The entire principal of the borrowed amount

Assignment Help Business Economics

Reference no: EM13795867

The entire principal of the borrowed amount of $10,000 will be repaid in 2 years. However, the quarterly interest of $330 must be paid every 3 months. Find the nominal annual interest rate (always, rate/yr) that you are paying.

Reference no: EM13795867

Questions Cloud

Increment of buying the crane leasing the crane : A construction firm can lease a crane required on a project for 3 years for $180,000 payable now, with maintenance included. The alternative is to buy a crane for $240,000 and sell it at the end of 3 years for $100,000. Annual maintenance costs are e..

Confidence interval estimate of true population average : Suppose that the manager of a paint supply store wanted to estimate the correct amount of paint contained in one-gallon cans purchased from a nationally known manufacturer. It is known from the manufacturer’s specifications that the standard deviatio..

Explain why standardised products : Explain why standardised products are desirable for international companies, and the circumstances that are likely to prevent its implementation?

The production of electricity releases a harmful gas : The production of Electricity releases a harmful gas, SO2. What can the government do to maximize social well-being? Make use of a graph to illustrate your answer.

The entire principal of the borrowed amount : The entire principal of the borrowed amount of $10,000 will be repaid in 2 years. However, the quarterly interest of $330 must be paid every 3 months. Find the nominal annual interest rate (always, rate/yr) that you are paying.

Diamond-water paradox-marginal unit-infra-marginal unit : Consider the famous diamond-water paradox: water is necessary for life and extremely useful, but is very cheap on a per gallon basis (NYC charges $3.70 for 748 gallons), while diamonds are not much use for most things, but extremely expensive on a pe..

Economic-cultural-political and environmental : What can be said about the benefits and problems of each dimension (economic, cultural, political and environmental) of globalization? Is globalization a positive force overall? Why or why not?

Private consumption-investment and private saving : Consider a closed economy which can be characterized by the following equations: C = 400 + 0.8YD I = 600 + 0.1y- 1000r G = 300 T = 125 (M/P)d = 0.2Y-6000r (M/P)= 400 c. Determine the equilibrium values for real GDP (Y), the real interest rate (r), pr..

Solve for the goods market equilibrium : Consider a closed economy which can be characterized by the following equations: C = 400 + 0.8YD I = 600 + 0.1y- 1000r G = 300 T = 125 (M/P)d = 0.2Y-6000r (M/P)= 400 a. Solve for the goods market equilibrium and state the equation for the AD and IScu..

User Account

All Pages