Reduce the amount of time left to pay off loan

Assignment Help Financial Management
Reference no: EM131983259

You have some extra cash this month and you are considering putting it toward your car loan. Your interest rate is 7.0%, your loan payments are S600 per month and you have 36 months left on your loan. If you pay an additional $1,000 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? (Note: Be careful not to round any intermediate steps less than 6 decimal places.)

Reference no: EM131983259

Questions Cloud

Opportunity for you to reflect on your learning : Final Application Report The final paper is an opportunity for you to reflect on your learning.
Research Project - Big Data Challenges in IoT and Cloud : Assignment for research project of 6000 words and the topics are Big Data Challenges in IoT and Cloud and IoT Health Care
Bond modified duration by using changes : Find the approximate bond's modified duration by using changes in the interest rate up and down by 5 basis points.
What does your equation look like to four decimal places : What does your equation look like, to four decimal places? What is your dependent variable, and what are your independent variables?
Reduce the amount of time left to pay off loan : How much will it reduce the amount of time left to pay off your loan?
What type of test is needed to analyze the data : What type of test is needed to analyze the data? What is the hypotheses (including the symbols used to state the hypothesis)?
Network analysis using wireshark : MN504 - Networked Application Management - Network Analysis using Wireshark - Analyse performance and deployment issues for networked applications
Discuss a tightening monetary policy : Top of page 4 you discuss an "expansionary monetary policy". However, at the bottom of page 9, you discuss a tightening monetary policy?
What type of test is needed to analyze the data : What type of test is needed to analyze the data? What is the hypotheses (including the symbols used to state the hypothesis)?

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

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