What is the monthly payment for the loan

Assignment Help Finance Basics
Reference no: EM13781275

Home purchase

You find that a small business loan in the amount of 50,000 is the amount you need to purchase the restaurant location. After researching banks to find the best interest rate, you find that banks for small businesses offer the best interest rate of 9% interest that compounds monthly for 7 years

Should use PMT etc.

What is the monthly payment for this loan?

Show the formula that you used and the values used for each variable to calculate the monthly payment.

What is the unpaid balance of the loan at the end of the 1st year?

Show the formula that you used and the values used for each variable to calculate the unpaid balance at the end of the 1st year.

What is the unpaid balance at the end of the 6th year? Show the formula that you used and the values used for each variable to calculate the unpaid balance at the end of the 6th year.

Reference no: EM13781275

Questions Cloud

Importance of healthy sleep hygiene : The importance of healthy sleep hygiene in optimal functioning. The effects of sleep deprivation on daily functioning.
Do they have a contract : Beta Inc. offers to buy 25 screwdrivers from Industrial Hardware for $75. Industrial responds, "We have the screwdrivers you wish to purchase, but the price is $80." Beta replies, "No, we can find them cheaper somewhere else." Industrial now respo..
About html : Hyper Text Markup Language.
Potentially demonstrating a psychopathology : This character must be an individual who you believe or has been diagnosed as having a psychological disorder. You will need to talk a little bit about the character and their behavior. What in their behavior makes you assess them as potentially d..
What is the monthly payment for the loan : What is the monthly payment for this loan. Show the formula that you used and the values used for each variable to calculate the monthly payment.
How would you package the thumb drive : How would you package the thumb drive for shipment to the lab? Be specific as to what materials you would use, and why - what would you ask the lab to look for on the submitted thumb drive, and why?
Wriyte an essay about the multiple meaning of family : Wriyte an essay about the multiple meaning of family.
Effect of fear-aggression-nervous system : Explain the role of the nervous system. Describe the effect of fear, aggression, or anxiety on the specified behavior.
Briefly define consideration and explain why it is important : Briefly define consideration and explain why it is important. Briefly identify and describe 2 advantages and 2 disadvantages of public corporations versus private closely held corporations

Reviews

Write a Review

Finance Basics Questions & Answers

  Understanding the views of others help

What new information or insight into your topic did you gain? How does understanding the views of others help shape your own views?

  What must flora show to recover damages from fast delivery

What must Flora show to recover damages from Fast Delivery?

  What is internal rate of return

Project cost $23 million, generate cash flows $14,000,000, $11,750,000 and $6350,000 over next 3 years. Cost of capital is 20%. what is internal rate of return?

  Calculate earnings per share

Southland Industries has $60,000 of 16 percent bonds outstanding, 1,500 shares of preferred stock paying an yearly dividend of $5 per share, and 4,000 shares of common stock outstanding.

  What does svar with premium risk consist of

What does SVAR with premium risk consist of? Compare and contrast.

  Business ethics by maryann haggerty

Explain your stance on this issue. Choose one other issue that caught your interest in the article. Explain how this issue is important in increasing ethical behavior in the corporate business environment.

  Calculate the present and future value

Calculate the present value of a $100 cash flow for the following combinations of discount rates and times:

  Identify two financial intermediaries what are their

identify two financial intermediaries. what are their respective functions? what are their major roles in the

  What will the price be in five years and in fourteen years

Anton, Inc., just paid a dividend of $2.85 per share on its stock. The dividends are expected to grow at a constant rate of 4.5 percent per year, indefinitely. Assume investors require a return of 10 percent on this stock.

  Tam company is negotiating for the purchase of equipment

tam company is negotiating for the purchase of equipment that would cost 100000 with the expectation that 20000 per

  Efficient frontier

Create a reasonable, but hypothetical, graph that shows risk, as measured by portfolio standard deviation, on the X axis and expected rate of return on the Y axis.

  How much is the expected total variable cost on the august

Materials and labor are the only variable costs. If production and sales are budgeted to increase to 150 chairs in August, how much is the expected total variable cost on the August budget?

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