How much interest will enrique save

Assignment Help Financial Management

Reference no: EM131932352

Enrique has a 60-month fixed installment loan, with a monthly payment of $40.55. The amount he borrowed was $2000. Instead of making his 12th payment, Enrique is paying the remaining balance on loan. How much interest will Enrique save (use the actuarial method)?

Reference no: EM131932352

Questions Cloud

Discuss the budgeting implications of different option : Discuss the budgeting implications of different option strategies and the cost-benefit issues associated with such decisions.

What is the net income for this firm : Pharrell, Inc., has sales of $586,000, costs of $272,000, depreciation expense of $70,500, What is the net income for this firm?

Define the current ir system : Define the current IR system and if you had to choose from one of the many suggested names, which one would you select? Justify your response.

Construct a histogram for the y data : Construct a histogram for the y data. What proportion of these subdivisions had no culs-de-sac? At least one cul-de-sac?

How much interest will enrique save : Enrique is paying the remaining balance on loan. How much interest will Enrique save (use the actuarial method)?

How might a companys wacc be affected by changes : Why would the suggested approach of using the cost of new debt as the hurdle rate probably not result in maximizing the shareholders wealth?

Calculate the absolute change in residents living : Louise wants to calculate the absolute change in residents living in large apartment buildings from 2000 to 2010.

Is it net advantage to leasing or to purchasing : Is it a Net Advantage to Leasing or to purchasing? what is the amount of the advantage?

Regression technique in the workplace : What is an example of using a regression technique in the workplace (example: using regression analysis for forecasting sales, or demand of a product)

User Account

All Pages