User Account

All Pages

What would monthly payments to bank be now for hak young

Assignment Help Financial Accounting
Reference no: EM132998057

Hak Young is daunted by that monthly payment amount and is trying to figure out how he can make paying off his loan more manageable. He went to his bank and found out he could get a personal loan that he could then use to pay off his credit card. The personal loan has an interest rate of 9% compounded monthly.

Problem 1: Assuming he still planned to pay off his debt in 5 years, what would his monthly payments to the bank be now?

Problem 2: What will be the total interest paid?

Reference no: EM132998057

Questions Cloud

Explain the meaning of corporate governance : Explain the meaning of corporate governance? What are the primary objectives of implementing corporate governance mechanism? Support your answer with example
Find what would harsh monthly loan payments have to be : The interest charged on the loan is about 4.5%. What would Harsh's monthly loan payments have to be in order to achieve his goal?
What is one technology : -Besides biotechnology, What is one technology that seems to have the greatest potential positive effect on food security. Are there any potential negative uses
Prepare the journal entries for the original subscription : Prepare the journal entries for the original subscription, the collection of the down payments, the collection of the balance of the subscription price
What would monthly payments to bank be now for hak young : Hak Young is daunted by that monthly payment amount, Assuming still planned to pay off his debt in 5 years, what would his monthly payments to the bank be now?
What would hak young minimum payment have to be : With all conditions of the account being the same as before, what would Hak Young's minimum payment have to be in order to pay off his debt in 5 years?
How much will hak young trip have truly cost : Hak Young is tired at the end of the semester. How much will Hak Young's trip have truly cost him by the time he can start to pay it off?
How much will the weekly care loan payment be : How much will he have paid to the dealership by the time his loan is paid off? How much will his weekly care loan payment be?
How much will anna have at the end of four year investment : Anna wants to travel after graduation but she isn't working while in school. How much will Anna have at the end of her four year investment?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Will the estimate of the cost of equity

Will the estimate of the cost of equity using the dividend discount model by the same as the determined using the capital asset pricing model? Explain.

  Discuss what knowledge of these areas an auditor possess

Client’s position within the market. Give examples of risk that could be present and discuss what knowledge of these areas an auditor should possess

  What the present value of the price of the bond is

The present value factor for 5% at 12 periods is 0.5568. The present value of the price of the bond rounded to the nearest whole dollar is

  Calculate the nominal annual cost of nonfree trade credit

Calculate the nominal annual cost of nonfree trade credit under each of the following terms. Assume that payment is make either on the discount date.

  Identify errors in the statement of changes in equity

Identify 5 errors in the Statement of changes in equity below and explain why in detail. Statement of Changes in Equity, NOBEL MUSIC CONSULTING

  Determine the estimated before-tax rate of return

A heat exchanger is being installed as part of a part of a plant modernization program. It costs $80,000, including installation, and is expected to reduce the overall plant fuel cost by $20,000 per year. Estimates of the useful life of the heat exch..

  Total service department charges

Division T reported income from operations of $875,000 and total service department charges of $575,000.

  What could be causing unfavorable labor quantity variance

What circumstances, if any, can the responsibility for each variance be placed on the purchasing department and the production department?

  What range of measures is used to determine amounts

Compare the measures used by the different companies for similar items. Are there any inconsistencies in how similar items are measured.

  Balance sheet for the toy business

Prepare an income statement and a balance sheet for the toy business as at June 30.

  What is the market value of the firms assets

Lew’s Auto Repair has cash of $18,600, accounts receivable of $34,500, accounts payable of $28,900, inventory of $97,800, long-term debt of $142,000, and net fixed assets of $363,800. The firm estimates that if it wanted to cease operations today it ..

  How is information reported in the organization statement

How is this information reported in the organization's statement of activities for 2020? At the beginning of 2020, a donor gives a private NFP organization

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd