How long will it take him to repay loan to the nearest year

Assignment Help Financial Management

Reference no: EM13729378

As a student at P.U., Bob Karp borrowed $12,000 in student loans at an annual interest rate of 9%. If Bob repays $1,500 per year, how long will it take him to repay the loan to the nearest year?

Reference no: EM13729378

Questions Cloud

Real risk-free rate is expected to remain : The real risk-free rate is expected to remain at 3 percent. Inflation is expected to be 3 percent this year, and 4 percent next year. The maturity risk premium is estimated to be equal to 0.1%(t - 1), where t = the maturity of a bond (in years).

What rate of interest will you be earning : Your broker offers to sell you a note for $13,250 that will pay $2,345.04 per year for 10 years. If you buy the note, what rate of interest will you be earning?

What cash flow must the investment : You are negotiating to make a 7-year loan of $27,500 to Breck Inc. To repay you, Breck will pay $2,500 at the end of Year 1, $5,000 at the end of Year 2, and $7,500 at the end of Year 3, plus a fixed but currently unspecified cash flow, X, at the end..

Pipeline maintenance and refinery safety : This case investigates the ethical, negligence, and environmental issues related to an oil spill, cost cutting, corporate culture, social responsibility, and the regulatory cycle. Your focus is not so much on workplace safety as much as what ethic..

How long will it take him to repay loan to the nearest year : As a student at P.U., Bob Karp borrowed $12,000 in student loans at an annual interest rate of 9%. If Bob repays $1,500 per year, how long will it take him to repay the loan to the nearest year?

Discuss the process for amending the constitution : Analyze and discuss the significance of the Bill of Rights and subsequent notable amendments to U.S. democracy. Discuss the process for amending the Constitution. Is this a "fair" process? Explain.

What is cost of capital to firm for this project-hurdle rate : The risk free rate is 2.75%, measured by a long-term U.S. government bond. The total market return is expected to be between 12% over the foreseeable future. A biotech firm without production experience is considering making a drug in-house and profi..

Explain the alternative risk management approaches : Explain the alternative risk management approaches and their advantages and disadvantages for a medium-sized gold producer such as Mesa.

Create a value proposition statement or a tag line : Regarding the managerial implication of these analyses, create a value proposition statement or a tag line for the two stores-JCPenney and Nordstrom

User Account

All Pages