What will be the loans ear

Assignment Help Finance Basics

Reference no: EM13279627

You want to buy a car, and a local bank will lend you $20,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 12% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR?

Reference no: EM13279627

Questions Cloud

Compute earnings per share for the year 2010 : Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 20 percent. Compute earnings per share for the year 2009. Compute earnings per share for the year 2010.

Find the induced emf to the infinitely long wire : The 1 m long wire is oriented perpendicularly to the infinitely long wire, and the end closer to the infinitely long wire is located 0.5 m from it. Find the induced EMF. Hint: solving the problem requires integration.

What is the annual savings : what is the annual savings? (use a 360 day year and remember that first, you have to calculate the daily expenditure.)

How much ice needs to be added to your cooler : As an eager scientist on a hot summer day you wish to determine how much ice to buy to add to your cooler which is filled with 36 cans of soda which are warm at 81.7Â°F. how much ice needs to be added to your cooler

What will be the loans ear : You want to buy a car, and a local bank will lend you $20,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 12% with interest paid monthly. What will be the monthly loan payment? What will be the..

Describe the production of antibodies : Why does fermentation preserve foods and why would a farmer purchase Rhizobium? Bacillus thuringiensis - most of the world's population relies on wheat for food.

What is the density of the gas in this geiger tube : A geiger-muller tube is a type of gas-filled radiation detector. It can detect particles like X-rays, alpha particles and beta rays (electrons). what is the density of the gas in this geiger tube

What is the magnitude of the current in the 3-turn loop : A very long, tightly-wound solenoid has a circular cross section of radius r = 2.6 cm . The magnetic field outside the solenoid is negligible. Throughout the inside of the solenoid the magnetic field B is uniform, out of the page as shown, but var..

Explain why an options calculated price may not be the same : Explain why an options calculated price may not be the same as its actual market price?

User Account

All Pages