FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help, BA12 calculator work only An $87,000 business can be purchased by making a down payment of $12,000 and financing the balance with a

please help, BA12 calculator work only image text in transcribed
An $87,000 business can be purchased by making a down payment of $12,000 and financing the balance with a short-term business loan at 5.00% compounded monthly with monthly payments of $1,865. How long will it take to pay off the loan year(s)+month(s) Round up to the next payment period. Give your answer in years and months

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image_2

Step: 3

blur-text-image_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

Clarence Dillon A Wall Street Enigma

Clarence Dillon A Wall Street Enigma

Authors: Robert C. Perez , Edward F. Willett

1st Edition

1568330480

More Books

Students also viewed these Finance questions

Question

★★★★★
On April 1, 2014, Rizzo Company purchased $80,000 of 4.5%, 20-year Energizer Company bonds at their face amount plus one month's accrued interest. The bonds pay interest on March 1 and September 1....

Answered: 1 week ago

Question

★★★★★
=+a. What is nominal GDP for each of these three years?

Answered: 1 week ago

Question

★★★★★
with the news of this tragedy, what would be the nuggets in your immediate message to the media and stakeholders?

Answered: 1 week ago

Question

★★★★★
On July 31, 2014, Amsterdam Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2014....

Answered: 1 week ago

Question

★★★★★
3 pts Question 7 Firm A plans to issue a $1.000 par value, 20-year noncallable bond with a 7.00% annual coupon, paid semiannually. The company's marginal tax rate is 40.00%, but Congress is...

Answered: 1 week ago

Question

★★★★★
For individual tax payers, match the tax item with the correct category: charitable donations basic personal amount loss carry forwards pension contributions age support payments to a former spouse...

Answered: 1 week ago

Question

★★★★★
These problems start with a bidiagonal n by n backward difference matrix D = I - S. Two tridiagonal second difference matrices are DDT and A = -S+21-ST. The shift S has one nonzero subdiagonal Si,i-1...

Answered: 1 week ago

Question

★★★★★
BTE Tax Partners is a tax accounting firm. The firm specializes in personal tax and corporate tax. The division is supported by three support departments: Billing, HR, and IT. You are the finance...

Answered: 1 week ago

Question

★★★★★
Baleen Company supplied the following data at the end of the current year: Sales commissions $12,000 Sales revenue 120,000 Research and development 17,000 Finished goods inventory, Jan. 1 7,500...

Answered: 1 week ago

Question

★★★★★
The U.S. Department of Agriculture urges the use of process costing together with: Multiple Choice None of these answers are correct. Standard costing. Activity-based costing. Normal costing....

Answered: 1 week ago

Question

★★★★★
Campbell Electronics currently produces the shipping containers it uses to deliver the electronics products it sells. The monthly cost of producing 9,300 containers follows. Unit-level materials...

Answered: 1 week ago

Previous Question Next Question