How many months will it take to pay off your furniture

Assignment Help Financial Management

Reference no: EM131306139

Using the calculator at www.free-financial-advice.net/time-to-pay-debt.html, answer the following questions:

a. Upon graduation, you purchase $3,000 of furniture for your new apartment. The furniture store set your monthly payments at $150 at 12% interest. How many months will it take to pay off your furniture?

b. You get a raise at your job and decide to make double payments. By how many months will it reduce the time it takes to pay off your furniture that you computed in "a" above.

c. Due to economic conditions, your employer cuts your salary and you are now only able to make payments of $100 per month. The furniture store agrees to this. How many additional months will it take you to pay off your furniture?

Reference no: EM131306139

Questions Cloud

Why is it important to protect the tropical rainforests : Why is it important to protect the tropical rainforests? Provide three reasons to support your answer. What major ecological and economic benefits are provided by marine ecosystems?

Identify an organization that could use a pmo : Identify an organization that could use a PMO. Recommended an example of a project management standard and an example of a project management metric. Describe how each would advance the organization's project management effectiveness.

Discuss what steps you could take to improve your credit : Summarize what the Web site presents about the steps you should take to protect your credit.- Discuss what steps you could take to improve your credit.

Marketing-distribution or customer service : Classify each cost item into one of the business functions of the value chain, either (1) R&D, (2) design, (3) production, (4) marketing, (5) distribution, or (6) customer service.

How many months will it take to pay off your furniture : Upon graduation, you purchase $3,000 of furniture for your new apartment. The furniture store set your monthly payments at $150 at 12% interest. How many months will it take to pay off your furniture?

Accounting for different types of loss contingencies : Describe the formal procedures associated with issuing long-term debt. Describe the nature, type, and valuation of current liabilities. Explain the accounting for different types of loss contingencies. Explain the accounting for long-term notes payab..

Show outline of address distribution and forwarding table : An ISP is granted the block 16.12.64.0/20. The ISP needs to allocate addresses for 8 organizations, each with 256 addresses.

How would environmental management practices change : How would environmental management practices change in your area? Would a new species move in? How would migratory species be impacted? What would happen to your biome?

Do you feel less pain when using a credit card : Describe your opinion on this topic. Do you feel less pain when using a credit card? Are your spending decisions made more carefully when you use cash as opposed to credit cards?

User Account

All Pages