Sam had student loan of 25,000. He plans to pay off it in seven years with monthly

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

Question:

Sam had student loan of 25,000. He plans to pay off it in seven years with monthly payment. The annual interest rate is 6%.How much he should pay in each month?

Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

See More Books

Posted Date: May 11, 2024 01:26 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...
Your mother just received a $250,000 inheritance. If she invests her money in a diversified equity portfolio returning 8 percent per year, approximately how long will it take her to become a...
"A bank makes a 30 year Fully Amortizing FRM for $1,000,000 at an annual interest rate of 4.13% compounded monthly, with monthly payments. What is the market value of this loan after 7 years of...
A share of preferred stock pays a dividend of $5 per year. If the price of this preferred stock is currently $100, what is the cost of preferred stock? Fill in the blank
You are part of a student team that is hosting a number of inner city junior high and high school students from several nearby cities at your campus for a weekend. The primary purpose is to encourage...
A significant number of European banks held large amounts of assets as mortgage-backed securities derived from the U.S. housing market, which crashed after 2006. How does this demonstrate both a...
Cutting Tree Services Ltd, which began operations on 1 July 2009, had the following transactions: At 31 July, accrued interest on the loan amounted to 70, while accrued salaries totalled 350. Also,...
Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $10,000 will be accepted. Assume that the...
Data table Static budget variable overhead $ 7,800 Static budget fixed overhead $ 3,900 Static budget direct labor hours 1,300 hours Static budget number of units 5,200 units Jackson allocates...
Deposits in transit a) have been recorded by the bank but not yet by the company. b) have not been recorded by the bank or the company. c) have been recorded on the company's books but not yet by the...
Bacon Company makes four products in a single facility. These products have the following unit product costs: ProductsABCDDirect materials$14.30$10.20$11.00$10.60Direct...
Sunn Company manufactures a single product that sells for $180 per unit and whose variable costs are $135 per unit. The company's annual fixed costs are $562,500. Management targets an annual income...
Crazy Dog, Inc specializes in custom commercial building irrigation systems. Since the equipment is unique, Crazy Dogdesigns each system to customer specifications. The company uses a job-order...
Tasty Brands Company manufactures candy from a joint production process and has four main products: Choco Bar, Nougat Bar, Peanut Bar, and Coconut Bar. Joint costs for one batch are as follows:...
Care Products Company is considering a new product that will sell for P100 and havea variable cost of P60. Expected volume is 20,000 units. New equipment costing P1,500 and having a five-year useful...
homework help! Fly-By-Night Couriers is analyzing the possible acquisition of Flash-in-the-Pan Restaurants. Neither firm has debt. The forecasts of Fly-By-Night show that the purchase would increase...
Why is it important to understand the macro-environment when making decisions about an international retail venture?
Should the buyers costs be separated from the target companys costs in the cost savings that come out of a merger of two companies?
What is the cost of capital equal to?
Explain what impact an increase in debt will have on the of shares.

Sam had student loan of 25,000. He plans to pay off it in seven years with monthly

Question:

Expert Answer:

So Sam should pay approxi... View the full answer

Microeconomics An Intuitive Approach with Calculus

Students also viewed these finance questions