How much in interest will you pay over the life of the loan

Assignment Help Financial Management

Reference no: EM131954689

Suppose you borrowed $32,000 for 4 years with quarterly payments at an APR of 6%. What is the quarterly payment? (ordinary annuity)

PLEASE SHOW WORK USING FORMULAS *NOT through excel or financial calulator

Amortize the first four payments. Use the table below:

(Payment number) (Payment) (Interest) (Prinicipal) (Remaining Balance)

1 _______ _______ _______ ________

2 _______ _______ ________ ________

3 _______ _______ _______ _________

4 _______ ________ _______ __________

How much in interest will you pay over the life of the loan?

Reference no: EM131954689

Questions Cloud

The account after you made the last payment : ow much money will be in the account after you made the last payment?

What is the future value of this cash flow pattern : What is the future value of this cash flow pattern at the end of year five?

What is your aftertax return for the year : You purchased a stock at the end of the prior year at a price of $88. What is your aftertax return for the year?

Stock price increase or decrease when the announcement : Will Geothermal’s stock price increase or decrease when the announcement is made? Why?

How much in interest will you pay over the life of the loan : How much in interest will you pay over the life of the loan?

Expected real rate of return-nominal rate investor demands : what is the expected real rate of return for an investor who purchases the 1-year Treasury bill? what nominal rate should the investor demand?

Realized return is known as the holding period yield : If you actually sell the bond before it matures, your realized return is known as the holding period yield (HPY).

Compute and interpret altman z-scores : Compute and Interpret Altman's Z-scores Following is selected financial information for eBay Inc., for its fiscal years 2016 and 2015.

Compute and interpret liquidity-solvency and coverage ratio : Compute and Interpret Liquidity, Solvency and Coverage Ratios Selected balance sheet and income statement information for Nordstrom, Inc. for 2016-2015 follows.

User Account

All Pages