You take out a new-car loan from an internet bank that compounds interest weekly and requires weekly
Question:
You take out a new-car loan from an internet bank that compounds interest weekly and requires weekly payments. The interest rate is 5.5%. What is the weekly payment for a $20,000, five-year loan, assuming one year is exactly 52 weeks?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
The weekly payment for a 20000 fiveyear loan assuming one year is exactly ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Analysis Synthesis And Design Of Chemical Processes
ISBN: 9780134177403
5th Edition
Authors: Richard Turton, Joseph Shaeiwitz, Debangsu Bhattacharyya, Wallace Whiting
Question Posted:
Students also viewed these Engineering questions
-
Search the internet to purchase the following items using the 2 scenarios listed below. Calculate and present all 2 scenarios using 1 Excel workbook. Add an additional Worksheet for your Reflective...
-
1. Use the internet to come up with an example of a highly leveraged firm and a lowly leveraged firm. Include the firms name, their total assets, total liabilities, and total equity according to...
-
Hacky Sack recently purchased and now manages a ski and snowboard rental shop near Silver Star Ski Resort. As part of his due diligence prior to the purchase, he established that he should expect to...
-
The annual consumption of beef per person was about 64 7 lb in 2000 and about 60 3 lb in 2007 Assume B(t), the annual beef consumption t years after 2000, is decreasing according to the exponential...
-
Your brother has asked you for a loan and has promised to pay back $7,750 at the end of three years. If you normally invest to earn 6 percent per year, how much will you be willing to lend to your...
-
A new-car dealer is leasing various brand-new models for the monthly rates (in dollars) listed below. Estimate the true population variance (and standard deviation) in leasing rates with 90%...
-
Fernandez & Co. experienced the following six events during the current year: 1. The sale of common stock to investors for \($5\) million cash. 2. The sale of a new bond issue to investors for...
-
Gilbert, Inc., which uses a process costing system, makes a chemical used as a food preservative. The manufacturing process involves Departments A and B. the company had the following total costs and...
-
Evaluate the effectiveness of process management in your organization. Suggest potential improvements to improve process management within your organization. Describe the specific steps in the...
-
You want to begin an investment plan to save for your daughters college education. Because you believe that your newly born daughter will be a genius (just like you!), you are assuming the cost of an...
-
One bank advertises an interest rate on a certificate of deposit (CD) to be 4% compounded daily. Another bank advertises a CD with a 4.1% effective annual rate. In which CD would you invest?
-
The eigenvector shortcut of Problem 17 may fail when h = 0, forcing a return to the definition Av = λv to find the eigenvector(s). For each eigen-value in the following matrices, find...
-
Prepare a schedule C for the following cases: Case 1: Carmelo Mendez Carmelo Mndez is married and has a car stereo business. Total sales for this taxable year were $75,000. Carmelo had the following...
-
Current Period Revenues Construction Expenses Materials Labor Subcontract Equipment Income Statement Other Total Construction Expenses Equipment Expenses Rent and Lease Payments Depreciation Repairs...
-
The following information is for Kon Inc. for the year ended December 31, 2021: Common shares, Jan. 1 $20,000 Common shares issued during year 10,000 Retained earnings, Jan. 1 58,000 Office expense...
-
1. Draw a free body diagram for a pole vaulter: a. The athlete. Assume that ax < 0, ay > 0. Please note I have indicated the forces on the athlete at their front hand. (2) b. The pole. Assume ax < 0,...
-
Due: Sunday, March 5th by 11:59 pm CST Total points: 20 The book basis financials of Saldia, Inc. for the year ended 12/31/22 are shown below. On January 1, 2022, Salida had two shareholders. Selena,...
-
The following items may or may not be relevant to a company's bank reconciliation: 1. The company recorded a deposit as $540, but it correctly cleared the bank for $450. 2. A check recorded for...
-
2. In the circuit given in Figure 2, i,(t) = 5.67cos(5t)A and v (t) = 70.71 cos(5t 60) V a) Find the equivalent load impedance. State whether the load is inductive or capacitive. b) Calculate the...
-
Then discuss your answers to these questions with each other. Ask a chemical engineering student who has not yet taken design to read a report you have written and to point out the difficult...
-
Exchange a report you have written for one by a classmate. Spend three minutes skimming the report, and write down answers to the following three questions: 1. Why was the report written? 2. What is...
-
Then discuss your answers to these questions with each other. Obtain the written report guidelines from a firm that employs engineers. Compare them with those in Section 29.2.8 and explain the...
-
"Any single erroneous assumption can result in a negative effect where positive results were expected". Discuss what is meant by this statement using clear and vivid examples of estimate and...
-
Use the sample from Topic 2 DQ 1 and test that the population mean for rolling a single die is 3.5. Please explain the steps as I am trying to understand how to get the calculation Mean: 3.56 Median:...
-
Assume that the selling price ($) has a bell-shaped distribution or normal distribution. What is approximately 95% of houses have selling price ($) between 106854 and 1462664 dollar? Calculate X...
Study smarter with the SolutionInn App