Number of months-loan outstanding

Reference no: EM13258477

Franklin Co. borrowed $75,000 from a bank on August 1, 2006. Theannual interest rate on the loan was 10%. Franklin Co. reportedinterest expense related to this loan in its 2007 income statementof $1,875.

Calculate the number of months that the loan was outstanding (i.e.,the number of months Franklin Co. borrowed the money for).

Reference no: EM13258477

Questions Cloud

What would be the total return of the bond in dollars : A 8.1 percent coupon bond with 17 years left to maturity is priced to offer a 6.55 percent yield to maturity. You believe that in one year, the yield to maturity will be 7.2 percent.

What role does the entity-relationship diagram : What role does the entity-relationship diagram play in the design process? Discuss the different types of information represented in the ER diagram and the symbols used to represent them. Discuss the meaning of an entity as related to ER diagrams.

What is the total return of the tips in dollars : For the interest payment in the middle of the year, the CPI was 213.1. Now, at the end of the year, the CPI is 217.6 and the interest payment has been made.

Find frequency of oscillations aroundposition of equilibrium : A homogeneous disk of radius R and mass M rolls without slipping on a horizontal surface and is attracted to a point a distance d below the plane. find the frequency of oscillations around the position of equilibrium

Number of months-loan outstanding : Calculate the number of months that the loan was outstanding (i.e.,the number of months Franklin Co. borrowed the money for).

Determine synchronous-transient and sub-transient reactances : a. Neglecting resistance, determine the synchronous, transient and sub-transient reactances. b.If the machine is delivering 1.0 p.u. current at 0.8 power factor lagging at the rated terminal voltage when the short circuit is applied.

A criminal organization that is engaged in drug trafficking : A manager from a developing country is overseeing a multinational’s operations in a country where drug trafficking and lawlessness are rife. One day, a representative of a local “big man” approaches the manager and asks for a “donation” to help the “..

What was landry accounts payable turnover ratio : Landry's Restaurants reported cost of goods sold of $322 million and accounts payable of $83 million for 2003. In 2002, cost of goods sold was $258 million and accounts payable was $72million. What was Landry's accounts payable turnover ratio in 2..

Define phosgene decomposes by the reaction cocl : Phosgene decomposes by the reaction COCL(g) CO(g) + Cl2 K2=8.3x10^-4 (at 360C) When 5.00 mol of COCL2(g) are placed in a 10.0 L flask, find the quilibrium concentration of COCL2, CO and CL2 using the follow steps

User Account

All Pages