Determinig annual installments
Not what you're looking for?
Problems:
a. If you borrow $1,000 and agree to repay the loan in five equal annual payments at an interest rate of 12 percent, what will your payment be?
b. What if you make the first payment on the loan immediately instead of at the end of the first year?
Purchase this Solution
Solution Summary
The solution describes the steps for determining annual installments for a loan.
Solution Preview
a. If you borrow $1,000 and agree to repay the loan in five equal annual payments at an interest rate of 12 percent, what will your payment be?
Present Value of loan = $1000
Rate of interest per period= 12%
n= number of ...
Education
- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
Recent Feedback
- "Thank you"
- "Really great step by step solution"
- "I had tried another service before Brain Mass and they pale in comparison. This was perfect."
- "Thanks Again! This is totally a great service!"
- "Thank you so much for your help!"
Purchase this Solution
Free BrainMass Quizzes
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.