A loan of 100,000 is payable over five years with monthly payments of 60,000 commencing one month

Question:

A loan of 100,000 is payable over five years with monthly payments of 60,000 commencing one month after the inception date. The loan repayment is 2,000 per month and the nominal rate 10 per cent. How much capital remains at the end of five years?

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

Step by Step Answer:

Related Book For book-img-for-question

Mastering Financial Mathematics In Mircosoft Excel A Practical Guide For Business Calculations

ISBN: 9780273688662

1st Edition

Authors: Alastair L. Day

See More Books

Question Posted: Jun 04, 2024 02:12 AM

See More Questions

A loan of 100,000 is payable over five years with monthly payments of 60,000 commencing one month after the inception date. The loan repayment is 2,000 per month and the nominal rate 10 per cent. How...
Meg Lanning has sole income from a trust fund which will pay her $40,000 now, $30,000 in one year and $60,000 in two years time. Meg wishes to consume $32,000 now and $42,000 in one year. If the...
1. The construction industry was enjoying good time three years ago. During those year, your company bought few excavators to stay competitive in the market. Unfortunately business environment...
Using the data provided in BE19-21, determine the ending balance of the plan assets and indicate the funded status of the plan at the end of the year under U.S. GAAP. In BE19-21 Armando Hernandez...
Are you willing to pay more for a tempting vice option (e.g., eating a hamburger, surfing the Internet) than a virtuous option (e.g., eating broccoli, reading the newspaper)? The costs and benefits...
The position of a particle at time t (s) is s(t) = t 2 + 1 m. Compute its average velocity over [2, 5] and estimate its instantaneous velocity at t = 2.
3. An investor in a corporate joint venture would be least likely to: a Be active in the management of the venture b Have an ability to exercise significant influence c Consent to each significant...
Absolute Leasing, Inc. agrees to lease equipment to Allen, Inc. on January 1, 2012. They agree on the following terms: 1) The normal selling price of the equipment is $350,000 and the cost of the...
Compare the high-low method and regression analysis and point out which are the advantages and disadvantages of both methods.(around 700 word as a max)
If the future value is 5,000 what does the loan payment need to be? Build a spreadsheet using the functions demonstrated in this chapter.
Banque Canada and the Canadian Dollar Forward Market. Use the following website to find the latest spot and forward quotes of the Canadian dollar against the Bahamian dollar and the Brazilian real....
Beginning and end ofy ear balance sheets for Jensen Corporation follow. Also shown is the income statement for 20X6. No investments were sold during the year, however, stock in Delta Corporation was...
What is the discount rate? PV = 7 0 0 ; t = 5 year period; FV = 1 0 0 0
How is planning illustrated in this case story? How is strategic management illustrated in this case story? The new CEO stated that the CEO's job is to give employees a point of view. Explain what...
Explain the Following Questions: 1. What essential characteristics exist in a proper understanding of "personal mastery," so that as an individual achieves greater progress in this discipline, they...
Few people want to eat discolored french fries. Potatoes are kept refrigerated before being cut for french fries to prevent spoiling and preserve flavor. But immediate processing of cold potatoes...
Part 3 of 4 Points: 0.49 of 1 Compute P(X) using the binomial probability formula. Then determine whether the normal distribution can be used to estimate this probability. If so, approximate P(X)...
Melinda Horan is one of Texass premiere party planners. She purchases a variety of supplies, such as plastic tableware, stemware, and decorations, throughout the year. Melinda has prepared the...
Interview managers at three companies in your area about their use of ERP. How have their experiences been similar? What accounts for the similarities and differences?
FINANCIAL STATEMENT ANALYSIS INSTRUCTIONS 1. PREPARE RATIO ANALYSIS REPORT ( word file) Format 1. Introduction 2. Importance of Financial Statements 3. Importance of Financial statement analysis and...
Let us assume that Europe is in recession, China's economy is slowing down, and the US economy is growing at 1-2%. Use these assumptions to invest in 4 ETFs (electronically traded funds). The 4 ETFs...
A section 83(b) election creates ordinary income at the time of the grant. Ture or False

A loan of 100,000 is payable over five years with monthly payments of 60,000 commencing one month

Question:

Step by Step Answer:

Mastering Financial Mathematics In Mircosoft Excel A Practical Guide For Business Calculations

Students also viewed these Sciences questions