Solve the quarterly compounding interest rate charged

Reference no: EM132779636

Problem 1: Nich Inc. took a loan of $1,200,000 to build a new office. Calculate the quarterly compounding interest rate charged on the loan if $32,701.50 was repaid at the beginning of every 6 months and the loan was paid off in 23 years.

Reference no: EM132779636

Questions Cloud

Analysis of crime and criminals as moral panics : Moral panics occur when the media takes an arguable ordinary event and presents it in an escalating manner to be of extreme danger

Find what interest rate compounded monthly was fund growing : At what interest rate compounded monthly was the fund growing? (Assume that the interest rate remained constant throughout the term.)

Draw a cal of portfolio on expected return : Draw a CAL of your portfolio on expected return/ standard deviation diagramstandard deviation is 18.9% expected return is 14%

Discuss whether you feel some types of media : Discuss whether you feel some types of media (e.g., film, books, video games, web videos) are more criminogenic

Solve the quarterly compounding interest rate charged : Calculate the quarterly compounding interest rate charged on the loan if $32,701.50 was repaid at the beginning of every 6 months and the loan was paid off

Calculate the nominal interest rate for the investment : Calculate the nominal interest rate for the investment, compounded quarterly. Egan wanted to ensure that he had $65,000 for his child's university education.

Discuss how the special crime scene issues : Discuss how the special crime scene issues involved with a death investigation are typically dealt with.

How long will take to accumulate : How long will it take for the $14,250 to accumulate to $30,520 if the interest rate remained the same and he continued making the same month-end deposits

Where would you place your writing in the grid and why : Consider the grid by David Green that appears on p. 152 of Stylish Academic Writing. Sword asserts that the work of most stylish academic writers would.

User Account

All Pages