human Error Enhancement in intent-based networking
Determine the capital of may after the third installment : Determine the capital of may after the third installment of NCAs. partnership is to be liquidated on an installment basis. the details of the first installment
Equation for the polynomial graphed : Question - Write an equation for the polynomial graphed below

Reviews

Write a Review

Finance Basics Questions & Answers

  Discuss various types of pension fund

Question 1: Discuss various types of pension fund and the investment behaviour of pension funds.

  Find the current value of the prepayment option

Assuming transaction costs would be $60,000, and the current value of the prepayment option in the old loan is $150,000, what is your NPV for paying off.

  Discuss the pros and cons of annuities

Discuss the pros and cons of annuities when compared with other financial instruments and whether they provide a better investment opportunity for some people. Provide specific examples to support your response.

  Valuation of gopro

This question requires you, among other things, to estimate the stock price for GoPro, and provide the analysis as requested. You will need to use "Sources of Financial Data" to obtain the necessary financial info/statements for GoPro, to identify..

  Provide examples of real organizations

Provide examples of real organizations that represent each level of risk tolerance: risk-averse, risk-neutral and risk-seeking.

  How much can you withdraw each month from your account

You are planning to save for retirement over the next 30 years. To save for retirement, you will invest $1,250 a month in a stock account in real dollars.

  Name the account where each of the following costs are

Name the account where each of the following costs are recorded:

  What is the expected dollar dividend

A broker offers to sell you shares of Bay Area Healthcare, which just paid a dividend of $2 per share. The dividend is expected to grow at a constant rate.

  How much was robs original investment

Rob has just received a check for $32,595. This is a return from an investment that he made 18 years ago. He was told that the return was the equivalent of 11% per year. How much was his original investment?

  Discuss about the walsh company production

Walsh Company expects sales of Product W to be 60,000 units in April, 84,000 units in May and 79,000 units in June. The company desires that the inventory.

  Find the npv using the after-tax wacc

The expected market return is 13 percent, and the risk-free rate is 5 percent. The company's marginal tax rate is 40 percent. Find the NPV using after-tax WACC

  Name of the company you are following the total assets

name of the company you are following the total assets owned by the corporation over the past two fiscal years the

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