How many years will take to pay off debt

Assignment Help Financial Accounting
Reference no: EM132973956

Problem 1: Damsy borrowed $10,000 from Money Credits at an 15% compounded quarterly. If she makes payments of $261.75 at the end of each month, how many years will it take to pay off her debt?

a) 13 years

b) 4.33 years

c) 5.2 years

d) 4.35 years

e) 5.44 years

Reference no: EM132973956

Questions Cloud

Compute basic and diluted earnings per share : Common shareholders received $1.10 per share dividends after preferred dividends were paid in 2021. Compute basic and diluted earnings per share for 2021
Review potential ethical implications of situation : Review the potential ethical implications of Microsoft's situation. How might they revise their strategies to align with good ethical practices
Explain the application development environment : Discuss which software development approach your organization utilizes in their application development environment. You may select an organization you are fami
Explain weber three types of authority : Identify and briefly explain Weber's three types of authority and indicate how they are still relevant to politics today?
How many years will take to pay off debt : Money Credits at an 15% compounded quarterly. If she makes payments of $261.75 at the end of each month, how many years will it take to pay off her debt?
Discuss the inventory characteristics : Firm- Apple. Discuss the inventory characteristics, categorize the inventory criteria under which the inventory could be classified
Write an essay explaining your new compensation strategy : Write an essay explaining your new compensation strategy for the mid-level manager position you still need to fill. Your audience is the chief executive officer
Find what is the bond duration : The bond promises its holders $60 per year in interest (paid annually) for the next 10 years before it matures. What is the bond's duration?
What qualitative factors should Daniels consider : Krista Waverly manages a fleet of 400 delivery trucks for Daniels Corporation. What qualitative factors should Daniels consider

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the value of the company equity

Operating cash flows and investment expenditures are forecast to grow in perpetuity by 4% a year. What is the value of the company equity

  Variable costing income be greater for the supplier

A supplier of aircraft parts to an aircraft manufacturer has noticed an increase in inventory. As a result of this, will absorption costing or variable costing income be greater for the supplier? Explain why?

  Why is interest expense not equal to interest actually paid

A company sold $100,000 bonds at $94 and the coupon interest rate was 4%. Why is the interest expense not equal to the interest actually paid

  Explain what would happen to producer and consumer surplus

Explain what would happen to producer and consumer surplus if the price were other than the market price

  How exchange rates should have affected the different types

Given the discussion of the movements of the U.S. dollar, Japanese yen, and British pound against the euro in 2002-2004, what is your guess on how exchange rates should have affected the different types of exposure

  What cost of goods manufactured during the month of october

October was $10 000 and the cost of goods sold during the month was $20 000. The cost of goods manufactured during the month of October was

  What characteristics of not-for-profit

What are the Characteristics of not-for-profit and governmental entities. Is the CYO a not- for-profit or a government organization? Why?

  Find how much would have to save each year for five year

Find How much would you have to save each year for five years to attain your goal? Assume an annual interest rate of 4%. Savings occur at the end of each year.

  Make a record the eliminations of the goodwill

Make a Record the eliminations of the goodwill and its impairment, if any, that are necessary 10 years after the control date, assuming no further impairment.

  Prepare the horizontal model to record collection of note

Agrico, Inc., accepted a 10-month, 13% (annual rate), $4,050 note from one of its customers on May 15, 2016; interest is payable with the principal at maturity. Prepare the horizontal model to record the interest earned by Agrico during its year ende..

  Accounting for depreciation on plant asset and its journal

accounting for depreciation on plant asset and its journal entry.on april 1 2007 sas corp. purchased and placed in

  Prepare the end of period closing entries for the Swanson

The income statement columns of Swanson Company's year-end worksheet are as follows: Prepare the end of period closing entries for the Swanson

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