Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 28, 2021

A $30,000.00 balance of sale at 5.70% (C = 2 and P = 12) with a term of 3 years and an amortization of 25

A $30,000.00 balance of sale at 5.70% (C = 2 and P = 12) with a term of 3 years and an amortization of 25 years is discounted at 18%. What is the amount of the discount? (Using financial calculator).

Step by Step Solution

★★★★★

3.41 Rating (164 Votes )

There are 3 Steps involved in it

Step: 1

Solution Consider the gve... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial management theory and practice

Authors: Eugene F. Brigham and Michael C. Ehrhardt

12th Edition

978-0030243998, 30243998, 324422695, 978-0324422696

More Books

Students also viewed these Finance questions

Question

★★★★★

Wheels, Inc. manufactures bicycles sold through retail bicycle shops in the southeastern United States. The company has two salespeople that do more than just sell the products - they manage...

Answered: 1 week ago

Question

★★★★★

Q1. Suppose player A and player B are playing the following game. Player A can choose "Up" and "Down", while player B can choose "Left" and "Right". The payoff matrix is depicted below. Player A's...

Answered: 1 week ago

Question

★★★★★

A wood post initially costs P 25, 000 with an installation and miscellaneous expenses of P 7, 500 before operation. It is expected to last for twenty years with an annual maintenance of P 2, 750 and...

Answered: 1 week ago

Question

★★★★★

Amandeep, a graduate of Cambrian Colleges Business Program, found a job as an online marketing specialist for Tangerine Bank. Within a year, he had saved {A} and decided to buy a new car but was not...

Answered: 1 week ago

Question

★★★★★

With the increase in the mobility of the population in the United States and with the increase in home-based employment, there is an inclination to assume that the personal income in the United...

Answered: 1 week ago

Question

★★★★★

Write two matrices that have a defined product. Then find the product.

Answered: 1 week ago

Question

★★★★★

2.25 Breathing Rates Is your breathing rate normal? Actually, there is no standard breathing rate for humans. It can vary from as low as 4 breaths per minute to as high as 70 or 75 for a person...

Answered: 1 week ago

Question

★★★★★

Comprehensive problem including special order, outsourcing, and segment elimination decisions Emerson Company's electronics division produces an MP3 player. The vice president in charge of the...

Answered: 1 week ago

Question

★★★★★

Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An...

Answered: 1 week ago

Question

★★★★★

The three-element springs and dashpot model shown is subject to a creep experiment. Show how the length (or strain) increases with time. At time t the stress is removed. Show how the sample recovers....

Answered: 1 week ago

Question

★★★★★

Describe the end behavior: f(x) = (2 x)^3 (10 2x)^2 (x + 1)^4

Answered: 1 week ago

Question

★★★★★

3. (10 points) Find the length of the part of the curve 2 R(t) = t + + 1 t F between the origin and the point (1, 2/2, 1/3).

Answered: 1 week ago

Question

★★★★★

0 Skills and Applications Writing an Exponential Equation In Exercises 7-10, write the logarithmic equation in exponential form. For example, the exponential form of log, 25 = 2 is 5 = 25. 7. log4 16...

Answered: 1 week ago

Question

★★★★★

In 6-8 find the velocity v(t) and position s(t) at time t> 0 of a material particle that moves without friction along a straight line, when its acceleration, initial position, and initial velocity...

Answered: 1 week ago

Question

★★★★★

A die is rolled and value is recorded. The table shows the results of 20 rolls. 1 5 5 2 5 1 5 65 2 LQ 5 LO 5 2462 6 33 5 2 2 (a) Complete the probability distribution table. X P(X) 1

Answered: 1 week ago

Question

★★★★★

Uncle Cosmo plans to build a factory. It will cost $ 1 , 0 0 0 , 0 0 0 . He expects the after - tax cash inflows to be $ 2 3 0 , 0 0 0 annually for 6 years, after which he plans to scrap the...

Answered: 1 week ago

Question

★★★★★

Test the implementation of the Bag class in Listing 6.5 (page 166) in your book. Your demonstration must include the iterator for the Bag class! Demonstrate with several examples that the function...

Answered: 1 week ago

Question

★★★★★

Extend Algorithms 3.4 and 3.5 to include as output the first and second derivatives of the spline at the nodes.

Answered: 1 week ago

Question

★★★★★

You buy a share of The Ludwig Corporation stock for $21.40. You expect it to pay dividends of $1.07 $1.1449, and $1.2250 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of...

Answered: 1 week ago

Question

★★★★★

David Ortiz Motors has a target capital structure of 40 percent debt and 60 percent equity. The yield to maturity on the companys outstanding bonds is 9 percent, and the companys tax rate is 40...

Answered: 1 week ago

Question

★★★★★

Suppose rRF = 5%, rM = 10%, and rA = 12%. a. Calculate Stock As beta. b. If Stock As beta were 2.0, what would be As new required rate of return?

Answered: 1 week ago

Question

★★★★★

=+a. What specification limit does the envelope size place on the page-folding process?

Answered: 1 week ago

Question

★★★★★

=+2. Determining whether structural materials conform to specifications often requires special test equipment (which can be expensive) and test procedures (which require specialized training)....

Answered: 1 week ago

Question

★★★★★

45. Suppose that an investor has a choice of four investments (assume that he must choose one, and only one, of the fourhe cannot divide his money among them): A: a savings account in a bank. B: a...

Answered: 1 week ago

Previous Question Next Question