How soon would the loan be paid off if the borrower made a single additional payment of

Question:

How soon would the loan be paid off if the borrower made a single additional payment of $33,000 to reduce principal at the end of the fifth year?

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

Step by Step Answer:

Related Book For book-img-for-question

Practical Financial Management

ISBN: 978-1133593683

7th edition

Authors: William R. Lasher

See More Books

Question Posted: May 14, 2015 11:09 AM

See More Questions

During the current year, Seth, a self-employed individual, paid the following taxes: Federal income tax State income tax Real estate taxes on land in South America (held as an State sales taxes...
How soon would the loan in Problem 21 pay off if the borrower made a single additional payment of $17,936.29 to reduce principal at the end of the fifth year?
What single amount at the end of the fifth year is equivalent to a uniform annual series of $3,000 per year for 10 years if the interest rate is 9% compounded annually?
Consider a beam with two perpendicular segments subjected to a concentrated load as shown in Fig. 9.52. Using two beam elements, determine the deflection and stresses in the two segments of the beam....
In Gruber's (1970) study of n = 104 individuals (discussed in Problem 10), the relationship between blood pressure change (SBPSL) and relative weight (RW), controlling for initial blood pressure...
Two pinholes in a thin sheet of aluminum are 1.00 mm apart and immersed in a large tank of water (n = 1.33). The holes are illuminated by 0 = 589.3 nm plane waves, and the resulting fringe system is...
Consider two identical call options, with strikes $K_{1}$ and $K_{2}$; show that: (a) If $K_{2}>K_{1}$ then $C\left(K_{2} ight)>C\left(K_{1} ight)$ (b) If $K_{2}>K_{1}$ then...
In Figure a frictionless roller-coaster car of mass m - 825 kg tops the first hill with speed v0 = 17 .0 m/s at height h = 42.0 m. How much work does the gravitational force do on the car from that...
LIFO Liquidation Profit Hammond Company adopted LIFO when it was formed on January 1, 2017. Since then, the company has had the following purchases and sales of its single inventory item: Year Units...
On December 1, 2017, Rodriguez Distributing Company had the following account balances. During December, the company completed the following summary transactions. Dec. 6 Paid $1,600 for salaries and...
What are the monthly payments on the loan? Construct an amortization table for the first six months of the loan.
Harrison Conway is choosing between a fix rate and an adjustable rate mortgage (ARM) for $300,000. Both are 30 year mortgages with monthly payments and compounding. The fixed rate is offered at 8%...
How is the ability to listen to others and understand their points of view connected to effective technical or business communication?
Many closed-loop and open-loop control systems can be found in homes. (a) List six such examples (three open-loop and three closed-loop). (b) Construct feedback control system block diagrams for the...
What is the current status of the Sarbanes-Oxley Act? What do executives think of it now? What impact has it had?
Can you implement a BPM project without technology?
What are the components of a BOM?
What are the two types of operational management of business processes?
Match each of the key terms with the definition that best fits it. ____________ The current value of a future cash flow. Here are the key terms from the chapter. The page where each term is first...
The maximum pressure that can be developed for a certain fluid power cylinder is 15.0 MPa. Compute the required diameter for the piston if the cylinder must exert a force of 30 kN.
Broxholme Industries has sales of $40 million, equity totaling $27.5 million, and an ROS of 12%. The sustainable growth rate has been calculated at 10.9%. What dividend payout ratio was assumed in...
The Owl Corporation is planning for 20X2. The firm expects to have the following financial result in 20X1 ($000). Management has made the following planning assumptions: Income Statement Revenue...
The Haverly Company expects to finish the current year with the following financial results, and is developing its annual plan for next year. The following facts are available. FACTS Payables are...
F. Pierce Products Inc. is financing a new manufacturing facility with the issue in March of $20,000,000 of 20-year bonds with semiannual interest payments. It is now October, and if Pierce were to...
Watch the video, Critical Theory, Social Justice and Christianity: Are they Compatible? https://www.youtube.com/watch?v=qnmJX5hEenY&t=2894s&ab_channel=NOBTSApologetics Review the articleThe...
Describe an example of a data privacy law or any obstacle to international legislation that pertains to data privacy.

How soon would the loan be paid off if the borrower made a single additional payment of

Question:

Step by Step Answer:

First calculate balance after 5 years 36060 300 PVA PMT PVFA 5300 PVA 89932 155207 ...View the full answer

Practical Financial Management

Students also viewed these Finance questions