What is the apr of the loan

Assignment Help Financial Management

Reference no: EM132071476

You have arranged for a loan on your new car that will require the first payment today. The loan is for $39,500, and the monthly payments are $700. If the loan will be paid off over the next 71 months, what is the APR of the loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Reference no: EM132071476

Questions Cloud

Company has debt outstanding with face value : Your company has debt outstanding with a face value of 6 million dollars. What explains this difference?

What are indirect costs of satisfying funding : What are the indirect costs of satisfying funding needs through an equity issue? risk of bankruptcy.

Identical in every way except for their capital structures : Levered, Inc. and Unlevered, Inc. are identical in every way except for their capital structures.

Costs of satisfying funding needs through debt issue : the direct cost of that are the interest payments to creditors. What are indirect costs of satisfying funding needs through a debt issue?

What is the apr of the loan : The loan is for $39,500, and the monthly payments are $700. If the loan will be paid off over the next 71 months, what is the APR of the loan?

What were the digby corporation retained earnings : What were the Digby Corporation's retained earnings?

What is the average receivables balance : What is the average receivables balance? What is the receivables turnover? Should Maddox Resources offer the discount?

The production of tile for the home-building industry : Sinclair Manufacturing and Boswell Brothers Inc. are both involved in the production of tile for the home-building industry.

What is the number one job of management in company : What is the number one job of management in a company? Do you believe the Shareholders are happy with their returns?

User Account

All Pages