Effective annual rate on this loan

Assignment Help Financial Management

Reference no: EM13970798

You want to buy a new sports coupe for $52,250, and the finance office at the dealership has quoted you a 8.0 percent APR loan for 60 months to buy the car. Your monthly payment will be $ ___ and the effective annual rate on this loan is ___ percent.

Reference no: EM13970798

Questions Cloud

Briefly discuss the difference in the results for two index : You are given the following information regarding prices for a sample of stocks. Construct a price-weighted index for these three stocks, and compute the percentage change in the index for the period from T to T + 1. Briefly discuss the difference in..

Incremental profits determine value : The five basic principles of finance include all of the following EXCEPT Cash flow is what matters. Money has a time value. Risk requires a reward. Incremental profits determine value.

Firm needs to plow back its earnings to fuel growth : Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 8 years because the firm needs to plow back its earnings to fuel growth. The company will pay a $13 per share dividend in 9 years and will inc..

Compounded monthly on its business loans : First National Bank charges 11.3 percent compounded monthly on its business loans. First United Bank charges 11.4 percent compounded semiannually. As a potential borrower, you decide to compare their effective annual rates. First National Bank's busi..

Effective annual rate on this loan : You want to buy a new sports coupe for $52,250, and the finance office at the dealership has quoted you a 8.0 percent APR loan for 60 months to buy the car. Your monthly payment will be $ ___ and the effective annual rate on this loan is ___ percent.

Determine the cash payments for operating expenses : Operating expenses, other than depreciation, for the year were $563,000. Accrued expenses decreased by $47,000. Using the direct method, determine the cash payments for operating expenses to be reported on the cash flow statement.

What are some indications that investors are risk averse : What are some indications that investors are risk averse? How would you as a portfolio manager support these investors? What kind of recommendations would you make? What would you recommend as a portfolio manager to reduce the risk for a risk adverse..

Banking industry to open the lending activity : Since the 2008-2011 financial crises, banks have become leery of lending to consumers. There has been much research completed on this subject and the blame has been a subject of much controversy. Fast-forward to 2013 and 2014. Has anything changed in..

Determine the cash flow from operating activities : Prestige Auto's records show net income of $30,00, depreciation expense of $10,000, and cash dividend paid of $5,000. Using the indirect method, determine the cash flow from operating activities on the cash flow statement.

User Account

All Pages