You have a 10-month loan of $2,000.00 at 15 percent with a balance of $227.90 after...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
You have a 10-month loan of $2,000.00 at 15 percent with a balance of $227.90 after payment 8. What is the final payment if you pay off the loan with payment 9? You have a 10-month loan of $2,000.00 at 15 percent with a balance of $227.90 after payment 8. What is the final payment if you pay off the loan with payment 9?
Expert Answer:
Answer rating: 100% (QA)
To calculate the final payment if you pay off the loan with payment 9 we need to determine the ... View the full answer
Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
Posted Date:
Students also viewed these finance questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
An airplane wing is subjected to a lift force (F) created by the airflow over its surface. This force is a function of the density (p) and viscosity of the air (u), the chord length (L) of the wing,...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
In Problems 65-72, summarize all pertinent information obtained by applying the graphing strategy, and sketch the graph of y=f(x). 66. 68. 70. 72. x2x6 f(x) 2x 1x +14 f(x)-_-x2-4 x3-5x2-6x 3x +2...
-
A 7.50-nF capacitor is charged op to 12.0 V, then disconnected from the power supply and connected in series through a coil. The period of oscillation of the circuit is then measured to be 8.60 X...
-
The Depreciation Company The directors of the Depreciation Company are deciding on their accounting policy on the depreciation of their non-current assets. They have just purchased some new assets...
-
Gear Heads, Inc., restores antique automobiles. The retained earnings balance of the corporation was \($32,000\) at December 31,2009. During 2010, the corporation paid \($40,000\) in dividends to its...
-
Consider a long bar of square cross section (0.8 m to the side) and of thermal conductivity 2 W/m K. Three of these sides are maintained at a uniform temperature of 300C. The fourth side is exposed...
-
To what extent should an owner of a bar, restaurant, or any other commercial establishment that dispenses alcoholic beverages be legally responsible for any injuries or other adverse consequences...
-
On December 31, the Income Summary account of Johnson Company has a Credit balance of $226,000 after revenue of $519,000 and expenses of $293,000 were closed to the account. Gloria Johnson, Drawing...
-
a. If Kirwan Company, with a break-even point at $547,200 of sales, has actual sales of $760,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of sales? b. If the...
-
You have a grocery delivery service ( similar to Blinkit or Instamart ) that ships pan India within 2 4 hours. Without searching online for specific details, just by using the power of logic based on...
-
A large crankshaft made of cast iron with fracture toughness (Kc = 50 MNm-3/2) undergoes cyclic tensile stress, 250 MPa, and compressive stress, 80 MPa. Before using the material, an inspection with...
-
Consider the following alternatives: Alternative 1 Alternative 3 Alternative 2 First cost ($) 170,000 120,000 100,000 Net cash flow per year ($/year) 34,500 24,000 15,000 Salvage value ($) 0 0 0...
-
Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These...
-
X.S. Giovanni Corp. (XSG) is expected to generate free cash flow from operations of $4 million in the coming year (year 1), and $4.4 million in the following year (year 2) and $4.84 million (year 3)....
-
Create two objects of type Car and call the setter methods to set the property of each object. Two objects should be filled with this given information. Car Name Price Quantity Car Category Brand...
-
The Adjusted Trial Balance columns of a 10-column work sheet for Webber Co. follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by...
-
The following beginning-of-month (BOM) and end of month (EOM) amounts are to be deposited in a savings account that pays interest at 9%, compounded . monthly: Today (BOM 1)...............$400...
-
Bill Jones's parents insisted that Bill buy himself a new sport shirt. Bill's father gave specific instructions, saying the shirt must be in "good taste, "that is, neither too wildly colored nor too...
-
Ima Lucky girl recently found out that her grandfather has passed away and left her his Rocky Mountain Gold savings account. The account was originally opened 50 years ago when Ima's grandfather...
-
For each of the following events concerning disclosure of events that took place after year end, discuss the manner in which it should be disclosed in the financial statements or the audit report....
-
Determining whether a subsequent event requires an adjustment to the financial statements is difficult in many circumstances. Discuss the primary difference between subsequent events that require...
-
Each of the following techniques for managing earnings was described in the chapter: - "Big Bath" charges - Write-off of acquired assets - "Cookie Jar" reserves - Abuse of materiality - Questionable...
Study smarter with the SolutionInn App