Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 259,873.20 2 1,167.34 539.24 628.10 259,245.10 3 1,167.34 x y z With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan. Give your answer to the nearest hundredth percent. Do not include the % sign in your response.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 259,873.20 2 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
EcoSkate makes skateboards from recycled plastic. For a recent job lot of 125 skateboards, the company incurred direct materials costs of $1,500 and direct labor costs of $250. Overhead is applied using a rate of 150% of direct materials costs.
Answers (1)
Strong corporations were prevented in the early 1900s from becoming monopolies. a. True b. False
Answers (1)
Peters Manufacturing Company has the following data at June 30, 2019: Raw materials inventory, June 1 $13,800 Work in process inventory, June 1 18,100 Finished goods inventory, June 1 43,500 Total manufacturing costs 430,000 Sales 580,000 Work in
Answers (1)
Career Situation: What Would You Do? For some years now, you've owned a small specialty bookshop in a college town. You sell some textbooks but mainly cater to a broader customer base.
Answers (1)
Ethics refers to fundamental principles of right and wrong. Ethical behavior is behavior that is consistent with those principles. In the context of ethical human resource management, HR managers must view employees as having basic rights.
Answers (2)
New Questions in Business
Question 2 1 pts How much is the fine for your thost offense for failure to keep insurance? $1000 $400 $200 $20
Answers (2)
A movie company makes 500,000 DVDs of one of its latest releases. It sells 300,000 of them before the end of the second quarter, and holds the others in its warehouse. How will the 200,000 unsold DVDs be treated in the GDP statistics?
Answers (1)
Which is a primary activity in Porter's value chain model? A. finance B. procurement C. human resources D. outbound logistics
Answers (1)
During the past six months, 73.2% of US households purchased sugar. Assume that these expenditures are approximately normally distributed with a mean of $8.22 and a standard deviation of $1.10. 99% of the households spent less than what amount?
Answers (1)
You just inherited?$12 comma 00012,000. while you plan to squander some of it? away, how much should you deposit in an account earning 44?% interest per year if? you'd like to have?$12 comma 00012,000 in the account in 88? years?
Answers (1)