Tan Company purchased a large server for $29,000. The company paid 30% of the value as a down-payment and received a loan for the balance at 8.30% compounded monthly. The loan has a term of 3 years and Tan Company had to make month-end payments until the loan was settled. a. Calculate the size of the month

Tan Company purchased a large server for $29,000. The company paid 30% of the value as a down-payment and received a loan for the balance at 8.30% compounded monthly. The loan has a term of 3 years and Tan Company had to make month-end payments until the loan was settled. a. Calculate the size of the month

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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2. Frank's Machine Shop purchased a computer to use in tuning encines. To finance the purchase, the company borrowed S18,900 at 9% compounded monthly. To repay the loan, equal quarterly payments are made over three years, with the first payment dus two years after the date of the loan What is the size of each quarterly payment?
The Superior Tool Company is repaying a debt of $16,000 by payments of $1000 made at the end of every three months. Interest is 7.5% compounded monthly. (a) How many payments are needed to repay the debt? (b) What is the size of the final payment? (a) The number of payments to be made is (Round up to the nearest whole number.) (b) The amount of the last payment is $ (Round to the nearest cent as needed.)
round off to the nearest cent
A loan with payments of $900 due at the end of each month (except for a smaller final payment) was registered with a starting balance of $25,000. The loan has a semiannually compounded rate of return of 3.2%. What will be the final payment? Please answer with details and no plagiarism i give positive rating.
A firm sells the same material with two separate payment plans.1. According to the 1st payment plan, the payment period is 12 months, each monthly payment is 10 837 000 dollars, and an interim payment of 12 million dollars is required at the end of the 6th month.2. In the 2nd payment plan, the payment period is 18 months, each monthly payment is 7 965 000 dollars and an interim payment of 36 million dollars is required at the end of the 12th month. Annual nominal interest rate for both options is 60%. Which payment plan would you recommend? In payments, discrete compound interest is applied.
Golden Dragon Restaurant obtained a $9000 loan at 9% compounded annually to replace some kitchen equipment. What is the size of the final payment if payments of $1800 are made semi-annually? $1335.50 $1800 $1500 $1394.30 $1667.76
Give me answer within an hour please I will give you upvote if you do all parts immediately ifs very urgent ........thankyou...
Langara Woodcraft borrowed money to purchase equipment. The loan is repaid by making payments of $902.51 at the end of every six months over five years. If interest is 6.4% compounded monthly, what was the original loan balance?
Lush Gardens Co. bought a new truck for $58,000. It paid $6,380 of this amount as a down payment and financed the balance at 4.70% compounded semi-annually. If the company makes payments of $1,800 at the end of every month, how long will it take to settle the loan? o years o months Express the answer in years and months, rounded to the next payment period 13 SUBMIT QUESTION SAVE PROGRESS
a contractor brought a luxury service car worth 4.5 million pesos. the paying scheme is as follows. down payment of 10% and balance is payable within the four (4) year period. annual interest rate is 14%. paying continuously uniform payment (monthly) for 2 years and a hald (2 1/2 years) this contractor decided to pay the balance in lump sum. how much this balance was
Cray Computing needs a 6-month loan for $300,000. Its bank quotes a simple interest rate of 11% on the loan. a.) What is the annual percentage rate (APR) if there is a compensating balance requirement of 30% of the loan amount? b.) What is the effective annual rate (EAR) if there is a compensating balance requirement of 30% of the loan amount?
Lush Gardens Co. bought a new truck for $60,000 of this amount 6,000 was paid as a down payment and the balance financed at 5.75% compounded semi annually. If the company makes payments of 1,700 at the end of every month, how long will it take to settle the loan?

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