A loan of $ 8 , 0 0 0 is repaid by payments of $ 7 3 4 at the end of every three months Interest is 7 compounded quarterly ( a ) How many payments are required to repay the debt ( b ) What is the size of the final payment ...

The Answer is in the image, click to view ...

A loan of $ 8 , 0 0 0 is repaid by payments of $ 7 3

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

Question:

A loan of $

8, 000

is repaid by payments of $

734

at the end of every three months. Interest is

7 %

compounded

quarterly.

(

)

How many payments are required to repay the debt?

(

)

What is the size of the final payment?

Posted Date: May 18, 2024 06:17 PM

See More Questions

Under Social Security, the family of a worker who dies while fully insured at the time of death has a right to survivors' benefits. True False
Mackenzie Consulting computes the cost of each consulting engagement by adding a portion of firmwide overhead costs to the labor cost of the consultants on the engagement. The overhead costs are...
To fuel with pressure refueling, a hose nozzle is attached at the fueling station and ________________ to the tanks required to be filled are opened.
City-Alive Company of Fargo, North Dakota, publishes a monthly magazine featuring local restaurant reviews and upcoming social, cultural, and sporting events. Subscribers pay for subscriptions either...
The May transactions of Hanschu Corporation were as follows. May 4 Paid $700 due for supplies previously purchased on account. 7 Performed advisory services on account for $6,800. 8 Purchased...
What is unethical advertising?What is unethical advertising?
Although elitists and pluralists present political influence as a tug - of - war with people at opposite ends of a rope trying to gain control of government, in reality government action and public...
The trajectory of the object is not a straight line, its height h above the horizontal line depends on coordinate x. Find a function h(x) and plot over an interval [0, 10 m]. It is known that the...
Suppose the source of atoms in a Stern-Gerlach experiment was an oven of temperature 1010 K. Assume the magnetic field gradient to be 13 T/m, and take the length of the magnetic field region and the...
Which approach is not recommended when filling a gap in the leader - manager attributes of your team?
What are some best practices when it comes to setting up a budget? What are the main areas to consider when creating a social media budget? What are some metrics you could develop for your specific...
Database administrators (DBA) manage several key databases. Database administrators have access to the database but not the server operating system. Manipulation of data in any of these databases...
Make a brief of five hundred words or less summary of your findings in standard memorandum format based on your analysis. ACME's board is not interested in the statistical analysis; they want to know...
The Alert Company is a closely held investment-services group that has been very successful over the past five years, consistently providing most members of the top management group with 50% bonuses....
Deferred Tax (Appendix) Thad Corporation has compiled its 2008 financial statements. Included in the Long-Term Liabilities category of the balance sheet are the following amounts: Required 1....
Financial Statement Impact of a Lease On January 1, 2008, Kiger Manufacturing Company leased a factory machine for six years. Annual payments of $21,980 are to be made every December 31 beginning...
Financial Statement Impact of a Bond Worthington Company issued $1,000,000 face value, six-year, 10% bonds on July 1, 2008, when the market rate of interest was 12%. Interest payments are due every...

A loan of $ 8 , 0 0 0 is repaid by payments of $ 7 3

Question:

Expert Answer:

Students also viewed these finance questions