What would be the apr for an auto loan

Assignment Help Financial Management
Reference no: EM131582345

First America Bank’s monthly payment charge on a 48-month $20,000 loan is $538.26. The U.S. Bank’s monthly payment fee is $547.70 for the same loan amount. What would be the APR for an auto loan for each of these banks? (Do not round intermediate calculations. Round your final answers to the nearest tenth percent.)

Reference no: EM131582345

Questions Cloud

Calculate the monthly rent for art : Art Neuner, an investor in real estate, bought an office condominium. Calculate the monthly rent for Art.
Dollars on the forward market transaction : what would the gain or loss have been in U.S. Dollars on the forward market transaction?
What coupon rate should the company set on its new bonds : GN Supply wants to issue new 10-year, $1,000 face value bonds at par. What coupon rate should the company set on its new bonds?
Define the annual interest rate : What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $84,000 in six years?
What would be the apr for an auto loan : What would be the APR for an auto loan for each of these banks?
Rotary engine powers vertical takeoff and landing : A rotary engine powers a vertical takeoff and landing (VTOL) personal aircraft known as the Moller Skycar M400.
Present value-what price of car can you afford : You are looking to buy a car. You can afford $680 in monthly payments for five years. what price of car can you afford?
What is the price of european call with same strike price : Suppose that a stock paying no dividends in trading at $21.5 a share. What is the price of a European call with the same strike price and exercise date?
What would appropriate tax rate : What would the appropriate tax rate be for use in the calculation of the debt component of LilyMac’s WACC?

Reviews

Write a Review

Financial Management Questions & Answers

  Non-current assets were all land no new capital was raised

ABC international has the following summarised statement of financial position at 31 December 20X1: Non-current assets 2000, inventories 300, receivables 500, cash 200, payables 1000. What cash balance in one year’s time would this imply if the non-c..

  About the current share price

Bayou Okra Farms just paid a dividend of $3.30 on its stock. The growth rate in dividends is expected to be a constant 6 percent per year indefinitely. Investors require a return of 15 percent for the first three years, a return of 13 percent for the..

  What should be the value of the put

if the effective annual risk-free rate of interest is 6% and there are four months until expiration, what should be the value of the put?

  How much of the dividend payment did marathon deduct

How much of the dividend payment did Marathon deduct in determining its taxable income. - how much tax will he pay on the $5,000 dividend he received from Marathon Inc.

  Examine the decision metric profit margin

Compare the decision metrics NPV & IRR for the "no recovery of NWC" and "recovery of NWC" scenarios, stating which scenario best captures reality. Based on your answer, give the project a green or red light.

  Npv of the sport hotel project to be equal to exactly zero

What must the new worth of the hotel when the franchise is granted be in order for the NPV of the Sporthotel project to be equal to exactly zero?

  Equity financing will be needed to expand operations

Red Shoe Co. has concluded that additional equity financing will be needed to expand operations

  Change in bond price bond

A 5.55 percent coupon bond with ten years left to maturity is priced to offer a 7.0 percent yield to maturity. You believe that in one year, the yield to maturity will be 6.0 percent. What is the change in price the bond will experience in dollars?

  Calculate return on common equity and times interest earned

The balance sheet for Schultz Bone Company.- Calculate Return on assets, Return on total equity, Return on common equity and Times interest earned.

  What does interest rate imply expectations of uk inflation

What does this imply about expectations of UK inflation and Canadian inflation? What do these inflationary expectations suggest about future exchange rates?

  Mature companies with relatively predictable earning

If you were analyzing the consumer goods industry, for which kind of company in the industry would the constant growth model work best? Mature companies with relatively predictable earning

  What was the cash flow to stockholders for the year

The December 31, 2013, balance sheet of Schism, Inc., showed $153,000 in the common stock account and $2,780,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed $163,000 and $3,080,000 in the same two accounts, ..

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