What nominal annual interest rate is being paid

Assignment Help Econometrics

Reference no: EM13222348

Your cousin has just bought a used car for $6000.He is to pay for it as follows.A $2,000 down payment and 24 end of month payments of $177.28.What nominal annual interest rate is being paid?What is the actual interest rate?

Reference no: EM13222348

Questions Cloud

Case calveta dining : The Challenges of "Antonio's Way" - basic goals, often referred to as the backbone of "Antonio's Way," were posted in Calveta's offices and displayed in its annual reports

Calculate the gdp using the expenditure and income approach : Assume that all income is either employee compensation or profits and there are no indirect taxes.Calculate the GDP using the expenditure and the income approach using the flowing figures:Consumption -5,000 , Investments- 1,000, Depreciation -600 ..

Explain what is the pressure of the air inside the raft : not enough air is pumped into a raft to completely fill it out. the atmospheric pressure is 14.7 psi. what is the pressure of the air inside the raft?

Explain what quanitity of energy does it take to convert : what quanitity of energy does it take to convert 0.500kg ice at -20 Celsius to steam at 250 celsius? specific heat capacities: ice, 2.03J/g Celsius

What nominal annual interest rate is being paid : Your cousin has just bought a used car for $6000.He is to pay for it as follows.A $2,000 down payment and 24 end of month payments of $177.28.What nominal annual interest rate is being paid What is the actual interest rate

Compute the ph of an aqueous solution prepared to contain : Calculate the pH of an aqueous solution prepared to contain 1.3 x 10^-3 M sodium nitrite (NaNO2) if the acid dissociation equilibrium constant, Ka, for nitrous acid (HNO2) is 5.1 x 10^-4.

Find what is the nominal annual interest rate being charged : The local Toyota dealer is offering special financing on its new hybrid cars.The cost of the car is $30,000.The financing is as follows: cost of the car=$30,000 3 years interest 1%=$900.00 (3(0.01)(30,000)) Total=$30,900Down payment=$3,000 36 end of..

Explain hydroxide ion reacts directly with h+ : Use Le Chatelier's Principle and the weak acid dissociation equilibrium to explain how the addition of NaOH will completely neutralize an unknown weak acid at the equivalence point in a titration. Consider that hydroxide ion reacts directly with H..

What quantities of cars and grain does each country produce : American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that each country has 100 million wor..

User Account

All Pages