Desired down payment amount

Assignment Help HR Management
Reference no: EM131526296

Suppose you want to purchase a car for $26,000 when you graduate in two years. At that time you will take out a 5-year loan at your bank with an APR of 5%, and monthly payments. Based on your estimated earnings, you think you'll be able to afford loan payments of $400 per month. You plan to save up the difference between the cost of the car and the amount you'll borrow by making monthly deposits over the next two years in a bank account that pays an annual rate of 3%. How large must your savings deposits be for you to achieve your desired down payment amount?

Reference no: EM131526296

Questions Cloud

Organizational forms used in forming a business : Discuss three main organizational forms used in forming a business? Explain what a firm's goal is from both a shareholder and stakeholder approach?
Prepare a retained earnings statement for the year ended : Conwell Corporation began operations on January 1, 2007, as an online retailer of computer software and hardware. The following financial statement data.
Describe the central elements of amazons strategy : How has the company's strategy changed from the original generic strategy that was applied? How would you describe the central elements of Amazon's strategy?
What is the main issue discussed in the article : What is the main issue discussed in the article? Explain. Search the internet for UTAR's webpage. What is UTAR's main competitive advantage?
Desired down payment amount : How large must your savings deposits be for you to achieve your desired down payment amount?
Required retirement fund : If you can invest at 8% compounded quarterly and will begin saving in 3 months (one quarter), how much will you need to deposit each quarter.
What is a luxury good and should marketers of luxury goods : What is a luxury good and should marketers of luxury goods abandon their efforts to establish premium pricing?
Identify the skills and abilities that will move your career : You will develop a Job Application Cover Letter (as though you were applying to that position) that highlights and emphasizes why you are the most suitable
Write essay using narration as chief method of development : Write a 500 to 750 word essay using narration as the chief method of development. See the list at the end of Chapter 4, Narration, in The Longman Reader.

Reviews

Write a Review

HR Management Questions & Answers

  Discuss the ethical issues associated with prioritization

Discuss the ethical issues or challenges associated with prioritization. Compare and contrast the extent to which there are unique or similar criteria across the different roles.

  Employee development

Propose three ways that a mentor and a new employee orientation can assist employees with their career development and evaluate the following criteria, in order of importance to you, in regard to the workplace: material wealth, success, career satis..

  Give a succinct overview of your fictitious company

Imagine you work for a company that has recently merged with a global company. Write a brief introduction to your company as well as the company that merged with the company . Then develop an eight to ten (8-10) point checklist detailing what step..

  Strengths and weaknesses of a leader

After reading about leadership styles and conducting some outside research, analyze strengths and weaknesses of a leader. For example, strengths could be a servant leadership style because of your ability to place the follower first.

  Affirmative action and managing diversity

What is the difference between equal opportunity, affirmative action, and managing diversity and Have these programs been successful

  Discuss about the information governance in health care

Information Governance has become a focus of health informatics. A co-theme related to information governance is Data Stewardship. For this assignment, you will create a concept map to illustrate the relationships and differences between these ..

  Evaluate the effectiveness of the organizational structure

Evaluate the effectiveness of the organizational structure and management system design, and its ability to support the key resources and capabilities that execute the business strategy

  Explain the major components of executive compensation plan

describe the major components of an executive compensation plan and discuss the effect reverse descrimination has had

  Quid pro quo and a hostile work environment

What is the difference between Quid Pro Quo and a Hostile Work Environment?

  How do you measure your success as a manager

Q: How Do You Measure Your Success as a Manager? Q: How Do You Keep Staff Members Motivated?

  What can you do as an hr manager to prevent this

Have you experienced anything like this in your working life (please give an example from your own experience or the experience of somebody you know).What can you do as an HR manager to prevent this from happening? Suggest a couple of solutions. T..

  Hrm consultancy report question is attachedfinal

question is attached. ltbrgt ltbrgtfinal project ltbrgt ltbrgtoverview ltbrgt ltbrgtthroughout the module you will

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