If an outstanding balance owing of $15,000 was paid early with $13,000, how early was the loan re paid (in months) if money is worth 5 94 compounded quarterly Provide your final answer with six (6) decimal places Answer What nominal annual rate (NOM2), compounded semi annually is equivalent to NOM...

To calculate the time it took to repay the loan early we can use the formula for the future value of ...

If an outstanding balance owing of $15,000 was paid early with $13,000, how early was the...

Fantastic news! We've Found the answer you've been seeking!

Question:

If an outstanding balance owing of $15,000 was paid early with $13,000, how early was the loan re-paid (in

Related Book For answer-question

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

ISBN: 978-1337614689

9th edition

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

See More Books

Posted Date: Dec 20, 2023 01:05 AM

See More Questions

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
a. Determine IC and VCE for the network of Fig. 4.115. In Figure 4.115 b. Change Î² to 120 (50% increase), and determine the new values of lC and VCE for the network of Fig. 4.115. c....
The melting point of francium is 27C. What is this temperature in degrees Fahrenheit?
Three years ago, Jerry purchased a co-op. This year his monthly maintenance fee is $1,397. Twenty percent of this fee is for Jerrys property taxes. How much will Jerry pay this year in property taxes?
Consider a parallel-plate capacitor with charge $+q$ on the top plate and $-q$ on the other, and a plate area that is large relative to the separation distance. Contrast this with a spherical...
A profitable company making earthmoving equipment is considering an investment of $100,000 on equipment that will have 5-year useful life and a $20,000 salvage value . If money is worth 10%, which...
Kericho Sports Club has been operating for some time now. The treasurer analysed the cash book and produced the following Receipts and Payments account for the year ended 31st Dec. 2018. Receipts...
Belltown Athletic Supply (BAS) makes game jerseys for athletic teams. The F. C. Kitsap soccer club has offered to buy 100 jerseys for the teams in its league for $15 per jersey. The team price for...
The diagram shows two plates held together by a 10 mm bolt (which can be assumed to have an effective diameter of 9.5 mm. The bolt is tensioned to 20 KN and subjected to a shearing force by the...
Write a polynomial f(x) that satisfies the given conditions. Express the polynomial with the lowest possible leading positive integer coefficient. Polynomial of lowest degree with lowest possible...
Solve the following quadratic-like equation. (y - 3) + 8(y - 3) - 9 = 0
Under the insurance contractual provision of Coinsurance for property coverage, calculate the amount that the insurance company would pay in the following case (no deductible applies). Building has...
The relevant range for Maxco Industries is 10,000 to 16,000 units of product. The variable costs per unit are $5.5 when a company produces 11,000 units of product. What are the varialive costs per...
Solve the equation. 20+16=-4(8x-9)
Information concerning Ayayai Corporation's intangible assets is as follows . On January 1, 2020, Ayayai signed an agreement to operate as a franchisee of Hsian Copy Service, Inc. for an initial...
Horse serum containing specific antibody to snake venom has been a successful approach to treating snakebite in humans. How do you think this anti-venom could be generated? What are some advantages...
Effective financial statement analysis requires an understanding of a firms economic characteristics. The relations between various financial statement items provide evidence of many of these...
Some retailing companies own their own stores or acquire their premises under capital leases. Other retailing companies acquire the use of store facilities under operating leases, contracting to make...
A company president remarked, The operations of our company are such that we can take advantage of only a minor amount of financial leverage. Explain the likely reasoning the company president had in...
Who discovered that energy and mass are two different forms of the same thing?
What evidence supports the contention that the strong nuclear force is stronger than the electrical interaction at short internuclear distances? (a) Protons are able to exist side by side in an...
A certain radioactive element has a half-life of 1 hour. If you start with a 1-g sample of the element at noon, how much of this same element will be left at 3:00 pm? (a) 0.5 g (b) 0.25 g (c) 0.125 g...

If an outstanding balance owing of $15,000 was paid early with $13,000, how early was the...

Question:

Expert Answer:

To calculate the time it took to repay the loan early we can use the formula for the future value of ... View the full answer

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

Students also viewed these finance questions