Question: Just need help finding the formulas to use for it. Thanks is the annual rate of return? A woman went to the Beneficial Loan Company

Just need help finding the formulas to use for it. Thanks

is the annual rate of return? A woman went to the Beneficial Loan Company an borrowed $10,000. She must pay $323.53 at the end of each month for the next 60 months. What is the 7- monthly interest rate she is paying? What effective annual interest rate is she paying? 7-5 th 3000 down

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

123please help me with this Winter 1, 2013 7/22/2012 Chapter 4. Ch 04 P35 Build a Model Except for charts and answers that must be written, only Excel formulas that use cell references or functions...

An investment of $ 5 0 0 0 in Biotech common stock proved to be very profitable. At the end of 3 years the stock was sold for $ * * * * , 0 0 0 . What was the rate of return on the investment? A...

pls complete the excel sheet and write out the excel formulas thx. 7-5 A woman went to the Beneficial Loan Company and borrowed $10,000. She must pay $323.53 at the end of each month for the next 60...

PLEASE, SOMEONE, HELP FINDING THE FORMULAS FOR RULES 1 TO 5 AND MAX LOAN . THAT'S ALL. THANKS IN ADVANCE. INSTRUCTIONS: Rule 1: the applicant can borrow at 5.5% rate if credit score is above 620, has...

PROBLEMS ? Show your work! For time value of money problems, show your inputs,and tell me what you use for the calculations! No work and its wrong = 0 points!1. (7 points) In the Wall Bricks, Inc.?s...

I"m struggling with juggling on my classes and family life. I am needing help with my principles of finance midterm. please see attachment. I'm needing a 95 score or better. please help. if you have...

can you please help me with these problems i cant solve for financial investments. Chapter 2 hw problems 1. ABC Inc., which has been a publicly traded company since 1900, just issued new common...

I need your help with this: Can you please quote from the attached chapters / resource if possible? Corporations often use different costs of capital for different operating divisions. Using an...

UNIT 5 QZ, Q-20 UNIT 5 / UNIT 8 QUESTIONS KEEP ANSWERS SEPARATE BY UNITS UNIT II STUDY GUIDE Consumer Mathematics Reading Assignment See information below. Key Terms 1. Add-on interest method 2....

Use the model in Miscellanea 11.5.3. (a) Show that the mean and variance of Yij are EYij = + i and Var Yij = 2B + 2. (b) If ai = 0, show that the unconditional variance of ai i. is Var (aii.) =...

The following table shows the demand for Good X, which is only produced by two firms. These two firms have just formed a cartel. Suppose that the two firms have a constant marginal cost and an...

Compare the yield to maturity and the current yield. How do you explain this relationship ? ( Select the best response . ) A . If a bond sells at a premium , the yield to maturity is greater than the...

Trent is a marketing manager for a large textbook publisher. What is his primary responsibility? Multiple Choice identifying and efficiently using sources of financing hiring employees and dealing...

3. What would you do now if you were Mel Fisher?

14.3 Explain WHMISlegislation.

14.1 Explain why employee wellness programs are becoming increasingly popular.