How much of his thirteenth payment was equity

Reference no: EM132002375

Travis bought a new Corvette Z06 for $100,000. He got a 60 month loan for $62700 at a nominal rate of 8.000% per year compounded monthly, with uniform monthly payments starting one month from the date of purchase. What were his monthly car payments? after 24 months how much would he still owe? He sold the car at the end of 36 months for $60,000. What was the payoff. (remember to add the last payment) How much of his thirteenth payment was interest? How much of his thirteenth payment was equity?

Reference no: EM132002375

Questions Cloud

Examine the position descriptions : Examine the Position Descriptions (PD) provided with the AT3 resources and use ONE that is most relevant to you; it may not be exactly what you want to do

Balance at the end of two years represents unpaid interest : How much of his balance at the end of two years represents unpaid interest? What are the monthly payments?

Explain the differences of leadership and management roles : Post an analysis of the similarities and differences of leadership and management roles as they relate to human services organizations.

What do angel investors look for in evaluating a new venture : What do Angel Investors look for in evaluating a new venture seeking funding and how can the Caribbean Entrepreneur be prepared for an investment meeting.

How much of his thirteenth payment was equity : How much of his thirteenth payment was interest? How much of his thirteenth payment was equity?

Distinguishing characteristics of evidenced-based practice : Post a description of the distinguishing characteristics of evidenced-based practice. Then provide an evaluation of factors that might support or impede.

The training method or combination of training methods : Count money in cash drawers at the beginning of shifts to ensure that amounts are correct and that there is adequate change.

Dividend-discount model-value of share of gillette stock : According to the dividend-discount model, what is the value of a share of Gillette stock if the firm's equity cost of capital is 7.6% ?

The company uses weighted average cost of capital : The machine would require an additional $6,000 in net working capital. The company uses a weighted average cost of capital of 12% and has a tax rate of 35%.

User Account

All Pages