Made until all the principal and interest have been repaid

Assignment Help Business Economics

Reference no: EM131239777

You borrow ?$10,000 from a bank for three years at an annual interest? rate, or annual percentage rate?(APR), of 12?%.

Monthly payments will be made until all the principal and interest have been repaid.

a. What is your monthly? payment?

b. If you must pay two points up? front, meaning that you get only ?$9,800 from the? bank, what is your true APR on the? loan?

Reference no: EM131239777

Questions Cloud

Free trade regime in the textile industry : 1: Why was the shift to a free trade regime in the textile industry good for Bangladesh? 2: Who benefits when retailers in the United States source textiles from low wage countries such as Bangladesh? Who might lose? Do the gains outweigh the los..

Construct a recurrence for rn and explain why it is correct : Now suppose that you want to solve the Restricted Trench puzzle. The setup is the same as the Trench puzzle of the previous problem, but only one direction of slant is allowed for the triangle's diagonal. Let us denote the number of ways of fillin..

What are the major software parts of a nos : What is a cable plan and why would you want one? What does a NOS do? - What are the major software parts of a NOS?

How many ways are there to get from the top floor : Still, for an n-floor shopping mall, how many ways are there to get from the top floor to the first floor so you can leave?

Made until all the principal and interest have been repaid : Monthly payments will be made until all the principal and interest have been repaid. What is your monthly? payment? If you must pay two points up? front, meaning that you get only ?$9,800 from the? bank, what is your true APR on the? loan?

Briefly describe how csma cd works : Briefly describe how CSMA/CD works. - Explain the terms 100Base-T, 100Base-F, 1000Base-T, 10 GbE, and 10/100/1000 Ethernet? - How do Ethernet switches know where to send the frames they receive?

Identifying comparative advantage : In your answer be sure to be very specific as to how you identified the comparative advantage in each country and define how one goes about identifying comparative advantage.

Find a closed form for this recurrence : Find a closed form for this recurrence and use induction to prove that the closed form is correct.

Calculate the yield to maturity of loan : According to a website of an installment lender, borrowers in California could be eligible to receive a loan of $2600 and pay back by making fixed monthly payments of $767.96 for nine months. Calculate the yield to maturity of this loan.

User Account

All Pages