How much will vickie pay in finance charges

Assignment Help Financial Management

Reference no: EM131464350

Vickie wants to borrow $5,000 for three years. She will repay the $5,000 plus the finances chares in one lump sum at the end of the three-year period. If the lender charges her 12 percent add-on interest, how much will Vickie pay in finance charges?

a. $1,800

b. $6,800

c. $600

d. $5,600

Reference no: EM131464350

Questions Cloud

About the amortization schedule : Amortization schedule a. Complete an amortization schedule for a $50,000 loan to be repaid in equal installments at the end of each of the next three years.

How much will you have for a down payment at the end of year : You want to buy a house within 3 years, and you are currently saving for the down payment. How much will you have for a down payment at the end of Year 3?

Emphasize stakeholders interests in its policy statements : A firm’s top management team has a choice to emphasize stakeholder’s interests in its policy statements

Find the cash price received by party with short position : Find the cash price received by party with short position for every $100 of principal.

How much will vickie pay in finance charges : how much will Vickie pay in finance charges?

What is the present value of this single cash flow : What is the present value of this single cash flow?

Including the most recent bouns : Christmas bonuses (including the most recent bonus) in a project paying 8 percent per year?

Calculating present values : Calculating Present Values. Suppose you are committed to owning a $225,000 Ferrari.

Savings and loan offering an introductory rate : You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of 2.9 percent per year,

User Account

All Pages