Remaining balance after making that payment

Assignment Help Financial Management

Reference no: EM132061818

1. Republic Bank advertises their interest rates at 7 ½ %. You decide to apply for a loan in the amount of $9,000 for 90 days. The bank grants your loan and the loan officer tells you that there is a document preparation fee of $150 that needs to be paid at the time you sign the documents for the loan. Find the APR. Assume a 360-day year.

2. You took out a loan of $5,000 on May 2 and went back on June 15 to make a payment of $1,200. The loan was at 4% for 1 year. What was your remaining balance after making that payment? Assume an exact year.

Reference no: EM132061818

Questions Cloud

How could we stop this feedback loop : How could we stop this feedback loop? people around the world are using more electricity, mostly made by more coal-fired electric power

Describe one journal article findings on reliability : Describe one journal article's findings on reliability. In your post, synthesize the following data and information and interpret it yourself.

Three branches of our national government : What are the three branches of our national (federal) government, and what is the function of each?

Describe an unsuccessful change initiative : In her discussions with Leroy, she mentioned that it would be good to have you participate in a focus group to discuss your experiences with the change process.

Remaining balance after making that payment : The loan was at 4% for 1 year. What was your remaining balance after making that payment?

Difference between enteral and total parenteral nutrition : Discuss the difference between enteral and total parenteral nutrition and what implications of each method should concern the nurse.

Compare and contrast theories of counseling : There are many theories behind the different counseling modalities. Some counselors will adhere to one specific theory, focusing treatment types to the tenets.

Your suggestions could be crafted into effective laws : Do you think any of your suggestions could be crafted into effective laws?

Connections between a child and a senior citizen : Describe some of the diet and health connections between a child and a senior citizen?

User Account

All Pages