What were her total interest charges

Assignment Help Financial Management
Reference no: EM131991146

Mel Blanc bought a new dining room set for $6,600. Mel put down $1,000 and financed the balance at 12% in a revolving credit account paying $300 a month. Show the monthly changes to her balance,. How many months did it take her to pay it off. What were her total interest charges ? Be sure to set up a table with the values in excel.

Reference no: EM131991146

Questions Cloud

Find the intrinsic value of these bonds : These bonds can be called away in 2 years at a 4% premium. Find the intrinsic value of these bonds.
What is the financial break-even level for project : You are considering investing in a company that cultivates abalone for sale to local restaurants. What is the financial break-even level for the project?
What is the cash collected in july : Consider a company that has sales in May, June, and July of $10.5 million, $12.5 million, What is the cash collected in July?
What is the cumulative net cash flow for march : What is the cumulative net cash flow for March?
What were her total interest charges : Mel Blanc bought a new dining room set for $6,600. What were her total interest charges ?
Engineering firm realizes that new machine : An engineering firm realizes that a new machine will be needed in five years.
Would company prefer to use macrs : Would a company prefer to use MACRS or straight line depreciation. Be sure to justify your position.
What is the discounted payback period of the project : what is the discounted payback period of the project? If the required payback period is 3 years, should you accept it?
What is the annual cost of owning the excavator : What is the annual cost of owning the excavator? What is the future cost 6 years from now?

Reviews

Write a Review

Financial Management Questions & Answers

  What is this projects equivalent annual cost or eac

A five-year project has an initial fixed asset investment of $340,000, an initial NWC investment of $36,000, and an annual OCF of −$35,000. The fixed asset is fully depreciated over the life of the project and has no salvage value. If the required re..

  Information on the interest rate sensitivity

The ALCO has obtained the following information on the interest rate sensitivity of your bank:

  What interest rate is the bank advertising

What Interest rate is the bank advertising (what is the rate of return of this Investment)?

  Installs home and business security systems

The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer Co. sells and installs home and business security systems. Jan. 3. Loaned $14,400 cash to Trina Gelhaus, receiving a 90-day, 9% no..

  Present value discounting techniques to value the building

In the year 2015, Century Inc. forecasts that a rental apartment building will generate $5.3 million each year in rent over the five years 2016-2020. Cash expenses are expected to be $4.2 million a year. At the end of 2020, the building is expected t..

  Total interest earned and future value

How much total interest is earned on the original deposit? How much is interest earned on interest?

  What is the new price of the bond

A company issues a ten year $1,000 value bond at par with a coupon rate of 6.1% paid semiannully. What is the new price of the bond?

  Ganado and equity risk premiums

Ganado and Equity Risk Premiums. Maria Gonzalez, Ganado's Chief Financial Officer, estimates the risk-free rate to be 4.00% is 4.20%,

  What is the net income expected on the new sales

Price Corp. is considering selling to a group of new customers and creating new annual sales of $50,000. It is estimated that 5% of these new sales will be uncollectible. The collection cost on these accounts is 3.5%, the cost of producing and sellin..

  Financial statements for george weston limited

identify an example from the financial statements for GWL provided which demonstrates your knowledge for:

  Capital gains be if you sell the stock in three years

You have just purchased the stock of Mature Company, which is expected to pay dividends of $1.03 next year. The company just paid dividends of $1. This growth rate is expected to continue indefinitely. You require a 10% return on your investment. Wha..

  What is the price of company bond

Smith’s company is selling a bond with the following features: 5 years to maturity, face value of $1000, coupon rate of 2% (semiannual coupons) and yield to maturity of 4% APR. What is the price of Smith’s company bond?

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