How much of the third payment is interest

Reference no: EM13273472

Gertrude Carter and Co. has an outstanding loan that calls for equal annual payments of $14,903 over the 10-year life of the loan. The original loan amount was $100,000 at an APR of 8 percent. How much of the third payment is interest? Do not enter the symbol $ in your answer. Simply enter the answer rounded off to two decimal points.

Reference no: EM13273472

Questions Cloud

What is the mass of the pulley : A massive pulley in the shape of a solid disk is mounted on an axle with negligible friction. What is the mass of the pulley

Explain entropy representations of the fundamental equation : Write the differential form of the energy and entropy representations of the fundamental equation. Identify the new intensive variables and how they relate to partial derivatives of the fundamental relations.

network structure-Management Information system : Which of the following is true of a network structure? The Management Information system (MIS) structure with one main computer system is called a

Remove a table from the database in SQL : A large computer information system maintains many different computer files. Which amongst them is called a perpetual file? Which command is used to remove a table from the database in SQL?

How much of the third payment is interest : How much of the third payment is interest? Do not enter the symbol $ in your answer. Simply enter the answer rounded off to two decimal points.

Database administrator's function : Primitive operations common to all record management systems include. Which of the following is a database administrator's function?

What range would you expect to see 99 percent of the time : What range of returns would you expect to see 95 percent of the time? What range would you expect to see 99 percent of the time?

What is the weight of the heaviest brick : A very powerful vacuum cleaner has a hose 2.61 cm in diameter. With no nozzle on the hose, what is the weight of the heaviest brick that the cleaner can lift

Explain ground-state wavefunction of the harmonic oscillator : Assume the form ?=Ne^(-ax^2) for the ground-state wavefunction of the harmonic oscillator, and substitute this into the schrodinger equatoin. Find the value of a that makes this an eigenfunction.

User Account

All Pages