How much will have after paying bank loan

Assignment Help Finance Basics
Reference no: EM133075046

You borrowed 20,000 from a local credit union to buy a car. You promised to pay this loan in 5 years. Supppose 3 years into your loan you have decided to sell the car for 10,000. When you sell the car you need to pay the remaining balance on your car. The APR on your loan is 6.75% compounded monthly a) How much money you owe to bank? ) How much will have after paying your bank loan.

Reference no: EM133075046

Questions Cloud

Analyze property for possible acquisition-syndication : You have just received (late 1993) the attached setup from a local broker for the purchase of a commercial warehouse facility in the City of Commerce
Prepare presentation on housewife compensation : Prepare presentation on Housewife Compensation
Find estimated current value of the property : Your real estate agent has informed you that similar properties have sold for a cap rate of 9.49%. What is your estimated current value of the property?
Characterize the fi risk exposure to fluctuations : Note: Net currency positions are foreign exchange bought minus foreign exchange sold restated in U.S. dollar terms.
How much will have after paying bank loan : The APR on your loan is 6.75% compounded monthly a) How much money you owe to bank? ) How much will have after paying your bank loan.
Compute Mr Coleman income tax : Compute Mr. Coleman's income tax. Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table
What is the discounted payback period : 1. Heinlein Inc is considering investing in a project with a cost of $100k. If the project is expected to produce cash flows of $50k in year 1, $140k in year 2,
What amount should be recognized as depreciation expense : The entity accounted for the acquisition as a finance lease for P2,400,000, What amount should be recognized as depreciation expense
How many years will you be able to withdraw all your money : You currently have $1,200 (Present Value) in an account that has an interest rate of 6.5% per year compounded semi-annually (2 times per year). You want to with

Reviews

Write a Review

Finance Basics Questions & Answers

  What is the hedge ratio and what does it signify

Given the preceding data, set up a perfect hedge and compute the call option's value.

  What will be the price per share

The following data is available for Garner Limited:Earnings per share = Rs.6.00Rate of return = 18 percent

  What is the bond relationship

What's the bond relationship and why it works in this statement: "The value of a bond is inversely related to changes in the investor's present

  If the fi decides to hedge using options should the fi buy

an fi must make a single payment of 500000 swiss francs in six months at the maturity of a cd. the fis in-house analyst

  Failure of bear stearns and failure of lehman brothers

What was the impact of the near failure of Bear Stearns and the failure of Lehman Brothers on Money Markets? What actions did the Federal Reserve and the Treasury Department take? What were the impacts of the decisions if any?

  Phylogenetic tree suing molecular systematics

What gene would look at to base the phylogenetic tree suing molecular systematics?

  What was the firm operating cash flow of given time

What was the firm's 2016 operating cash flow, or OCF? (A negative answer should be indicated by a minus sign. Enter your answer in dollars).

  Accept consumer deposits and make home mortgages

Base on my reading a thrift institution can be seen as a financial institution formed primarily to accept consumer deposits and make home mortgages

  Why do investors invest the lion share of their funds

Why do investors invest the lion's share of their funds in domestic securities?

  Which trade serve to limit or prevent international trade

which serve to limit or prevent international trade. "Since 2010, one in ten of the countries surveyed have experienced a significant increase in the level of short-term political risk.

  Determine the range of the rates of return

a. Determine the range of the rates of return for each of the two projects.b. Which project is less risky? Why?

  Multiple choice finance problems

Assume that one-year treasury bills yield 4% in the United State and 5 percent in Germany. Investors will be indifferent between them if they expect the dollar over the next year to.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd