TMI Systems, a company that customizes software for construction cost estimates, repaid a loan obtained 3 years

Question:

TMI Systems, a company that customizes software for construction cost estimates, repaid a loan obtained 3 years ago at 7% per year simple interest. If the amount that TMI repaid was $120,000, calculate the principal of the loan.

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

Step by Step Answer:

Related Book For book-img-for-question

Engineering Economy

ISBN: 978-0073523439

8th edition

Authors: Leland T. Blank, Anthony Tarquin

See More Books

Question Posted: Dec 11, 2018 12:51 PM

See More Questions

Suppose Jackson Jets is a small company that customizes Learjets for wealthy clients. At present, the company's managers are negotiating with three potential customers for next year's sales. The...
As CFO you have been asked to evaluate the sustainability of two different enterprise software systems for your company. 1. A system that uses an SAP baseline system. Your company would not customize...
Guthrie Wilson is an accountant at Bellwether Systems, a company that sells and installs customer relationship management (CRM) systems. The company sells third-party software at cost plus 25 percent...
Owner Shan Lo is considering franchising her Happy Wok restaurant concept. She believes people will pay $5 for a large bowl of noodles. Variable costs are $1.50 a bowl. Lo estimates monthly fixed...
A vertical force P of magnitude 150 N is applied to end E of cable CDE, which passes over a small pulley D and is attached to the mechanism at C. The constant of the spring is k = 4 kN/m, and the...
Table 1.3 gives data on the Consumer Price Index (CPI) for seven industrialized countries with 19821984 = 100 as the base of the index. a. From the given data, compute the inflation rate for each...
The Corporate Winner and People's Choice Winner was Daniel Gallagher from NASA's Scientific Visualization Studio, for his video "Martian Atmosphere Loss Explained by NASA." Watch this video and...
Tovar Co. is a U.S. firm that has been asked to provide consulting services to help Grecia Company (in Greece) improve its performance. Tovar would need to spend $300,000 today on expenses related to...
You are considering an investment that will pay $22845 in 14 years. If the interest rate is 10.99%, what is the most you should be willing to invest today?
Veronica is the owner of a manufacturing business. The following trial balance was extracted from her books as at 31 December 20X2: The following information was also made available: 1. Expenses are...
Durco Automotive needs a $1 million balance in its contingency fund 3 years from now. The CFO (chief financial officer) wants to know how much to deposit now into Durcos high-yield investment...
The Nicor family is planning to purchase a new home 3 years from now. If they have $240,000 now, how much will be available 3 years from now? The fund grows at a compound rate of 12% per year.
Consider predicting the pressure drop p between two points along a smooth horizontal pipe under the condition of steady laminar flow. Assume: where s is the control distance between two points in the...
3. Consider a derivative that gives the buyer an option to receive the average of the past stock price values (including today's price) by paying. 100 dollars. The stock currently trades at S(0) =...
3. You want to buy a car for $50,000. The dealership offers you one of two incentive packages: An interest free loan for 3 years. This involves paying $12,500 immediately as a down payment, followed...
In your management role in the treasury of a major financial institution (bank), you are approached by two corporations (Company X and Company Y) seeking your assistance in arranging an interest rate...
Explain the concept of leverage in finance, and provide an example of how it affects a companys financial statements. Leverage refers to the use of borrowed funds to increase the potential return on...
Suppose a 0 . 3 6 6 kg object is sliding on a frictional surface with k of 0 . 0 9 0 . What is the magnitude of the force of friction in N ?
A manufacturer of cigarettes wishes to test the claim that the variance of the nicotine content of the cigarettes the company manufactures is equal to 0.638 milligram. The variance of a random sample...
How much more interest will be earned if $5000 is invested for 6 years at 7% compounded continuously, instead of at 7% compounded quarterly?
A company that makes self-clinching fasteners expects to purchase new production-line equipment in 3 years. If the new units will cost $350,000, how much should the company set aside each year, if...
Find the numerical value of the following factors using (a) Interpolation (b) The formula. 1. (A/P, 13%, 15) 2. (P/G, 27%, 10)
Find the numerical value of the following factors using (a) Interpolation, (b) The formula, (c) A spreadsheet function. 1. (F/P, 14%, 62) 2. (A/F, 1%, 45)
How do advanced scenario planning methodologies, such as probabilistic forecasting, sensitivity analysis, and scenario stress-testing, inform the development of robust, adaptive visions that are...
How can leaders sustain momentum and relevance around visionary visions amidst evolving external environments, internal dynamics, and competing priorities, fostering adaptability, resilience, and...
What cognitive processes underlie the formulation of visionary narratives, and how can leaders leverage storytelling techniques to evoke emotional resonance, foster buy-in, and drive transformative...

TMI Systems, a company that customizes software for construction cost estimates, repaid a loan obtained 3 years

Question:

Step by Step Answer:

F P Pni 120...View the full answer

Engineering Economy

Students also viewed these Business questions