Makes no additional charges

Assignment Help Financial Management

Reference no: EM132059551

1. Thom owes $6,600 on his credit card. The credit card carries an APR of 18.1 percent compounded monthly. If Thom makes monthly payments of $210 per month, how long will it take for him to pay off the credit card assuming that he makes no additional charges? Do not use excel.

a. 42.92 months

b. 46.22 months

c. 40.06 months

d. 11.42 months

e. 31.43 months

2. 20 years ago, your father invested $5,000. Today its worth $35,000. What is the annual return if interest was paid semi-annuall?

A) 8.50%

b) 9.97%

c) 7.60%

D) 11.29 %

Reference no: EM132059551

Questions Cloud

Find the equivalent annual annuity value : Project Q costs 200. It provides inflows of 130 per year for three years. The cost of funds is 6%. Find the equivalent annual annuity value needed to compare.

Develop a realistic understanding of the issues : This project is intended to encourage you to apply the concepts presented in this class to a real marketing issue. A recent Wall Street Journal article.

What is meant by hydrodynamic focusing : MED3LAB - What is Forward Scatter and what does it measure - What is Side Scatter and what does it measure - What was the purpose of adding

Determine what is the expected present value : A project will provide in 3 years either $8,000 with 20% probability, $13,000 with a 30% probability, $18,000 with a 40% probability, and $45,000.

Makes no additional charges : If Thom makes monthly payments of $210 per month, how long will it take for him to pay off the credit card assuming that he makes no additional charges?

What is the internal rate of return of given project : A project has an initial outlay of $2,291. It has a single cash flow at the end of year 8 of $4,345. What is the internal rate of return (IRR) for the project?

Find the temparature of the body after 60 minutes : Newton's law of cooling. if a body is in air of temperature 30 and the body cools from 215 to 105 in 30 minutes, find the temparature of the body after 60

What kind of options position should you take to offset risk : What kind of options position (in total contracts) should you take to offset this risk?

What is the project npv if the tax rate is given : A project has an initial requirement of $198,955 for new equipment and $10,880 for net working capital. The installation costs are expected to be $18,020.

User Account

All Pages