What is the amount of monthly payment

Assignment Help Finance Basics
Reference no: EM132022867

Mr. Rockford wants to borrow $3,450,000. The Rogers Park State Bank requires the loan to be repaid in equal installments, paid at the end of each month for 24 years. If the interest rate is presented as an effective annual rate (EAR) of 6.421594%, what is the amount of each monthly payment?

Reference no: EM132022867

Questions Cloud

What is the stock expected price four years from today : If its required return is 14%, what is the stock's expected price 4 years from today?
What is the value of the original assets : Prior to the expansion, what is the value of the original assets? Equity? Find the stock price.
Annual weighted average cost of capital : The firm's marginal income tax rate is 25%. What is its annual weighted average cost of capital (kA or WACC)?
How do you benefit indirectly from our wetlands : For this reflective essay, I would like you to write 4 to 5 paragraphs reflecting on your use of wetlands. Perhaps you grew up near wetlands or regularly.
What is the amount of monthly payment : If the interest rate is presented as an effective annual rate (EAR) of 6.421594%, what is the amount of each monthly payment?
What is its required return : Since analysts estimate Paccar will have an 15.8 percent growth rate, what is its required return?
What are the factors that influence soil erosion : Observe the soils around where you live. What are the factors that influence soil erosion (both positive and negative) around you?
Start of every three-month period : Ms. Peoria deposits $4,800 into her account at the start of every three-month period (quarterly) for 17 years. If the Oak Lawn Mutual Fund pays interest
What is the standard deviation of eps : There are 100 common shares outstanding. What is the standard deviation of EPS?

Reviews

Write a Review

Finance Basics Questions & Answers

  Cortez art gallery is adding to its existing buildings at a

cortez art gallery is adding to its existing buildings at a cost of 2 million. the gallery expects to bring in

  What is the accounting treatment if the foreign entity

What is the accounting treatment if the foreign entity’s currency is the functional currency?

  Show the balance sheet of bank

Bank X currently has $ 500 million in transaction deposits on its balance sheet. The Federal Reserve has set the reserve requirement at 10% of transaction.

  Change in economic conditions

You also think that the projects will not be funded until the WACC has increased, and their cash flows will not be affected by the change in economic conditions. Under these conditions, which of the following statements is CORRECT?

  A company wants to have 40000 at the end of a five-year

a company wants to have 40000 at the end of a five-year period through investment of a single sum now. how much needs

  What is the npv of this project and should you buy the oven

FIN 610- Find another company's 10k and see if it looks differently than GE. Can you identify revenues? Net income? Anything unusual here for this company? What is the NPV of this project? Should you buy the oven? Assume 10% interest rate.

  What is present value and future value

An investment pays you $100 at the end of each of next 3 years. the investment will then pays you $200 at the end of 4,$300 at the end of 5, and $500.

  Determining the marginal corporate tax

Now assume ABC and XYZ each pay a 20% marginal corporate tax, and Richard pays a 15% tax on dividends. Repeat a) and b). How is the outcome different than in a), b), and c)? Explain. Which firm would Richard prefer to invest in? Why?

  Much interest will you have earned in two yrs

You will deposit $600 at the end of each month for next 12 months also $800 each month for the subsequent12 months.

  Icome statementsyear ended december 31 20x8nbspnbspinsure

income statementsyear ended december 31 20x8nbspnbspinsure co.go-med co.sales39000001560000other

  A municipal bond has 8 years until maturity

A municipal bond has 8 years until maturity and sells for $3,771. If the coupon rate on the bond is 4.24 percent, what is the yield to maturity? (Round your answer to 2 decimal places. Omit the "%" sign in your response.)

  Develop computer program that can maintain current status

Develop a computer program that can be used to maintain the current status of all active contracts of a construction rum.

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