Find what is the amount of the loan

Reference no: EM131944801

Question: Bianca took out a loan from the bank today for X. She plans to repay this loan by making payments of 1, 200 dollars per month for a certain amount of time. If the interest rate on the loan is 0.43 percent per month, she makes her first payment of 1, 200 dollars later today, and she makes her final monthly payment of 1, 200 dollars in 10 months, then what is X, the amount of the loan?

Reference no: EM131944801

Questions Cloud

Compare and contrast common features : Research and provide a brief summary of two or three of the alternatives to Apache and IIS. Compare and contrast common features, interfaces

Should bethesda mining take the contract and open the mine : Should Bethesda Mining take the contract and open the mine? Please justify your recommendation using accepted finance concepts you learned throughout.

Relation and a set of functional dependencies : Implement the algorithm given in class to compute the BCNF decomposition of a given relation and a set of functional dependencies.

Relatively risky bonds are called junk bonds : Primary market transactions may occur on an exchange or on the over-the-counter market. Relatively risky bonds are called junk bonds.

Find what is the amount of the loan : Bianca took out a loan from the bank today for X. She plans to repay this loan by making payments of 1, 200 dollars per month for a certain amount of time.

Case study on areas related to organisation development : SBM3305 Organisational Development Assignments. Students are given a case study on areas related to organisation development

Design a program that generates 100 random numbers : Design a program that generates 100 random numbers, and keeps a count of how many random numbers are even and how many numbers are odd.

How much will each annual payment be : Big Brothers, Inc. borrows $169,634 from the bank at 19.49 percent per year, compounded annually, to purchase the new machinery.

What questions do these texts bring up for you : How do these texts relate to larger themes and topics of the course? What questions do these texts bring up for you?

User Account

All Pages