User Account

All Pages

What is the size of your monthly payment

Assignment Help Financial Management
Reference no: EM13890439

You need to borrow $22,000 to purchase a new truck. The current loan rate is 7.7% compounded monthly. You decide you want to pay off the loan in equal monthly payments over 4 years. What is the size of your monthly payment?

A. $401.37

B. $442.93

C. $485.26

D. $533.99

Reference no: EM13890439

Questions Cloud

Design- building blocks of an organization : Organizational Culture, Structure, & Design: Building Blocks of an Organization. You made some great points in your post. We all come from different backgrounds its all about becoming one
Lewin and kotter models of change : In this week's reading we have learned about Lewin's and Kotter models of change. One of the Lewin's Model you discussed is unfreezing stage which is initiated through motivation
About how long until you can buy your truck : You have $30,000 in an account earning 4% annual interest compounded monthly. You will need $40,000 to buy your dream truck. About how long until you can buy your truck?
Indicate whether the situation boland faces : Jessica Boland works for Sea Biscuit Co. She and Farah Smith, her manager, are preparing adjusting entries for annual financial statements.
What is the size of your monthly payment : You need to borrow $22,000 to purchase a new truck. The current loan rate is 7.7% compounded monthly. You decide you want to pay off the loan in equal monthly payments over 4 years. What is the size of your monthly payment?
What is the value of your investment five years from today : You deposit $225 into an account which pays 6.5% per year for two years. However, the rate of interest drops to 3.5% thereafter. What is the value of your investment five years from today (assuming annual compounding)?
Why is the salary cost not relevant to calculation : The salary cost of the company's developers is not used in the "good enough" calculation. Why is that cost not relevant?
Portfolio diversification reduces variability of returns : Which of the following statements is correct? Portfolio diversification reduces the variability of the returns on the individual stocks held in a portfolio. Portfolio A has but one security, while Portfolio B has 100 securities.
How many additional dollars of interest : You have $1,000 in an account which pays 5% ANNUAL compound interest. How many ADDITIONAL dollars of interest would you earn over a four year period if you moved the money to an account earning 7%?

Reviews

Write a Review

Financial Management Questions & Answers

  What is the yield to maturity-annual coupon bonds

The 7 percent annual coupon bonds of IPO, Inc. are selling for $1,021. The bonds have a face value of $1,000 and mature in seven years. What is the yield to maturity?

  Serve to reduce the bank''s interest rate risk

Suppose that your bank currently operates with a DGAP of 2.2 years. Which of the following will serve to reduce the bank's interest rate risk? a. Issue a one year zero coupon CD to a customer and use the proceeds to buy a three year zero coupon Treas..

  Firms estimated intrinsic value per share of common stock

You must estimate the intrinsic value of Noe Technologies stock. The end-of-year free cash flow (FCF1) is expected to be $24.00 million, and it is expected to grow at a constant rate of 7.0% a year thereafter. The company’s WACC is 10.0%, it has $125..

  Rate of return will you earn on initial investment in bond

Suppose you purchase a 30-year Treasury bond with a 7% annual coupon, initially trading at par. In 10 years time the bond's yield to maturity has risen to 8% (EAR). (Assume $100 face value bond)  If you sell the bond now, what internal rate of return..

  Using spot and forward exchange rates

Using Spot and Forward Exchange Rates Suppose the spot exchange rate for the Canadian dollar is Can$1.04 and the six-month forward rate is Can$1.06.  Which is worth more, a U.S. dollar or a Canadian dollar?

  Without tax-key condition for equilibrium to occur in market

The key condition for equilibrium to occur in a market is: Without taxes, the market price per bag of apples is $5. With a $2 tax per bag of apples, buyers now pay $5.75 per bag. What is the final price per bag of apples received by sellers?

  What is the sensitivity of the NPV

McGilla Golf would like to know the sensitivity of NPV to changes in the price of the new clubs and the quantity of new clubs sold. The clubs will sell for $825 per set and have a variable cost of $395 per set. The company has spent $150,000 for a ma..

  Pre tax operating costs-initial investment

Kolby’s Korndogs is looking at a new sausage system with an installed cost of $910,000. This cost will be depreciated straight-line to zero over the project’s seven-year life, at the end of which the sausage system can be scrapped for $105,000. The s..

  What is the marginal value of an additional unit of labor

Consider a resource-based economy which can allocate labor (L) to harvest timber (T) or fish (F). Assume the economy faces constant world prices for timber and fish, denoted Pt and Pf, respectively. How should labor be allocated to timber and fish pr..

  What is the percent return on equity

In the year 2007, the average firm in the S&P 500 Index had a total market value of fives times stockholders’ equity (book value). Assume a firm had total assets of $10 million, total debt of $6 million, and net income of $600,000. What is the percen..

  Evaluate the financial condition of the company

Suggest the financial ratio that most financial analysts would use to evaluate the financial condition of the company. Provide support for your rationale. Speculate on the organization's ability to meet its financial obligations as they come due. Pro..

  The objectivespurpose of the research paper project are to

the objectivespurpose of the research paper project are to enable you to do a comprehensive financial analysis of a

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