Find the payment amount for the loan

Assignment Help Financial Management

Reference no: EM13726152

A loan has monthly payments. The APR is 19%, and interest is compounded 2 times per year. Calculate the effective interest rate that would be needed to find the payment amount for the loan.

Reference no: EM13726152

Questions Cloud

Shares of common stock outstanding : At December 31, 2014, Sager Co. had 1,200,000 shares of common stock outstanding. In addition, Sager had 450,000 shares of preferred stock which were convertible into 750,000 shares of common stock. During 2015, Sager paid $900,000 cash dividends on ..

Relationship between dollar and euro at this exchange rate : Given the following Euro to $ Exchange rate of 1.46, what is the information contained in this quote? If the Purchasing Power Parity Theory is correct, what is true about the relationship between the US dollar and the Euro at this exchange rate?

Steps needed to launch and run the advertising campaign : Explain the exact steps needed to launch and run the advertising campaign (for example, how an ad could be placed in the proposed newspaper, TV program, or social media site) and how much it will cost

How does supreme court decide which case to review each year : How does the supreme court decide which cases to review each year?

Find the payment amount for the loan : A loan has monthly payments. The APR is 19%, and interest is compounded 2 times per year. Calculate the effective interest rate that would be needed to find the payment amount for the loan.

What is the effective annual rate on this loan : You have a car loan with a nominal rate of 6.10 percent. With interest charged monthly, what is the effective annual rate (EAR) on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit th..

Bond equivalent yield and discount yield : The treasurer of a large corporation wants to invest $36 million in excess short-term cash in a particular money market investment. The prospectus quotes the instrument at a true yield of 4.48 percent; that is, the EAR for this investment is 4.48 per..

What did you learn from gender and race : The report should be a personal, first-person response to your visit. What did you see? What did you think? What did you learn?

What is the yield to maturity on treasury strips : What is the yield to maturity on a Treasury STRIPS with 4 years to maturity and a quoted price of 87.269? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

User Account

All Pages