What is effective annual rate on this loan

Assignment Help Financial Management
Reference no: EM132058313

You want to buy a new sports coupe for $79,500, and the finance office at the dealership has quoted you an APR of 6.1 percent for a 72 month loan to buy the car.

What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Monthly payment $   

What is the effective annual rate on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Effective annual rate %

Reference no: EM132058313

Questions Cloud

Describe the life cycle of a monkey : Describe the life cycle of a monkey. How does DNA get transferred to the baby monkeys include mitosis?
What general type of lifecycle is chlamydomonas : What general type of lifecycle is chlamydomonas? Is it a Haploid adult or Diploid Adult, etc?
Calculate the firm operating return on assets : Calculate the firm's operating return on assets and return on equity. (Hint: You can assume that interest must be paid on all of the firm's liabilities.)
Identify the major themes that the author uses in the poem : What is your reaction to the poem? What about our society/your experience do you think brings you to that reaction?
What is effective annual rate on this loan : What is the effective annual rate on this loan? What will your monthly payments be?
What is the profitability index for an investment : What is the profitability index for an investment with the following cash flows given a 8 percent required return? The response must be typed.
Problematic to energy production : Why would a lack of NADH be problematic to energy production?
Determine whether partnership exists : Explain the tests that determine whether a partnership exists.
What is the expected present value of cynthia cash flow : The rate of interest on default risk-free investments is 8%. Required: What is the expected present value of Cynthia Bennett' cash flow

Reviews

Write a Review

Financial Management Questions & Answers

  Standard deviation of return on your client portfolio

What is the expected return and standard deviation of return on your client’s portfolio?

  Just-in-time inventory system is designed to reduce

The just-in-time inventory system is designed to reduce the inventory period. In essence, companies pay their suppliers to carry the inventory for them. Reducing the inventory period reduces the operating cycle and thus the cash cycle. This reduces t..

  Relatively normal economic time

You are a bond trader and the year is 2005 (i.e. a relatively ‘normal’ economic time). You are convinced that the Fed is going to make a major announcement at their next meeting. what types of bonds do you want to shift your portfolio to? In other wo..

  Working capital cash flow cycle and cash conversion cycle

Calculate Strickler's cash conversion cycle. What would Strickler's total assets turnover have been if the inventory turnover had been 8 for the year?

  Is your portfolio less risky or more risky than the market

Your portfolio is diversified. It has an expected return of 11% and a beta of 1.10. You want to add 200 shares of Tundra Corporation at $40 a share to your portfolio. Tundra has an expected return of 13.0% and a beta of 1.50. The total value of the i..

  Concerning powers of invasion

Which of the following statements concerning powers of invasion are correct? A five-and-five power may be added to a nonmarital trust without the trust assets being includible in the surviving spouse’s gross estate. The surviving spouse need not be g..

  Define consumer credit application

Define a consumer credit application and explain the aspects that should be considered to differentiate between consumer credit application

  Ownership interest with bonuses to the existing partners

S. Pagan and T. Tabor share income on a 6 : 4 basis. They have capital balances of $120,000 and $70,000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the f..

  What is the required rate of return on the firm stock

What is the required rate of return on the firm’s stock?

  What is the estimated value of brushy mountains stock

Brushy Mountain Mining Company's coal reserves are being depleted, so its sales are falling. Also, environmental costs increase each year, so its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate o..

  Transfer of value from old shareholders to new shareholders

What is the price of Consolidated stock? What will be the transfer of value from the old shareholders to the new shareholders?

  Create a line chart to show the companys performance

Create a line chart to show the company's performance for profit margin over the last three year period Appropriately label and title the chart.

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