User Account

All Pages

What is the total of these last five payments

Assignment Help Finance Basics
Reference no: EM131772628

Sue has obtained a personal loan of $5000 at 13.25% simple interest for 4 years. She paid all the monthly payments except the last five payments, which she wants to pay all at once.

a) What is the total of these last five payments?

b) How much would the bank want her to pay, after revealing that her loan contract carries a pre-payment penalty?

c) How much would that penalty be?

Reference no: EM131772628

Questions Cloud

How much must you remit for the purchase : You purchase the bond on February 1, 2005 at a price to yield 8%. and your broker charges a $25 commission. How much must you remit for the purchase?
Sample means for random samples of adults : Assume that the population average for adults is 6 hours and 57 minutes, or 6.95 hours of sleep per night, with a standard deviation of 2 hours.
Compute the cost of a single unit of product : Compute cost of a single unit of product under both the absorption costing and variable costing approaches. The Dean Company produces and sells a single product
How much would her balance be : She obtained this mortgage at annual interest of 4.5% for 30 years. How much would her balance be?
What is the total of these last five payments : She paid all the monthly payments except the last five payments, which she wants to pay all at once.
Calculate the amount of life insurance linda : Based on the total loss estimation by the "Needs Approach" calculate the amount of life insurance Linda needs to buy, given that the interest rate is 9.5%
Compute the machines internal rate of return : Compute the machine's internal rate of return. Would you recommend purchase of the machine
What proportion of days in typical years have rain : You are interested in knowing what proportion of days in typical years have rain or snow in the area where you live. For the months of January and February.
Value of your retirement plan after : Given a 6 percent interest rate, what is the value of your retirement plan after the 40 years?

Reviews

Write a Review

Finance Basics Questions & Answers

  What five factors do firms consider in establishing dividend

What five factors do firms consider in establishing dividend policy? Briefly describe each of them.

  What is the effective annual rate or ear of the loan

You plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 7.54 percent, compounded daily (with a 365-day year). What is the effective annual rate, or EAR (annual percentage yield), of this loan?

  These bonds make annual payments and mature nine years from

you bought one of rocky mountain manufacturing co.s 8 percent coupon bonds one year ago for 1028.50. these bonds make

  Current policy yearly premium,death benefit,current policy

Morgan is a 32-year-old nurse. She is in good health and has applied for a new cash value life insurance policy. She is interested in knowing whether she should surrender her current policy and purchase the new policy offered through a AAA-rated firm..

  Describe the limitations of the current ratio and quick

describe the limitations of the current ratio and quick ratio as indicators of liquidity. what alternatives are

  Explain how would you rebalance your portfolio between the

assume that you maintain bonds and money market securities in your portfolio and you suddenly believe that long-term

  Share of the company common stock

You are given the following information: Stockholders' equity as reported on the firm's balance sheet = $35 billion, price/earnings ratio = 20.5, common shares outstanding = 12 million, and market/book ratio 2.8. Calculate the price of a share of..

  Determine the cost of this procedure

Search for pricing for an MRI for a 13-year-old female patient complaining of headaches. Determine the cost of this procedure to you and what the cost is to the insurance provider. Do a price comparison against three other facilities offering the ..

  The importance of culturally appropriate health policies

Explain the importance of culturally appropriate health policies. Explain how one can develop a policy so that it gets the support of the community.

  Ebay currently has a beta of one additionally the rate of

ebay currently has a beta of one. additionally the rate of return in the markethas been .12 historically and the risk

  Calculate the amount of money the couple

Calculate the amount of money the couple will need the first year Jazz starts college. Calculate the capital needs of the couple at retirement and the current value of their retirement needs.

  Sales in the month of sale

ABC collects 27 percent of its sales in the month of sale and the remainder is collected in the following month. What is the amount of the February cash collections?

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