Reduce the amount of time

Assignment Help Finance Basics
Reference no: EM133122909

You have some extra cash this month and you are considering putting it toward your car loan. Your interest rate is 7% (APR), your loan payments are $600 per month, and you have 36 months left on your loan. If you pay an additional $1000 with your next regular $600 payment (due in one month), how much will it reduce the amount of time left to pay off your loan?

Reference no: EM133122909

Questions Cloud

Calculate the overall effect of these three events : You buy a computer game for $50 using your credit card, receive $90 in wages from your casual job. Calculate the overall effect of these three events
What is the depreciation expense over the first year : You have just bought a new computer for $2,000. What is the depreciation expense over the first year
Compute the value of an asset : Perpetuities and annuities. The interest rate is 10% The value of an asset that appreciates at 10% PER ANNUM APPROXIMATELY DOUBLES IN SEVEN YEARS.
What amount could she claim on her return : During 2020, she incurred $6,900 in gambling losses and $5,590 in gambling winnings. What amount could she claim on her return
Reduce the amount of time : You have some extra cash this month and you are considering putting it toward your car loan. Your interest rate is 7% (APR), your loan payments are $600 per mon
Prepare all journal entries associated with this equipment : The asset was sold on May 1, 2021 for 300,000 dollars. Prepare all the journal entries associated with this equipment
Discuss how you would intervene : Discuss how you would intervene. It is important to assess not onlyintervention strategies but also to reflect on potential consequences
Compute the total cash outflow : Solar Inc. is considering a new project that complements its existing business. The company bought a piece of land three years ago for $200,000. This land is cu
What is the var number at confidence level : The daily return of a portfolio follows a normal distribution with mean 1% and standard deviation of 3%. If you invest $1000 in this portfolio, what is the VaR

Reviews

Write a Review

Finance Basics Questions & Answers

  Briefly discuss the irs s position

John forms a company and transfers property having a basis to him of $18,000 & a fair market value of $26,000 to the company for 1,000 shares of $10 par stock.

  In what ways are convertible securities and warrants similar

In what ways are convertible securities and warrants similar? Dissimilar?

  Focus your energy on comparing the attributes of the two

focus your energy on comparing the attributes of the two widely accepted models used for option pricing black-scholes

  Cash flow to stockholders for the year

If the company paid out $610,000 in cash dividends during 2018, what was the cash flow to stockholders for the year?

  Annual coupon rate and yield to? maturity

A 9-year bond pays interest of $26.70 ?semiannually, has a face value of $1,000?, and is selling for $762.49. What are its annual coupon rate and yield.

  What is quartz maximum lease price

Quartz Corporation is a relatively new firm. Quartz has experienced enough losses during its early years to provide it with at least eight years of tax loss.

  Creative pricing strategy for memberships

Many country clubs and professional sports teams use a creative pricing strategy for memberships in the case of country clubs or seating in the case.

  Why companies hd and ld have the same total assets

If the interest rate the companies pay on their debt is less than their basic earning power (BEP), then Company HD will have the higher ROE.

  Alculate the npv for both track hoes which should choose

The revenue from either track hoe is $95.00 per hour. Using a useful life of four years, a salvage value equal to 20% of the purchase price, 1,200 billable hours per year, and a MARR of 20%, calculate the NPV for both track hoes. Which track hoe shou..

  Support the implementation of fintech

Q1: What are the factors affecting the implementation of Fintech?

  Calculate the average rate of return for each stock

Assume you held a portfolio of 70% Stock A and 30% Stock B during the period. Calculate the assumed rate of return each year for your portfolio. Then calculate the average rate of return for the entire period for your portfolio. Calculate the standar..

  What is the value of a bond that matures in 20 years makes

what is the value of a bond that matures in 20 years makes anannual coupon payment of 40 and has a par value of 1000?

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