What is the effective annual interest rate on loan

Assignment Help Financial Management
Reference no: EM131930777

Assume you take out a car loan of $7,300 that calls for 60 monthly payments of $170 each.

a. What is the APR of the loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Use a financial calculator or Excel.)

APR %

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

EAR %

Reference no: EM131930777

Questions Cloud

Four contingency theories of leadership : As a leader, a person must be adaptable to leading individuals who are different in terms of their personality, motivation, experience
Companies or an exception to the rule : 1. Is this common situation for most companies or an exception to the rule?
What would be the beta of your portfolio : We Do Bankruptcies is a law firm that specializes in providing advice to firms in financial distress. What would be the beta of your portfolio?
Violate semi-strong form efficient market hypothesis : Show five examples that violate Semi-strong form efficient market hypothesis.
What is the effective annual interest rate on loan : What is the APR of the loan? What is the effective annual interest rate on the loan?
Write on effects of cultural diversity on future generation : Write a paper about Effects of Cultural Diversity on Future Generation. The paper should be in APA format. The paper typed, double-spaced, 12pt font, Times.
What can a company do to stretch out time to pay : What can a company do to stretch out "time to pay"? What are positive and negative ramifications to supply chain in stretching out "time to pay
Additional annual savings needed : How much money will they have accumulated 30 years from now? how much extra do they need to save every year?
What do you think of the effectiveness of online marketing : What do you think of the effectiveness of online marketing? How could the firms use online marketing channels to gain competitive advantages?

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

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