What is the unpaid principal

Assignment Help Business Economics

Reference no: EM13898841

A $25,000 bank loan is to be repaid in equal yearly payment over 15 years at an effective annual interest rate of 7%. You did the calculation and found that your annual payment is $2745. What is the unpaid principal after you made your 8th payment?

$16,390

$14,793

$13,084

$11,254

Reference no: EM13898841

Questions Cloud

What acceleration is experienced by people remaining at rim : A space station shaped like a giant wheel has a radius of 114m and, when empty, a moment of inertia of 5.84E+8kgm^2. A crew of 163 are living on the rim, and the station's rotation causes the crew to experience an acceleration of 1.00g. 0 When 134..

Identify potential causes of the violence : 1. Define the problem- of why there are incidences of conflict and/or violence in premarital relationship. 2. Identify potential causes of the violence in premarital relationships.

Describe the objectives and main elements of a cirt plan : Describe the objectives and main elements of a CIRT plan and analyze the manner in which a CIRT plan fits into the overall risk management approach of an organization and how it supports other risk management plans.

Victim and suspect typologies scenario : Based on the first suspect’s interview regarding the battery incident and understanding the trends in crime from your lesson, determine how the suspect fits the trends that have been observed. Identify any ways that the suspect does not fit those tre..

What is the unpaid principal : A $25,000 bank loan is to be repaid in equal yearly payment over 15 years at an effective annual interest rate of 7%. You did the calculation and found that your annual payment is $2745. What is the unpaid principal after you made your 8th payment?

Determine the maximum shear strain gmax : A solid circular bar of diameter d 1.5 in. is subjected to an axial force P and a torque T (see figure). Strain gages A and B mounted on the surface of the bar give readings εa = 100*10-6 and εb = 55*10-6. The bar is made of steel having E= ..

Return on the investment is desired : M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 11.45% with bond interest payable semi annually. Six years ago, $829 was paid for the bond. At least a 12% return (yield) on the investment is desired..

User Account

All Pages