Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters

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

Question:

Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters with an interest rate of 12% compounded annually. How much was the initial borrowed money if quarter payment is 2,000.

Related Book For answer-question

Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

See More Books

Posted Date: May 04, 2024 07:04 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...
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...
Which of the following is not true regarding the receivables turnover ratio? 1) It is used to assess the liquidity of receivables. 2) It has a popular variant called the average collection period. 3)...
Suppose a random sample of size n is drawn from the pdf f Y (y; ) = e (y) , y (a) Show that = Y min is sufficient for the threshold parameter . (b) Show that Y max is not sufficient for .
Ramirez Co. decides at the beginning of 2019 to adopt the FIFO method of inventory valuation. Ramirez had used the average-cost method for financial reporting since its inception on January 1, 2017,...
Wilson method a. Assumes that acceleration varies linearly between $t_{i}$ and $t_{i}+\theta \Delta t ; \theta \geq 1$ b. Assumes that acceleration varies linearly between $t_{i}$ and...
From the tenth floor of her office building, Katherine Rally watches the swarms of New Yorkers fight their way through the streets infested with yellow cabs and the sidewalks littered with hot dog...
What is the present value of $100,000 to be received in 20 years? Your required rate of return is 8% per year. What is the annual interest rate required for 20,000 to grow into 30,000 in 15 years?
write a program which declares an array of 51 integers.
Kuzu Company discovers in 2019 that its ending inventory at December 31, 2018, was $7,000 understated. What effect will this error have on (a) 2018 net income, (b) 2019 net income, and (c) the...
Presented below are selected accounts for B. Midler Company as reported in the worksheet at the end of May 2019. Ending inventory is $75,000. Instructions Complete the worksheet by extending amounts...
Write a method remove() that takes a linked-list Node and a string key as its arguments and removes every node in the list whose item field is equal to key.
Given a bitonic array of $n$ distinct integers, design a logarithmic-time algorithm to determine whether a given integer is in the array.
Modify BST to add a method size() that returns the number of key-value pairs in the symbol table. Use the approach of storing within each Node the number of nodes in the subtree rooted there.
Write a Summary of a current event article related to process costing. Relate this article to aviation if possible.
H.J. Heinzs annual dividends were as follows: 1990 ..............$0.540 1991.............. 0.620 1992 .............. 0.700 1993.............. 0.780 1994 .............. 0.860 1995 .............. 0.940...
Cite an example of a restricted homogeneous equation contained in a technical article found in an engineering journal in your field of interest. Define all terms in the equation, explain why it is a...
The universal gas constant $R_{0}$ is equal to $49,700 \mathrm{ft}^{2} /\left(\mathrm{s}^{2} \cdot{ }^{\circ} \mathrm{R} ight)$, or \(8310 \mathrm{~m}^{2} /\left(\mathrm{s}^{2} \cdot \mathrm{K}...
Dimensionless combinations of quantities (commonly called dimensionless parameters) play an important role in fluid mechanics. Make up five possible dimensionless parameters by using combinations of...

Money borrowed today is to be paid in 6 equal payments at the end of 6 quarters

Question:

Expert Answer:

Here We have to find the Principal R 12 ... View the full answer

Principles of Finance

Students also viewed these civil engineering questions