If this loan had been made on a 10% add-on basis, payable in 12 end-of-month installments, what
Question:
If this loan had been made on a 10% add-on basis, payable in 12 end-of-month installments, what would be the monthly payment amount? ($45,833.33) What is the annual percentage rate?
(17.97%) The effective annual rate?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
To calculate the monthly payment amount for a loan made on a 10 addon basis payable in 12 endofmonth ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Intermediate Financial Management
ISBN: 9781337395083
13th Edition
Authors: Eugene F. Brigham, Phillip R. Daves
Question Posted:
Students also viewed these Business questions
-
"internet radios" for streaming audio, and personal video recorders and players. Describe design and evaluation processes that could be used by a start-up company to improve the usability of such...
-
The topic is Database Management Systems What is the purpose of a database? What are the contents of a database? What is a database management system (DBMS)? What are the components of a database...
-
Portray in words what transforms you would have to make to your execution to some degree (a) to accomplish this and remark on the benefits and detriments of this thought.You are approached to compose...
-
What is the purpose of a Notice of Assessment?
-
A paper cup placed among hot coals will burn if empty (note burn spots at top of cup in Fig. 14-14), but won't burn if filled with water. Explain. Forget the marshmallows.
-
What is the nature of the legal problem that adds to the uncertainty of an action against a trade union?
-
FRAUD PREVENTION AND DETERRENCE IN ACTION Assume the following facts: thirty-day collection period. The invoice is used to post-sales to the accounting system. Checks are received in the mailroom and...
-
Conlin Corporation had the following tax information. In 2011 Conlin suffered a net operating loss of $480,000, which it elected to carry back. The 2011 enacted tax rate is 29%. Prepare Conlin's...
-
The graph below shows the number of people who consume different numbers of lollipops per year. What is the median number of lollipops consumed? Number of People 3 27 24 21 18 15 12 96 Number of...
-
What is commercial paper?
-
If a firm borrowed $500,000 at a rate of 10% simple interest with monthly interest payments and a 365-day year, what would be the required interest payment for a 30-day month? ($4,109.59) If interest...
-
A high concentration of calcium and gypsum in water can affect the water quality and limit mineral flotation. In Minerals Engineering (Vol. 46-47, 2013), chemical and materials engineers published a...
-
Simple Hospitality Ltd is Australias preferred hospitality goods manufacturer. The company manufactures and distributes bin liners, plastic bags, catering equipment, chemical and cleaning supplies,...
-
You set up a college fund in which you pay $3200 each year at the beginning of the year. How much money (in $) will you have accumulated in the fund after 24 years, if your fund earns 8.5% compounded...
-
Cinqua Terra Incorporated issued 10-year bonds three years ago with a coupon rate of 8.00% APR. The bonds pay semi-annual coupons, have a face value of $1,000 each and were issued at par value....
-
Cooper wants to retire with $720000 in his retirement account exactly 38 years from today. He will make annual deposits at the end of each year to fund his retirement account. If he can earn 7...
-
Identify a contemporary issue concerning freedom of expression under the First Amendment, and discuss the most likely future scenarios, referencing both historical analogs and case law.?
-
The thermal conductivity and surface emissivity of a material may be determined by heating its bottom surface and exposing its top surface to quiescent air and large surroundings of equivalent...
-
You are planning to purchase your first home five years from today. The required down payment will be $50,000. You currently have $20,000. but you plan to contribute $500 each quarter to a special...
-
Describe Alex and Ani' s sales process before and after the mobile application was deployed.
-
What are the principal methodologies for modeling and designing systems? Compare object-oriented and traditional structured approaches for modeling and designing systems.
-
Analyze ConAgra's problems with its old system. What management, organization, and technology factors were responsible for these problems? What was the business impact of these problems?
-
A violet ray of light leaves a medium with refractive index of 6.46 at an angle of 0.07 radians to the normal and enters a second medium with refractive index of 22.04. At what angle to the normal...
-
Water is flowing through a pipe with a constriction. the area of the narrow section has an area that is 1.4 times smaller than the are of the wide section. If the velocity of the (incompressible)...
-
Treating the porphyrin as a two dimensional square box with length L in each direction, write the expression for the energies of an electron in the box. B) (10 pts) Comment on the degeneracy of...
Study smarter with the SolutionInn App