Jana borrows $47,100 and agrees to make 60 monthly payments of $995. She pays the debt in

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

Question:

Jana borrows $47,100 and agrees to make 60 monthly payments of $995. She pays the debt in full in 52 months. What is the amount needed to pay her loan in full using the rule of 78?

Related Book For answer-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

See More Books

Posted Date: Apr 02, 2024 09:03 PM

See More Questions

1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...
This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith. Question 1 T1 - step 4 - line 66 This is Anna's taxable income Answer: Question 2 T1 - step...
New River Fitness, Inc. began operations on January 2, 2021. The company is a retailer that sells athletic shoes and apparel, fitness accessories, and fitness equipment. The company had the following...
Prove the following statement: If a transformer having a series impedance Ze is connected as an autotransformer, its per-unit series impedance Z as an autotransformer will be SE Zoq NSE + NC Note...
What specific role does knowledge of the primary amino acid sequence play in the determination of tertiary structure by X-ray crystallography?
For the given input values of A and B, use the program to determine the value of C. IF ((A < 0) AND (B < 0)) OR (B ( 6) THEN LET C = (A * B) + 4 ELSE LET C = 0 (a) A = -1, B = -2 (b) A = -2, B = 8...
$150 \mathrm{rad}$ of gamma radiation are directed into a $150 \mathrm{~g}$ tumor. How much energy does the tumor absorb?
A lease agreement between Lennox Leasing Company and Gill Company is described in E21-8. (Round all numbers to the nearest cent.) Refer to the data in E21-8 and do the following for the lessor. (a)...
What is marketing management ? Explain the marketing strategy and plan.
1. Kater Company makes bookshelves. The company receives pre-cut lumber, drills holes in the wood so mobile shelving can be installed, then assembles and paints the units. Classify each of the...
A karaoke machine regularly costs $146 and is on sale for 35% off. What is the discount?
How do globalization and transnationalism affect the traditional boundaries and notions of community, and what strategies can be employed to reconcile local identities with global interconnectedness?
How do cytoplasmic molecular motors, such as dynein, kinesin, and myosin, drive intracellular transport processes, including vesicle trafficking, organelle positioning, and chromosome segregation,...
The Corona Virus, that started to spread in many countries in early 2020, is more contagious than the common flu. Many people are infected, and many of the infected have died. The number of deaths...
Blake is getting ready to retire after 30 years with OMG Corp. and he is planning for his new budget. What guarantees Blake will receive income after he retires? Explain.
Discuss the events of Pearl Harbor leading the U.S. into World War II
Calculate the electrical conductivity of a fiber-reinforced polyethylene part that is reinforced with 20 vol % of continuous, aligned nickel fibers.
Santinis new contract for 2019 indicates the following compensation and benefits: Santini is 54 years old at the end of 2019. He is single and has no dependents. Assume that the employer matches $1...
In 2019, Nina contributes 10 percent of her $100,000 annual salary to her 401(k) account. She expects to earn a 7 percent before-tax rate of return. Assuming she leaves this (and any employer...
Matthew (48 at year-end) develops cutting-edge technology for SV Inc., located in Silicon Valley. In 2019, Matthew participates in SVs money purchase pension plan (a defined contribution plan) and in...

Jana borrows $47,100 and agrees to make 60 monthly payments of $995. She pays the debt in

Question:

Expert Answer:

To calculate the amount needed to pay Janas loan in full using the rule of 78 we first need to deter... View the full answer

Smith and Roberson Business Law

Students also viewed these mathematics questions