How much principle did hank pay

Assignment Help Financial Accounting

Reference no: EM132805334

Problem 1: Hank purchased a $28,000 car two years ago using an 8 percent, 5-year loan. He has decided that he would sell the car now, if he could get a price that would pay off the balance of his loan. What is the minimum price Hank would need to receive for his car?

Problem 2: how much principle did Hank pay during the 12 months he had his car?

Problem 3: What is the future value of a $500 annuity payment over eight years if interest rates are 14 per 14 percent?

Reference no: EM132805334

Questions Cloud

What was the amount of merchandise purchased during the year : What was the amount of merchandise purchased during the year? Lambda Co. reported the following data at year-end: Sales, $500,000; beginning inventory, $40,000

Big data and blockchain technology : There are several emerging concepts that are using Big Data and Blockchain Technology.

Calculate the breakeven volume : Given the following information, calculate the breakeven volume? a. Revenue - $500,000, b. Depreciation - $160,000, c. Utilities - $65,000

What is the value of retirement plan : Assume that you contribute $300 per month, Given a 9 percent interest rate, what is the value of your retirement plan after 45 years?

How much principle did hank pay : What is the future value of a $500 annuity payment over eight years if interest rates are 14 per 14 percent? how much principle did Hank pay

Prepare entries to record the purchase of the land : Prepare entries to record the purchase of the land and the first interest payment in accordance with IFRS using the net method to record the note

What reading did you find most interesting and why : What other topics would you have liked to have covered in this course? How has this course changed your perspective or outlook moving forward?

Find how much money does need to contribute per month : To date, she has saved nothing, but she still has 20 years until she retires. How much money does she need to contribute per month to reach her goal?

Potential risks involved with cloud computing : What are some of the potential risks involved with cloud computing? Ask an interesting, thoughtful question pertaining to the topic.

User Account

All Pages