One of your friends takes a loan of $10,000 from a bank at 14 per cent interest

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

Question:

One of your friends takes a loan of $10,000 from a bank at 14 per cent interest rate. If your friend plans to repay $1,000 per quarter against this loan amount, in how many years she would be able to repay the loan (and accumulated interest) fully?

Related Book For answer-question

Global Marketing management

ISBN: 978-0470505748

5th edition

Authors: Masaaki Kotabe, Kristiaan Helsen

See More Books

Posted Date: Jan 07, 2024 01:04 AM

See More Questions

In the beginning of January 2009, Mr. L.C. Tandon, Director of Finance of Central Equipment Company (CEC) was evaluating the pros and cons of debt and equity financing for the purpose of expansion of...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
M DO NOT TURN THIS PAGE UNTIL YOU ARE TOLD TO DO SO SECTION B. ANSWER ANY THREE (3) QUESTIONS Question 1 (25 marks) You have analyzed Solar Power Ltd. and have reported the results of your analysis...
How would you distinguish between corporate governance and IT governance in terms of the goals and issues that each addresses?
(a) The table shows the number of days on the market for the 36 recent home sales in the city of Sonando Hills. Construct a frequency distribution and histogram, using nice (round) bin limits. (b)...
Intuition in decision-making can expedite decision-making (versus cognitive domains that are slow and deliberate), but it can fail or mislead us, too. How can that be?
Avery, Inc., is a wholesale distributor supplying a wide range of moderately priced sporting equipment to large chain stores. About 60 percent of Averys products are purchased from other companies,...
If I assume the WACC= 9% and a growth rate of 5% after year 1. What would the FCF for Year 1 be? What would the market value of the common stock be? 3. ($ millions) Sales Actual Forecast X 0 Xr1 $...
On July 31, 2019, Ping Company purchased 90% of Santos Company?s common stock for $2,010,000 cash. Immediately after the acquisition, the two companies? balance sheets were as follows: Santos Company...
Palmer Corporation, operating as a US. corporation, expects to order goods from a foreign supplier at a price of 200,000 pounds, with delivery and payment to be made on April 15. On January 15,...
d2x K dt m - 1 (d+ x) - 1 (d- x) (a) Classify this ODE and explain why there is little hope of solving it as is. (b) In order to solve, let's assume x < d and then replace the right-hand side...
The graph of y = f(x) is given below: B( A(-1,0) C( B(2,1) On a piece of paper sketch the graph of y = f(4x) and determine the new coordinates of points A, B and C. A( B ) C(5,0)
3. Fill in the following table so that u is a function of u AND v is also a function of u. -8 0 9 11 V 0 12
Ticker IBS is traded on the Pacific, Gulf and Atlantic stock Exchanges. The sequence of bids in the consolidated record is: Time 10:00:01 10:00:02 10:00:03 10:00:04 10:00:05 10:00:06 10:00:07...
Make notes and and proceed with calculations in Exel (calculate missed numbers, highlighted in yellow) then construct NPV profiles for projects. x fx =A28+43% 1 2 5 Discount Rate 7 8 Upgrade 9 Cash...
The following information was obtained from Durand, Inc.: Advertising Costs $10,400 Indirect Labor 9,000 CEO's Salary 460,000 Direct Labor 51,000 Indirect Materials Used 6,000 510,000 Direct...
Provide examples of a situations in which environmental disruptions affected consumer attitudes and buying behaviors.
In Russia, Procter & Gamble markets Tide, its U.S. premium laundry detergent brand, as an economy brand with the slogan ''Tide is a guarantee of clean clothes.'' Except for the brand name and the...
How is the WTO different from GATT? What functions is the WTO expected to perform?
In September 1999, Unilever announced that it would trim over one thousand brands. The company wants to focus on 400 of its current 1,600 brands, with a core group of so-called power brands that are...
An atom loses an electron to another atom. Is this an example of a physical or chemical change? (a) chemical change involving the formation of ions (b) physical change involving the formation of ions...
Why are ores so valuable? (a) They are sources of naturally occurring gold. (b) Metals can be efficiently extracted from them. (c) They tend to occur in scenic mountainous regions. (d) They hold many...
Aluminum ions carry a 3+ charge, and chloride ions carry a 1- charge. What is the chemical formula for the ionic compound aluminum chloride? (a) Al 3 Cl (b) AlCl 3 (c) Al 3 Cl 3 (d) AlCl

One of your friends takes a loan of $10,000 from a bank at 14 per cent interest

Question:

Expert Answer:

To calculate how many years it takes to repay the loanwe need to consider both the principal amount ... View the full answer

Global Marketing management

Students also viewed these finance questions