User Account

All Pages

What are the biweekly payments

Assignment Help Accounting Basics
Reference no: EM133107632

Question 1 - Ha-yoon bought a car for $30,000 by making a downpayment of $8,700 and biweekly (every two weeks) payments at the end of every two weeks for 5 years. Interest is 2.44% compounded semiannually.

1) What are the biweekly (every two weeks) payments, rounded to the nearest cent?

2) What is the cost of financing?

Question 2 - Cristina took out a loan for $13,800 from Bank of Montreal at 7.44% compounded monthly, and will be making payments at the end of the month for the next 7.5 years to repay the loan. Answer the following questions, and round all answers to two decimal places if necessary.

Follow this chart :

1) What is the amount of each payment?

2) What is the total sum of money that Cristina will eventually pay to clear the loan?

3) What will be the total amount of interest paid?

Reference no: EM133107632

Questions Cloud

Assessing the 5 conflict management style : This is intended to have you deepen your understanding of each of the basic 5 CMSs
Record the adjustment for uncollectible accounts : On December 31, 2021, Southwest estimates uncollectible accounts to be 20% of accounts receivable. Record the adjustment for uncollectible accounts
Understanding the principles of christian stewardship : Discuss how understanding the principles of Christian stewardship can be utilized by healthcare administrators in their focus on community and population health
Understand key labour events in canadian history : Why must HR students understand key labour events in Canadian history?
What are the biweekly payments : Ha-yoon bought car for $30,000 by making downpayment of $8,700 and biweekly payments at the end of every two weeks for 5 years. What are the biweekly payments
Presentation on the Hemophilia B leyden : Its a short presentation on the topic Haemopholia B lyden where u have to do the phenotypic result of the genetic cause at the cellular and molecular levels
Address diversity and inclusion : Discuss what your company is doing to address diversity and inclusion. Could more be done? What steps would you take to build diversity and inclusion in the wor
Employees during transformational changes : Q1: How much time, effort, and money should firms devote to helping "surviving" employees deal with downsizing? How could they reduce the challenges faced by em
Current demographic and economic trends : Discuss some of the current demographic and economic trends, such as the changing age structure of the population, increased diversity, global economic patterns

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd