User Account

All Pages

What is the loan outstanding after 1 year

Assignment Help Business Management
Reference no: EM132978849

The second file is for a client named Toomes, who also has a mortgage with the bank. The details you can gather for Toomes' loan are as follows:

-Current loan outstanding: $356,000

-Current monthly repayment: $1220

-Next repayment: Due exactly 1 month from now

-Interest rate on loan: ??12=i12=3.5%

Using this information, determine the following:

How much interest is Toomes charged for the coming month? Do NOT include a dollar sign in your answer.

What will be Toomes' loan outstanding after 1 month, immediately after the payment due on that day? Do NOT include a dollar sign in your answer.

What is the loan outstanding after 1 year? Give your answer to the nearest cent, and do NOT include a dollar sign.

Reference no: EM132978849

Questions Cloud

Fundamental role in scoring techniques : Why does the financial expense/EBITDA ratio play such a fundamental role in scoring techniques?
Find investments with positive net present value : A company's sales clearly represent a source of funds. However, they do not appear on the balance sheet. Why?
Advantage of short-term discrepancies : -Discuss how this might be identified and what type of trader might be able to take advantage of these short-term discrepancies.
Why people keep taking time deposits : Can you explain me this: Last week a bank in the plaza offered a monthly interest rate of 0.02%. Explain why the rate is so low and why people keep taking time
What is the loan outstanding after 1 year : The second file is for a client named Toomes, who also has a mortgage with the bank. The details you can gather for Toomes' loan are as follows:
How much principal has alexei repaid over the last year : The third file is for a client named Alexei. Alexei took out a personal loan exactly one year ago with Harrison Bank. From his file, you have noted the followin
What is the target stock price : For gain a better understanding of stock variation and PE, consider that you have found the following historical information for the Daniela Company:
What is the new equity value after the project : AT is considering a new investment project. The project requires a permanent increase of PPE of 100M, starting from FY T+1 (the year when the new investment is
Assess the current risk-return relationship : Assess the current risk-return relationship of each of the three securities (Equity securities, Debt securities, and derivative securities). Provide sources.

Reviews

Write a Review

Business Management Questions & Answers

  Organisation human resource management policies

Work cooperatively with the human resource department torecruit and select the best employees for the job

  Implementation of performance evaluation

The implementation of performance evaluation methods is an ongoing process that aids the marketing department in determining the success of its current programs

  Discuss the supervisor duty to take appropriate

Discuss the supervisor's duty to take appropriate action when accounting reports indicate that expenditures are significantly above or below budget allocations.

  Very proactive in equal pay for women in today workplaces

President Obama has been very proactive in equal pay for women in today's workplaces. Each fall, companies file an EEO-1 document. Beginning soon, that document will need to include additional information related to pay based on genders.

  Explain the reason for selecting given topic

Explain the reason for selecting topic one, identify the audience, and provide a preliminary thesis statement. Recognize the elements use of a thesis statement.

  Indifferent between accepting the project and rejecting

A project that will provde annual cash flows of $2,350 for nine years costs $9,700 today. a.At a required return of 12 percent, what is the NPV of the project?

  Maintain an inventory of products

Traditional retailers spend a considerable amount of money to maintain an inventory of products and provide salespeople to service in-store customers. explain whether or not the practice of showrooming is unethical. What can retailers do to respon..

  Role of power in an organization

How does the ways in which a manager uses power affect subordinates and why is conflict both good and bad for an organization, and what are the main conflict resolution strategies?

  Find common ground for the perpetuation

How both the clinical and administrative houses can find common ground for the perpetuation of health care, whether it's a state funded

  Implement feedback for a mentorship program

How can you receive and implement feedback for a mentorship program? Please explain.

  Description of health care management

Whether third party payers reimburse at the same level for services rendered by psychiatrists and psychologists and psychologists' concerns about reimbursement levels from third party payers

  How a smaller company could benefit from utilizing the rule

Describe how a smaller company could benefit from utilizing the 100% rule. In your opinion, would it be effective for smaller organizations to utilize this rule?

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