Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 20, 2024

How long will it take to pay off a loan $ 4 5 , 0 0 0 at an annual rate 1 1 % compounded

How long will it take to pay off a loan $

45, 000

at an annual rate

11 %

compounded monthly if you make monthly payments of

650

you have five Desimal places for the monthly percentage rate in your calculations

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

The ImpactAssets Handbook For Investors

Authors: Jed Emerson

1st Edition

1783087293, 978-1783087297

More Books

Students also viewed these Finance questions

Question

★★★★★

Pintura Company implemented a quality improvement program and tracked the following for the five years: By cost category as a percentage of sales for the same period of time: Required: 1. Prepare a...

Answered: 1 week ago

Question

★★★★★

I havent been approved yet for the loan; Ill wait until aft er that.

Answered: 1 week ago

Question

★★★★★

39. For each of the following situations, identify the type I and type II errors and the correct actions. (a) Ho: A new treatment is not more effective than the traditional one. (1) Adopt the new...

Answered: 1 week ago

Question

★★★★★

Consider a project with free cash flows in one year of $130,000 or $180,000, with each outcome being equally likely. The initial investment required for the project is $100,000, and the projects cost...

Answered: 1 week ago

Question

★★★★★

A company needs Rs. 10,00,000/- for modernization. The following 3 plans are available - a) Issue 100,000 equity shares of Rs. 10 per share b) Issue of 50,000 equity shares of 10 per share & 5,000...

Answered: 1 week ago

Question

★★★★★

Create a digram of the system but do in proper format Create a digram of the system but do in proper format Create a digram of the system but do in proper format

Answered: 1 week ago

Question

★★★★★

A cannonball of mass 29.4 kg is shot into the air at an angle of 45 degrees with respect to horizontal. At the top of its ballistic trajectory, the cannonball suddenly explodes into two separate...

Answered: 1 week ago

Question

★★★★★

Which theory between systems theory, contingency theory and behavioral theory is most important for employee centricity and why?

Answered: 1 week ago

Question

★★★★★

Explain the gender and disability issues while using computers in the classroom?

Answered: 1 week ago

Question

★★★★★

onsider firing an arrow from a bow. When you pull back the bow and then release it, the arrow flies through the air at a speed of 2,398 ft/s. How fast does your arrow move in units of miles /hr?

Answered: 1 week ago

Question

★★★★★

A car is traveling at 120 km/h (75 mph). When applied the braking system can stop the car with a deceleration rate of 9.0 m/s. The typical reaction time for an alert driver is 0.8 s versus 3 s for a...

Answered: 1 week ago

Question

★★★★★

(Appendices) Kelly, age 35, spends most of her time at home taking care of her home and children. However, she works all day Friday and Saturday in her husbands computer store. She receives no...

Answered: 1 week ago

Question

★★★★★

(Appendices) One of the most critical problems in unemployment compensation at the present time is the inadequate financing of benefits, which caused the majority of states to deplete their trust...

Answered: 1 week ago

Question

★★★★★

(Appendices) Although workers compensation laws differ among the states, they have certain common features. Explain whether each of the following persons would be eligible for workers compensation...

Answered: 1 week ago

Previous Question Next Question