How many payments-including the final one will be required

Assignment Help Financial Management
Reference no: EM131891530

Jessica owes 2700 dollars on a credit card that charges 1.7 percent interest per month. She decides to pay off the debt by making monthly payments of 80 dollars, starting one month from now, followed by a final smaller payment. How many payments, including the final one, will be required?

Answer = payments.

Reference no: EM131891530

Questions Cloud

High efficiency purification system : Oxygen Optimization is considering buying a new, high efficiency purification system.
Describe future value annuity and future value of annuity : Describe future value annuity and future value of an annuity.
What would the after-tax cash flow be from equipment sale : What would the after-tax cash flow be from the equipment sale if the equipment is sold in 7 years for 109,000 dollars and the tax rate is 25 percent?
Underlying immunization relating duration to the discussion : Describe the concept underlying immunization relating duration to the discussion?
How many payments-including the final one will be required : Jessica owes 2700 dollars on a credit card that charges 1.7 percent interest per month. How many payments, including the final one, will be required?
What is level of current liabilities for project : What is level of current liabilities for project A expected to be at time 1 if level of current assets for project A is expected to be 8,900 dollars at time 1?
Project is expected to produce annual cash flows : The project is expected to produce annual cash flows of 6,260 dollars forever with the first annual cash flow expected in 1 year.
What is cash flow effect from change in net working capital : What is the cash flow effect from the change in net working capital expected to be at time 1?
What is the relevant operating cash flow : What is the relevant operating cash flow (OCF) for year 1 of the Vienna project that Fairfax Paint should use in its NPV analysis of the Vienna project?

Reviews

Write a Review

Financial Management Questions & Answers

  Derive the price of the preferred stock

Derive the price of the preferred stock in the 2 cases where it is callable and in 5 years when it becomes non-callable.

  Minimum redemption value investor need to realize same yield

An investor purchases a 1000 bond redeemable at par that pays semiannual coupons at a nominal rate of 8% compounded semiannually and matures in ten years. The bond will yield an annual rate of 7% convertible semiannually to maturity. If the bond is c..

  What is the length of prestopinos cash conversion cycle

Pretopino Corporation produces motorcycle batteries. Pretopino turns out 1,500 batteries a day at a cost of $6 per battery for materials and labor. It takes the firm 22 days to convert raw materials into a battery. Prestopino allows its customers 40 ..

  What volatility smile would you expect to see

Analysts consider the liquidation value of the company to be at least $300,000 and there are 100,000 shares outstanding. What volatility smile would you expect to see?

  Create profit diagram for this portfolio at expiration

Create a profit diagram for this portfolio at expiration including the premiums paid.

  Tax credits-the estimated remaining discount expense

The estimated remaining discount expense that can be taken as a tax deduction as a result of a sale after a 7 year holding period is

  The dividends are expected to grow

A7X Corp. just paid a dividend of $2.80 per share. The dividends are expected to grow at 20 percent for the next eight years and then level off to a growth rate of 5 percent indefinitely. If the required return is 13 percent, what is the price of the..

  What is the beta of the firms assets

The risk-free rate equals 7%, and the expected risk premium on the market portfolio equals 7%. What is the firm's WACC? What is the beta of the firm's assets?

  Increase the firm additional funds needed

Which of the following is likely to increase the firm's additional funds needed?

  Calculate the market value ratios

Calculate the following market value ratios. Roberts Company had an average of 10,000 shares outstanding during 2012, the net income was $87,000, and the stock price on December 31, 2012 was $41.00. Depreciation Expense was $50,000. Total assets are ..

  Chains in-house instead of purchasing them from supplier

A bicycle manufacturer currently produces 223,000 units a year and expects output levels to remain steady in the future. It buys chains from an outside supplier at a price of $2.20 a chain. If the company pays tax at a rate of 35% and the opportunity..

  What should be the price of this bond

Duke Energy has recently issued a bond with the following characteristics: maturity: 20 years, coupon rate: 8% (paid semi-annually), face value: $1000. Your investment advisor has told you that the yield-to-maturity on this bond is 7%. What should be..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd